Vertical and horizontal market
A vertical market is a market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. A horizontal market is a market in which a product or service meets a need of a wide range of buyers across different sectors of an economy.[1][2]
Vertical market[edit]
There are three types of vertical market which encompass successive market stages of production and distribution: corporate, administered and contractual.
- Corporate vertical markets combine market stages under single ownership.
- Administered vertical markets are coordinated by one company due its size and power.
- Contractual vertical markets are created by independent companies that combine market stages through legal agreements.[3]
See also[edit]
- Vertical integration
- Vertical market software
- Vertical monopoly
- Supply and demand
- Product-market fit
References[edit]
- ↑ Jakki J. Mohr; Sanjit Sengupta; Stanley F. Slater (2010). Marketing of High-technology Products and Innovations. Prentice Hall. p. 251. ISBN 9780136049968. Search this book on
- ↑ Robert W. Haas (1992). Business Marketing Management, An Organizational Approach : Text and Cases. PWS-KENT Publishing Company. p. 107. ISBN 9780136049968. Search this book on
- ↑ Charles Doyle (2011). A Dictionary of Marketing (3 ed.). Oxford University Press. doi:10.1093/acref/9780199590230.001.0001. ISBN 9780191727962. Search this book on
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