Final answer:
A B2B reverse auction is intended to reduce the price by increasing competition from suppliers, and it can be conducted through a B2B marketplace or other avenues.
Step-by-step explanation:
A B2B reverse auction is an auction where the roles of buyers and sellers are reversed compared to traditional auctions. In this scenario, a buyer seeks to procure goods or services and invites suppliers to bid for the contract. The essence of a reverse auction is that it is intended to reduce the price by increasing competition from suppliers, who compete against each other to offer the lowest price to win the business.
While a reverse auction can be run through a B2B marketplace, it is not exclusively confined to such platforms; they can also be conducted privately or via other types of auction services. Thereby, the correct answer is that a B2B reverse auction is indeed intended to reduce the price by increasing competition from suppliers.