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.
 * 1) Corporate vertical markets combine market stages under single ownership.
 * 2) Administered vertical markets are coordinated by one company due to its size and power.
 * 3) Contractual vertical markets are created by independent companies that combine market stages through legal agreements.