It is easier to find marketplaces for consumer goods because, ultimately, goods and services are created for the user's consumption. However, finding a platform for businesses for secondary purposes is difficult! The contacts and network are limited to our acquaintances. So how to increase the scope of opportunities to get new customers in business markets?

Before we continue with the "how", let's talk about the "what" of business markets. What exactly is a business market? It's a market where businesses buy and sell businesses. I may have made it sound very simple, but it's not that easy. Business markets are an environment where transactions take place between two business parties. Businesses buy goods and services from secondary businesses to create a final product that a consumer uses.

This is also known as the business-to-business market. While the creation of goods for a consumer is called the B2C market. Many people find it more profitable to invest in B2B than in B2C. The best example for understanding B2B markets is the iPhone!

Anyone who has seen the packaging of an Apple product must have noticed that its products are designed in California and manufactured in different parts of the world!

Companies in the US, UK, Switzerland, Poland, Germany, India, China, Japan, South Korea, etc., are actively involved in making the iPhone parts and then the warehouse in California assembles them. The iPhone is a classic example of commercial markets. As mentioned above, the scenarios are totally different from those of consumer markets. Its facets differ as follows,

  • Companies spend more time creating the product than marketing and other aspects of advertising. In turn, this is profitable for the companies.
  • The proportion of buyers is less. However, volume and demand are still high.
  • Secondary businesses suffer minor losses compared to B2C, as market fluctuations rarely affect them.
  • Customer concentration is limited. Thus, it is easier for the seller to move the goods quite efficiently.
  • The corporate market is professionally equipped because it is composed of professionals only.
  • A long-term relationship exists between buyers and sellers because the market is relatively lean.

There are different types of business markets. They are as follows,

Business-to-Business Market

As explained above, you sell your products and services to help other businesses finish the product for the end customer's use. This type of marketing involves a lot of communication with the buyer, as the buyer wants to ensure that they are receiving a quality product. The emphasis here is on building relationships between the buyer and seller rather than advertising or public relations.

Service market

A service market is when the buyer obtains services from the seller for basic operations. The service provider does not need to hire professionals, but amateurs can work for a pittance. The best example is the services provided by a security company to various offices in the city. The security company provides its employees to the companies to maintain security and monitor potential threats.

The industrial market

This market mainly focuses on providing raw materials to other companies that create finished products. Companies in this market are called suppliers and provide semi-finished materials to manufacturers.

Materials such as irons, wood, sand, etc., are semi-finished from their raw state and supplied to other manufacturers. This helps the companies to create the goods as they want.

Professional Services Market

Companies in this sector provide professional solutions to businesses across the globe. They are experts in their field and provide services as well as solutions to the problems that a business faces on a daily basis. Most of them are software solutions. They are known as email search tools. The strongest example is the GetEmail.io website. It is a website that provides email addresses of professionals from around the world. Powered by AI, GetEmail.io helps an individual to find the official email address of professionals.