Bangalore: The B2B sector in India has been booming over the recent years. A recent market research showed that the sector has been under steady growth, providing a platform for more business transactions, a lucrative area for startups.

Providing more insights into this, Vivek Subramanyam, CEO, iCreate Software and Kishore Mandyam, CEO, PK4 Software Technologies spoke at the recently held Startup City 2013, focusing on aspects of business portals, market segmentation and revenues that any entrepreneur should consider in the B2B space.

According to Vivek, it is important for any entrepreneur to understand their product first before taking it to the market. After one is clear about their business portals, the next thing to focus is on the market segmentation. The market segmentation depends on the factors like ‘rational’ buyers or more often complex products. Other factors that contribute are the target audience and if the buyers are long term buyers.

Discussing the difference and challenges between B2B and B2C space, the panelists said that both the sectors have their own specifications. Generally the volume of B2B transactions is bigger than the volume of B2C transactions. Therefore the marketing strategies used in both sectors depend on the type of customers the businesses are handling. In B2B, the marketing message mainly focuses on the value, service and trust, while in B2C, the marketing message chiefly focuses on the needs and satisfaction of the consumers.

However, B2B scenario in India has been showing good prospects and it is expected that more entrepreneurs will join the league.

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