What is B2C
Business is a firm or an organisation which is involved in various kinds of transactions with parties termed as consumers and is involved in business of goods or services or both with the customer. Generally, we call consumers as the end users of the chain of procurement which conducting business. B2C is an abbreviation for Business to Consumer or the end user customers. This sort of business is prevalent everywhere in the daily world, from the hot dog kiosk near the pavement, to the Tata groups, everywhere people are selling goods or services to please the market, make money and serve the customer and this is what is termed as Business to Consumer, or B2C. Since 1990s, or rather since the development of the network of networks, i.e. the Internet, people have found ways to conduct online as well. Now-a days, B2C is primarily been used to describe the online variety. Conversely, B2B is an abbreviation of Business to business which is a slightly different concept that B2C. In this case business is given to a second business firm or entity rather than involving consumer-business relationship. The consumer of this type of business is the second business party involving itself in the market business. In general we can say B2C is Business to Client.
A B2C is way up ahead in the online retailing field. As a matter of fact, B2C is generally referred to the e-commerce held online. The main challenge in this regard is for websites to handle online customers with total confidentiality and trust. Search engine marketing or SEM is the marketing scheme used in this type of business procedures as it is very general for consumers to click on links coming on the first few pages of the search engine depending upon their query and need for aspecified product. Transaction security and confidentiality of data pertaining to credit card number or internet banking password is a must for B2C. In order to please the consumer the online retailers provide free shipping of the product or the good ordered. This healthy relationship between the customer and the retailer is beneficial to both; moreover goods are sometimes available at heavy discount rates online! These days B2C is more affordable a business to setup rather than a brick and mortar setup which takes a lot of financial expense and difficult handling and maintenance.
With the fall of the capital market during the recession the b2C business was the first to observe a step downfall but with time it is yet emerging to be a lucrative market.