Horizontal And Vertical 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 the needs of a wide range of buyers across different sectors of an economy.
Types
There are three types of vertical markets 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 to its size and power.
- Contractual vertical markets are created by independent companies that combine market stages through legal agreements.
See also
References
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