Markets are one of the essential parts of human society. There are a lot of markets in this world and one of the most modern types of markets is the online marketplace. The most distinct feature of an online marketplace is that, there is no specific place for these marketplaces. These kinds of markets work within the grids of the internet and are not limited to a specific location but span to every part of the world. similar to traditional markets, there are several different categories within an online marketplace and some of them are as follows.
Business to Business
this is a type of online marketplace where one business or the producer sells their goods or services to another business such as wholesalers or retailers for further business. This type of marketplaces is not only utilized by big manufacturing companies but also by the digital marketing company, to find their potential business opportunities. This type of market enables the business to reduce the effort in finding their potential clients and also to improve the number of sales channels. This will also enhance the transparency of such business proposals.
Business to Customer
This category of e-commerce is also known as the online retail marketplace, since these type of web portals allow the producers or the vendors to do direct business with the ultimate consumer. This type of marketplaces is one of the most popular e-commerce websites in the society. More than half of the individual population are presently using these websites for their shopping, since there is a wide range of products available in these shopping sites.
Person to Person
These model of marketplaces provides an individual person with an online marketplace to sell, or to buy products to, or from another individual person. This model of business is also known as the customer to customer business. The highlight of this model of business is that it acts as a platform for small vendors or individuals who wish to sell any used goods to find a potential buyer. There are many online marketplaces that promote individual trade of both goods and also services.
Similar to traditional trade, there are many other models associated with an online marketplace besides business to business, business to customer and customer to customer. Even though there is no physical presence during the trade, the online trades are more efficient and effective than normal trade. One of the most attractive and distinct features of the online marketplaces is that they provide a huge customer base than any other type of business.