Last Revised: 14 Feb 2020 Written by Veloxity CRM Time Estimate: About 2 minutes to read.
Business Transaction Type defines whether your sales take place with other businesses or directly with consumers.
Sales that take place with other Businesses are referred to as Business-to-Business Transactions or B2B.
A B2B Business Transaction Type represents a business whose customers are other businesses.
- Businesses who provide payroll services, companies who sell parts to automobile manufacturing companies, and web development companies are examples of B2B.
- B2B includes products and services sold to other businesses for business use: web development, supply and procurement exchanges, intermediaries.
Sales that take place with Consumers are referred to as Business-to-Consumer Transactions or B2C.
A B2C Business Transaction Type represents a business whose customers are individual consumers.
- A restaurant, a retail store, and an e-commerce website selling products directly to individual consumers are examples of B2C.
- B2C includes products and services sold to consumers for personal use: landscaping, a cruise, a pair of shoes, a romantic dinner.
A company can be both B2B and B2C.
- An event management business may sell wedding services directly to an individual consumer (B2C) as well as provide conference management services to another business (B2B).
- Automobile manufacturing companies may sell vehicles to consumers (B2C) as well as sell vehicles to businesses (B2B).
- Software companies sell services to both individuals (B2C) and businesses (B2B).