B2Bs Evolution May Displace Internet Leaders from Current Positions

According to Superbrands, an organization which evaluates brand equity, in a survey compiled by a council of senior business leaders and 1,500 independent professionals; search engine Google is the brand which has made the most impact on the UK business sector. Google topped the poll of 500 brands by scoring highly in terms of quality, reliability and distinction. Interestingly, Microsoft was next in rank in the list, again another IT firm.  These two IT companies leave a footprint among the top brands with few years of their existence, as most of the 500 companies in the survey are older than 50 years. This validates that internet has become indispensable tool in day to day business of consumers.

 

Popularity and user-friendliness of the internet has encouraged businesses to utilize these services to the utmost level. As businesses began to use the internet, there arose a need to do business by just sitting in one's office. Traders initially communicated with their own existing networks to do business, but while the self network directory exhausted; they have had to search for new related traders for expanding, diversifying or for even sustenance. The transformation of ordinary international export-import directories into Business to Business (B2B) portals provided interactive business opportunities to traders around the globe cost effectively. The arrival of B2Bs scripted the beginning of a new era in the world of business in no time.

 

At a glance, any market is largely run on business to end-user terms, but surprisingly in the whole circle of business, one can see many points of contact. These contacts make great opportunities for business to business maneuverability. And that is the very reason why B2Bs have become instant successes.  For example if one looks at the chain of actions in business, assumed to begin from a sourcing unit, then to manufacturing to go-betweens to end-user to reclaiming to recycling and it goes on until it reaches the assumed stage. Among these stages business to consumer is just one of the stages whereas all other phases are business to business. Therefore, by interpreting the given example one can see business to business has more potential than business to end-user. On that premise, B2B portals have tremendous potential to become an international trading tool to traders from any where in the world.

 

The performance of Google as well as Microsoft is a clear indication that world of business is tilting towards internet related businesses. It goes without saying that businesses cannot survive without internet services and the concept of B2Bs will drive next level of growth in the world of business by providing equal business opportunities to traders regardless of their size or region. Recent developments in B2Bs by rendering services that of business to consumer gives an impression that they will further evolve as portals of comprehensive business solution to one and all irrespective of being a trader or not. Hence, to displace Google and Microsoft from their current positions in Superbrands and other brand equity evaluators by leading B2B portals in near future is not a far cry from reality.