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

Tech companies sometimes focus on vertical markets for more targeted product development. A tech CEO might state, 'Our cybersecurity solutions are designed for the healthcare vertical market, addressing their unique security needs.'

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.

Technology

Scenario:

Our latest application is a powerful tool for HR managers. It provides an easy-to-use, integrated platform for human resources management.

Response:

Sounds like this application covers a key vertical market for HR. Let's work on refining its features for our target audience.