Certified Supply Chain Professional (CSCP) Practice Exam

What is another term for a B2B marketplace?

1. Consumer marketplace

2. Trading exchange

3. Retail marketplace

4. Physical marketplace

The correct answer is: Trading exchange

A B2B (Business-to-Business) marketplace is primarily a platform where businesses can buy and sell products or services to one another. The term "trading exchange" accurately describes this type of marketplace, as it signifies an environment where multiple businesses interact and conduct transactions, often involving bulk purchases or services that are not typically sold to the end consumer. Trading exchanges facilitate the exchanges of goods, services, and sometimes raw materials between businesses, providing a streamlined platform for pricing, negotiation, and fulfillment processes. This interaction is essential in a B2B context, where the buying process often includes multiple stakeholders and considerable negotiation. In contrast, the other options refer to different market structures or types. A consumer marketplace focuses on transactions between businesses and individual consumers, often emphasizing retail sales. A retail marketplace also involves consumer sales but is more specific to final goods sold to end-users. A physical marketplace suggests a traditional, brick-and-mortar setting, which does not accurately capture the online or digital nature of many B2B transactions. Therefore, "trading exchange" explicitly conveys the essence of a B2B marketplace, making it the most suitable term.