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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 .
Vertical integration can be desirable because it secures supplies needed by the firm to produce its product and the market needed to sell the product, but it can become undesirable when a firm's actions become anti-competitive and impede free competition in an open marketplace. Vertical integration is one method of avoiding the hold-up problem.
Horizontal market, a market characterized by a product or service meeting the needs of a wide range of buyers across different sectors Vertical market , a market characterized by goods and services being offered to a specific industry or group of customers with specialized needs
Benefits of horizontal integration include: increasing economies of scale, expanding an existing market, and improving product differentiation. Horizontal integration contrasts with vertical integration , where companies integrate multiple stages of production of a small number of production units.
Horizontal: based on a single characteristic but consumers are not clear on quality; Vertical: based on a single characteristic and consumers are clear on its quality [5] The brand differences are mostly minor; they can be merely a difference in packaging or an advertising theme. The physical product need not change, but it may.
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There are two type of Diversification; horizontal and vertical. Horizontal diversification focuses more on the product(s) where the business is knowledgeable, whereas vertical diversification focuses more on the introduction of new product into new markets, where the business could have less knowledge of the new market. [67] Horizontal integration
Today's spangram is horizontal (left to right). Related: The 26 Funniest NYT Connections Game Memes You'll Appreciate if You Do This Daily Word Puzzle What Are Today’s NYT Strands Hints?