vertical-market

Vocabulary Word

Definition

'Vertical market' involves consumers or businesses within a specific industry that have similar and specific needs. It's unlike a 'horizontal market' that caters to a wide variety of consumers

Examples in Different Contexts

In business, companies often target vertical markets to offer specialized solutions. A marketing expert might comment, 'Our agency develops advertising strategies for the luxury goods vertical market.'

Practice Scenarios

Startup

Scenario:

Our new software focuses specifically on real estate brokers. It empowers them with real-time, data-driven insights to augment their client acquisition campaigns.

Response:

That's great! We can definitely capture this vertical market and deliver a product that fits their needs.

Product

Scenario:

Our new line of skincare products have been formulated specifically for people with sensitive skin. We have focused on natural, hypoallergenic ingredients.

Response:

This skincare line should be successful in the vertical market of people with sensitive skin. Let's consider how best to promote it.