Characteristics of B2B Relationships - Explained
What are the Characteristics of a Business Relationship?
Written by Jason Gordon
Updated at September 28th, 2021
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
What are the Characteristics of a Business Relationship?
Business to Business (B2B) relationships often entail the following characteristics:
- Cooperative Problem Solving - A customer may seek assistance in finding a solution to this problem or to seek knowledge, experience, or guidance in a situation.
- Exchange of Information - Partners in a B2B relationship often exchange information between them.
- Operational Ties - For example, one company may invest in locating ourselves closer to the business relationship partner or collaborate in our technology systems. .
- Legal Ties - There are generally numerous legal relationships between the parties. For example, we may enter into contracts or pursue joint ventures.
- Partner Adaptations - This is kind of like operational ties, except that it entails minor changes or alterations to a product or process in order to facilitate the partner. An example might include changing a shipping procedure to accommodate the business partner's receiving schedule.
- Power - Power can cause problems if it's not managed or acknowledged appropriately. Basically, either the buyer or the seller is going to be in a better position to dictate how the relationship works.
Related Topics
- Business to Business (B2B) Definition
- Business to Consumer (B2C) Definition
- Business to Government (B2G) Definition
- Business Customers are Different from Consumers
- What Drives Purchase Decisions?
- Types of Purchase Decisions
- Who Makes Purchase Decisions?
- Role of the Business Buying Center
- Identifying Options for Purchase
- Benefits/Detriments of B2B Relationships
- What is Included in a Business Relationship?
- What are Kickbacks a Bad Thing?
