Business-to-business ( B2B or, in some countries, BtoB ) is a situation where one business makes a commercial transaction with another. This typically occurs when:
35-450: UBM plc was a British business-to-business (B2B) events organiser headquartered in London , England, before its acquisition by Informa in 2018. It had a long history as a multinational media company. Its main focus was on B2B events, but its principal operations included live media and business-to-business communications, marketing services and data provision, and it principally served
70-430: A fee of $ 972 million. In November 2014 UBM plc CEO, Tim Cobbold, announced a new Events First strategy By 2015, UBM had rebranded itself as primarily focused on B2B events. Reflecting this, 82 percent of its business in 2016 derived from events and only 18 percent from other marketing services. In December 2015, UBM announced the sale of PR Newswire to Cision for $ 841 million, subject to regulatory approval. UBM had owned
105-404: A holding company of KKR. In the autumn of 2018, GfK’s French competitor Ipsos acquired a division of GfK with 1,000 staff dealing with client-specific projects for 105 million euros. In 2020, GfK launched gfknewron, a new AI-powered platform. Therefore, customers can access relevant data in real time and receive recommendations for action based on predictions. In July 2023, NIQ (formerly
140-705: A part of Nielsen Holdings ), a U.S. market research and consumer intelligence company owned by Advent International , gained approval from the European Union to acquire GfK after an antitrust investigation that began in June 2023. This approval was given under the condition of selling its consumer panel business, which went to the British market research company YouGov in July 2023. In April 2005, it acquired NOP World (originally National Opinion Polls), based mostly in
175-640: A reorganisation of the corporate structure of the Group, United Business Media Limited (UBML) was created as a new holding company and parent company of the Group. UBML is UK-listed and incorporated in Jersey. In 2010 the principal holding company of the United Business Media group (the "Group") was organised into five operating segments: Events, TD & M, Data Services, Online and Print. In 2008, UBM moved its tax headquarters to Ireland, but in 2012,
210-479: A result, smaller businesses with less capital often struggle to stay afloat. In B2B, brand reputations greatly depend on the personal relationship between businesses. On the other hand, in B2C, the business's reputation is often fueled by publicity through the media. In many cases, the overall volume of B2B (business-to-business) transactions is much higher than the volume of B2C transactions. The primary reason for this
245-574: A year later, in April 2002. United News and Media later agreed to buy Scottish Television 's 20% stake in HTV and on 28 June 1997, HTV was taken over fully by UNM for £370 million. In 1999, plans emerged of a merger between UNM and rival Carlton , however these talks failed when it appeared that Meridian would have to be sold off as a condition of the deal. As a result, the television assets of UNM were sold to Granada , however due to regulations stating that
280-421: Is clearer, it has spot sourcing contract management that offers a flat retail rate for each item sold. Time is also different as B2B has a slower process than B2C which is concluded in shorter periods (that could be minutes or days). Business-to-business generally requires an upfront investment whereas business-to-consumers do not need a business to spend money on infrastructure. The last difference mentioned here
315-797: Is that in B2B, lagging in the digital transformation, has to deal with back-office connectivity and invoicing a number of different partners and suppliers, while B2C results in more seamless transactions as options, such as cyber-cash, allows the business to accept a wider variety of payment options. B2B typically only allows payment via credit card or invoice, making the purchasing process longer and more expensive than with B2C. B2B, as there are normally bigger amounts involved over longer periods of time, usually have higher costs than B2C, which consists of quick, daily transactions. Businesses typically want to buy on net terms, meaning that B2B merchants have to wait weeks, if not months to get paid for their goods or services. As
350-409: Is that in a typical supply chain there will be many B2B transactions involving subcomponents or raw materials , and only one B2C transaction, specifically the sale of the finished product to the end customer. For example, an automobile manufacturer makes several B2B transactions such as buying tires, glass for windows, and rubber hoses for its vehicles. The final transaction, a finished vehicle sold to
385-491: Is the largest German market research company. It provides data and intelligence to the consumer goods industry and is headquartered in Nuremberg, Germany . The company is a subsidiary of NIQ . GfK was founded as GfK-Nürnberg Gesellschaft für Konsumforschung e. V. in 1934 by university lecturers from Nuremberg, among them the future German Minister of Economic Affairs and Federal Chancellor Ludwig Erhard . The concept
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#1732793257479420-744: Is the retailer supplying goods to the consumer. In B2B there are business people on both sides, whereas in B2C there is normally one business person and one consumer. In the first case, the decision is pursued by need (because the other business needs it), and in the second case, they are expectations rather than needs. B2B has many sellers and different stores, whereas B2C, is usually just one supplier. B2B concentrates on raw data for another company, but B2C focuses on producing something for consumers. A B2B transaction entails direct-sourcing contract management, which involves negotiating terms that establish prices and various other factors such as volume-based pricing, carrier and logistics preferences, etc. B2C transaction
455-433: Is the transaction pattern for the intermediate trading market. It concentrates similar transactions of various industries into one place, as it provides a trading opportunity for the purchaser and supplier, typically involving companies that do not own the products and do not sell the products. It is merely a platform to bring sellers and purchasers together online. The better platforms help buyers easily find information about
490-554: The Daily Express for some 15 years. Also in 1985, it bought US trade magazine and book publisher Miller Freeman . It changed its name to United News & Media in 1995, sold its regional papers in 1998, and bought CMP Media , a technology-focused trade media company, in 1999 for $ 920 million. In 2000, it sold the Daily Express to Richard Desmond , sold most of Miller Freeman to VNU and Reed Elsevier and adopted
525-1019: The United Kingdom , the United States and Italy , which was rated the world's ninth largest market research business. In May 2008, it acquired an equity stake in Deep-Packet Inspection company Qosmos in order to track and monitor Internet usage for marketing research. The management team consists of nine individuals (as of 22 February 2024): GfK's core business is collecting and processing data on consumer behavior. It includes advising companies using technology-based applications. GfK industry area include technology and consumer durables, retail, consumer goods, automotive, financial services, media and entertainment. It collects data on over 180 million SKUs and surveys over two million people in 15 countries, working in compliance with market and social research associations (such as
560-640: The ITV franchise for the east of England, and the following year became a major shareholder in the consortium that won the franchise for Channel 5 . In 1996, MAI merged with United Newspapers (via an agreed takeover by United) to form United News & Media (UNM) . The resulting company owned the Daily Express newspaper, Meridian, Anglia, and a large shareholding (through the Yorkshire Post ) in Yorkshire Tyne Tees Television ,
595-602: The US and Asian versions of EE Times, EDN, ESM, Embedded, EBN, TechOnline and Datasheets.com . In January 2018 Informa announced the acquisition of the company for £4 billion. The transaction was completed in June 2018. In January 2019, Informa sold several of the UBM Life Sciences publications (including Spectroscopy and Psychiatric Times ) to MJH Associates. UBM was a global B2B events organizer. Its businesses included UBM Asia , UBM EMEA and UBM Americas . It
630-667: The acquisition of four trade shows in Asia for 19.4 million in the same month, marking UBM plc's continuing transformation into an events and B2B marketing services company. In 2012, PA Group, the parent company of the Press Association , sold its 50% stake in Canada Newswire to joint venture partner UBM for £30.1 million. In April 2013, UBM's data services businesses were sold to Electra Partners . In October 2014, UBM announced it would acquire Advanstar Communications for
665-679: The company announced its intent to move its tax base back to the United Kingdom. In September 2010, Canon Communications announced that it had agreed to be acquired by UBM. In May 2011, United Business Media officially changed its name to UBM plc. In February 2012 Yankee Group sold its annual 4G World telecoms and wireless trade show to UBM plc where it was incorporated into its UBM Tech division. Briefing Media acquired UBM plc's UK agriculture and medical general practitioner portfolios for £10 million in February 2012 while UBM plc announced
700-736: The company could not control that large an audience share, the broadcasting arm of HTV was sold to Carlton in exchange for Central's 20% stake in Meridian. In 2005 UBM re-focused on two principal businesses: PR Newswire, a global news distribution business; and CMP, an international events, print and online publishing business. It disposed of NOP which was acquired by GfK for £383 million in 2005. In September 2006, NewBay Media acquired CMP Entertainment Media from United Business Media. The trade book operations of CMP were sold to Elsevier and Hal Leonard . It went on to acquire Commonwealth Business Media for $ 152 million in 2006. On 1 July 2008, as part of
735-419: The company since 1982. Some analysts interpreted this as a further step in the transition from a diverse media company to a B2B events company. In June 2016 UBM plc announced the completion of the sale of PR Newswire to Cision . In the same month UBM reached agreement to divest its electronics media portfolio to an affiliate of Arrow Electronics Inc. for a cash consideration of $ 23.5m. The portfolio comprised
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#1732793257479770-960: The consumer, is a single ( B2C ) transaction. B2B2C means "business-to-business-to-consumer". According to the TechTarget website, the purpose of the terminology is to "extend the business-to-business model to include e-commerce for consumers". B2B2C aims to "create a mutually beneficial relationship between suppliers of goods and services and online retailers". According to Lomate and Ramachandran, it enables manufacturers (the first "B" in B2B2C) to connect with, understand and serve their end customers ("C") without undermining their sales and distribution networks, including online sellers (the second "B") or excluding them from continuing customer engagement . GfK Lars Nordmark (CFO) GfK (originally GfK-Nürnberg Gesellschaft für Konsumforschung e.V. , 'Nuremberg Society for Consumer Research')
805-447: The enterprise's online store. Through the website, the company can promote its products vigorously, more efficiently and more comprehensively which enriches transactions as it helps their customers understand their products well. Or, the website can be created for business, where the seller advertises their products to promote and expand transactions. A good example of a vertical B2B model is manufacturers vs wholesalers. Horizontal B2B
840-415: The levels of Business-to-Business activity is that it allows for business segmentation. B2B is often contrasted with business-to-consumer (B2C) trade. B2B involves specific challenges at different stages. At their formation, organizations should be careful to rely on an appropriate combination of contractual and relational mechanisms. Specific combinations of contracts and relational norms may influence
875-426: The name of United Business Media . United Business Media acquired the trade publisher Aprovia UK (owner of The Builder ) in 2003 and the medical publishing company MediMedia in 2004. MAI was part of a consortium that bid for the ITV south and south east area, which formed Meridian Broadcasting in 1991. MAI began to expand following the successful launch of Meridian: in 1994 the company bought Anglia Television ,
910-514: The nature and dynamics of the negotiations between firms. Vertical B2B is generally oriented to manufacturing or business. It can be divided into two directions: upstream and downstream. Producers or commercial retailers can have a supply relationship with upstream suppliers, including manufacturers, and form a sales relationship. As an example, Dell works with upstream suppliers of integrated circuit microchips and computer printed circuit boards (PCBs) . A vertical B2B website can be similar to
945-516: The owners of Yorkshire Television and Tyne Tees Television . The stake in Yorkshire Tyne Tees Television was sold to Granada , allowing them to take control of the two franchises in 1997. In November 1997 UBM also launched the now defunct satellite TV Channel Rapture TV which focussed on dance music and extreme sports. The channel was put up for sale in 2001, and was eventually brought by Edinburgh-based company Power TV
980-462: The post of Small Business Commissioner under the Enterprise Act 2016 to "enable small businesses to resolve disputes" and "consider complaints by small business suppliers about payment issues with larger businesses that they supply." The principal difference between B2B and B2C is that the first one refers to commerce transactions between manufacturer and retailer, and the second one it
1015-463: The relationship have comparable negotiating power, and even when they do not, each party typically involves professional staff and legal counsel in the negotiation of terms, whereas B2C is shaped to a far greater degree by economic implications of information asymmetry . However, within a B2B context, large companies may have many commercial, resource and information advantages over smaller businesses. The United Kingdom government, for example, created
1050-411: The sellers and the relevant information about the products via the website. A good example of a horizontal B2B model is bankers vs corporate lawyers. A 2022 Amazon report highlighted a "rapid transformation of B2B e-procurement in recent years", with 91% of the B2B buyers surveyed in their study stating that they preferred online purchasing. In B2B commerce, it is often the case that the parties to
1085-609: The technology, healthcare, trade and transport, ingredients and fashion industries. UBM was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index . The history of the companies that made up UBM stretches back almost two hundred years. Up until its acquisition UBM businesses published many titles that were launched in the 19th century, including Building magazine, launched in 1843 by Joseph Hansom, as well as Chemist & Druggist . The company
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1120-431: The “GfK Association” was limited to promoting market and sales research. In 2010, the company was the world's fourth-largest market research company by revenue. In December 2016, investment company American private equity group Kohlberg Kravis Roberts made a takeover bid for 18.54 percent of the company's shares. Since March 2017, GfK SE has been majority-owned (96.7%) by the investment fund Acceleratio Capital N.V.,
1155-520: Was also a shareholder of ITN and Press Association . UBM's brands included: Conferences Journals (published by Technology Group ) Other Business-to-business Business-to-Business companies represent a significant part of the United States economy . This is especially true in firms with 500 employees and above, of which there were 19,464 in 2015, where it is estimated that as many as 72% are businesses that primarily serve other businesses. One possible argument of economics to explain
1190-491: Was developed by co-founder Wilhelm Vershofen. Initially, the association conducted 71 different studies, including: After the war, GfK’s activities from 1934 to 1945 were investigated by the American occupying powers. Following this investigation, GfK received a license to continue its activities in 1947. In 1984, commercial activities were spun off into GfK GmbH, which was renamed GfK AG on January 23, 1990. At that time,
1225-576: Was founded in 1918 as United Newspapers by David Lloyd George to acquire the Daily Chronicle and Lloyd's Weekly Newspaper . In 1929, the company merged with Provincial Newspapers, an owner of regional papers in the north; the next year, it sold its national papers. The company continued for decades as a regional newspaper publisher, making acquisitions such as Yorkshire Post Newspapers in 1969. It acquired PR Newswire in 1982. In 1985, it bought Express Newspapers and continued to publish
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