B2B Effective Both For Marketing and Sourcing: Bikky Khosla, Business to Business Marketplace Effective For Marketing, Business to Business Marketplace Effective For Products Sourcing

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Namrata Kath Hazarika | 07 Jul, 2010
Business-to-Business (B2B) marketplaces provide business houses with a unique platform for cost-effective marketing and sourcing solutions, both of which are crucial factors for success, said Bikky Khosla, Chief Executive Officer, Tradeindia.com on Tuesday.

"Today B2B marketplaces are offering customers both marketing solutions and sourcing solutions. In fact, marketing is important and equally important is sourcing. SMEs are not only selling products but also sourcing products," said Khosla while addressing a conference, 'Free for SMEs', at the 'Session 2 on B2B Market Places: Catalysts for SMEs Growth' in New Delhi.

"All my experience all through these years says that if you do not keep an eye on your vendors and do not keep a check on the prices then you will very soon become out-sized. And in this corporate world it is very important that sourcing is also done properly. So, B2B also offers a sourcing solution which is equally vital as compared to marketing," he added.

Khosla viewed that B2B portals, as they are Internet-based, are probably the most cost-effective platforms for marketing and sourcing products.

"When it comes to marketing, I think the B2B portals are the most costs-effective way of marketing," he said, adding'," Suppose you are producing the best products in the world but if people cannot see them (products) and are not able to buy them then it becomes of no use. In that case, Internet gives you the visibility of 365 days all over the world."

He added that the traditional ways do not provide the services the Internet facilitates. Trade fairs, for example, have certain time period, he pointed out.

Emphasising on regional trade, Khosla said, "We know that the traditional markets are growing neither in the US nor in Europe. I have a strong belief of regional trade. Regional trade can grow and can be more advantageous as well."

And, B2B marketplaces provide the services and opportunities for regional trade. SMEs also need to make themselves accessible otherwise they will never be able to gain anything, he said.