- published: 09 Sep 2022
- views: 17054
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. An example could be software that manages services in hotels - amenities solutions. It is distinguished from a horizontal market, in which vendors offer a broad range of goods and services to a large group of customers with a wide range of needs, such as businesses as a whole, men, women, households, or, in the broadest horizontal market, everyone.
The activities of participants within any given vertical market are typically similar in that they aim at solving the same or similar problems. These markets are typically competitive, because of the overlapping focuses of the products and services that are provided to the customers.
The single defining characteristic of the participants in a vertical market is competition within a well-defined segment.
Horizontal market participants often attempt to meet enough of the different needs of vertical markets to gain a presence in the vertical market. Their similar products/services tend to be less of a fit but also less expensive than specialized, vertical participant solutions.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Vertical_market
Podcasts:
-
Vertical Marketing: Vertical marketing system
Vertical marketing is a marketing in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. Imagine that 3 different companies: company A - a manufacturer, company B - a wholesaler, and company C - a retailer make many purchases with each other. However, the logistics work between A and B companies is performed by another company, and the logistics work between B and C companies is performed by another company. In this case, the service quality and prices of those logistics companies are different. Later, these 3 companies - A, B, C decide to systematically cooperate. So, if they cooperated with 2 logistics companies before, now they start working with only one logistics company. In such a case, the orders rec...
published: 09 Sep 2022 -
Steve Blank-Vertical vs. Horizontal Markets
In this clip, the difference between vertical markets - niche players serving a specific need or customer set; and horizontal markets - goods or services that enable a platitude of businesses - are defined for the student of entrepreneurship.
published: 28 Aug 2013 -
What is a Vertical Market?
Learn more about vertical markets, specialized markets that focus on a specific industry or niche. This video explains what a vertical market is, how it differs from broader markets, and why businesses target these niches to serve the unique needs of a particular audience. Join this channel to get access to perks: https://www.youtube.com/channel/UCI8Xs2oPTMb9DkuYsEqCnnQ/join
published: 01 Jul 2024 -
What Are Vertical Markets
Placement of art can happen in a variety of places in the market. A vertical market is like a slice of the corporate market that is specialized and presents its own challenges and needs. Places open to the public require much different needs than those that are more private. The Clark Hulings Fund is dedicated to making you into the best artist, art collector, or arts organization that you can be. We turn working artists into Thriving Artists. And our classes are taught by industry professionals here to assist you and provide support as you grow into a business savvy creative.
published: 18 Jun 2019 -
Vertical market - defined
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 specialised needs. Examples of vertical markets include banking, education, consumer, accounting, energy, insurance to name a few. Reference: http://en.wikipedia.org/wiki/Vertical_market - created at http://www.b2bwhiteboard.com
published: 03 Mar 2013 -
Understanding Vertical Market
Explain : Vertical Market A vertical market is a market encompassing a group of companies and customers that are all interconnected around a specific niche. Companies in a vertical market are attuned to that market’s specialized needs and generally do not serve a broader market. As such, vertical markets typically have their own set of business standards. They may also have high barriers to entry for new companies.
published: 11 Aug 2021 -
Types of Vertical Marketing System(+ Examples )
In this video I have explained VERY Important concept of Marketing Management (Unit 4) in simple ENGLISH Integrated Marketing Communication: https://youtu.be/Q9bv-8vZN1k We have other videos related to this subject. Go check out other Marketing Management Playlist. Recent Videos - Marketing Mix : https://youtu.be/pZxlWO9fCjw Consumer Decision Making Process: https://youtu.be/-l0IFDadpMc Product Life Cycle : https://youtu.be/W98juyuajAs For More Videos subscribe my channel.. https://www.youtube.com/channel/UCKo8.. Do SUBSCRIBE my channel for more video's related to different topics of MBA , BBA, B.Com, Marketing ,HR etc. #vms #typesofVMS #verticalmarketingsystem #hrm #humanresources #readytoshare #humanresoucemanagement...
published: 25 Jul 2023 -
There's a ton of opportunity in the vertical software space, says Wolfe Research's Munda
Gal Munda, Wolfe Research director, joins 'TechCheck' to discuss whether we're in a period of increased productivity, how companies are thinking about technology and what parts of enterprise software are essential and nonessential. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginn...
published: 02 Sep 2022 -
3 Steps to Choosing a Vertical Market
How can narrowing your focus open the door to big opportunities? In this episode, Corey unpacks the transformative power of specialization and why choosing the right vertical market is key to agency success. He shares a simple 3-step framework to identify the perfect niche: tapping into your expertise, following your genuine interests, and analyzing the market for growth potential. Along the way, Corey sheds light on common mistakes to avoid when niching down, like targeting a market that’s too small or one that doesn’t align with your agency’s core passions. Whether you’re refining your strategy or starting fresh, this episode offers practical advice to help you carve out your niche, stand out from the crowd, and build an agency that thrives. Here’s what we cover in this episode: - Tip...
published: 27 Nov 2024 -
Vertical integration explained
All you need to know about vertical integration in 3 minutes. What is vertical integration? What is meant by backward and forward vertical integration? And when does vertical integration make sense; what are the benefits and risks of vertical integration?
published: 08 Nov 2020
developed with YouTube
6:30
Vertical Marketing: Vertical marketing system
- Order: Reorder
- Duration: 6:30
- Uploaded Date: 09 Sep 2022
- views: 17054
Vertical marketing is a marketing in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with special...
Vertical marketing is a marketing in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. Imagine that 3 different companies: company A - a manufacturer, company B - a wholesaler, and company C - a retailer make many purchases with each other. However, the logistics work between A and B companies is performed by another company, and the logistics work between B and C companies is performed by another company. In this case, the service quality and prices of those logistics companies are different. Later, these 3 companies - A, B, C decide to systematically cooperate. So, if they cooperated with 2 logistics companies before, now they start working with only one logistics company. In such a case, the orders received by that logistics company doubles, and that company naturally starts offering services to the mentioned companies at lower price.
From these short examples of 3 companies, we saw that the systematic cooperation of those companies had a positive effect on their costs and reduced the cost of the final product. This in itself means a more profitable result. That is, as a result of these collaborations, they can become more competitive by reducing the price of the final product they present on the market.
In our previous videos, we have talked about some topics related to marketing and marketing. Marketing performs a number of important functions such as introducing and selling the product to the buyer. Today's topic is also related to marketing.
In simple terms, marketing is a tool to deliver the product to the user. The paths through which the product is produced until it reaches the consumer are called marketing channels. For example, the manufacturer of a product, the company that sells it wholesale, and finally the company that retails to the consumer are all considered part of this marketing channel.
Those marketing channels mainly come in two forms: traditional or horizontal and vertical marketing systems.
The main topic of today's video is the vertical marketing system. Simply put, a vertical marketing system is when companies that produce products in the same market work together to deliver the product to the buyer. The components of this system are the manufacturer, distributor and retailer of the product. The manufacturer produces the product, the distributor buys the product from the manufacturer and distributes it to the retailers, and finally the retailers transfer the product to the consumer. All three companies work together to maximize their profits. I should also note that the term distributor, which I used earlier, and which you will hear frequently throughout the video, refers to companies that engage in the wholesale sale of products.
It should also be noted that there are three types of vertical marketing system. The first of these is the corporate vertical marketing system. In this vertical marketing system, one participant of the marketing channel controls the whole process himself. That is, the process of product production, market distribution and retail sale is managed by just one center. For example, let's take a look at "ZARA", which has made its owner a billionaire and is one of the most famous clothing brands in the world. This $14.7 billion company uses a corporate vertical marketing system. There are approximately 3,000 ZARA stores around the world. The products sold in these stores are first designed in the center in Spain, and then the production process begins. The products produced are still distributed by "ZARA" to its official stores. In the end, those products are delivered to the buyer through ZARA's own stores. As you can see, all processes are managed by a center. This makes ZARA a suitable example of a corporate vertical marketing system.
Another vertical marketing system is the contractual system. In this system, which is called a contractual vertical marketing system, each of the companies involved in the production, distribution and retail sales manage themselves separately. But all three try to increase their income by acting together according to the agreement between them. Franchise companies work under this type of vertical marketing system. If I explain franchising in the shortest way, I can say that franchising is a license, rights and information about the working mechanism of this business given by one business party to another party to establish this business elsewhere. For example, the Hilton hotel, which has branches in many countries, is an example of franchising. If you want to open a Hilton hotel, you can get a license by paying $75,000. In addition, if the number of rooms in the hotel you open is more than 250, you must pay $400 for each additional room.
#marketing #verticalmarketing #vertical marketing system
🚀 Explore Your Industry-Specific Marketing Course: https://easymarketingschool.org/courses/
https://wn.com/Vertical_Marketing_Vertical_Marketing_System
Vertical marketing is a marketing in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. Imagine that 3 different companies: company A - a manufacturer, company B - a wholesaler, and company C - a retailer make many purchases with each other. However, the logistics work between A and B companies is performed by another company, and the logistics work between B and C companies is performed by another company. In this case, the service quality and prices of those logistics companies are different. Later, these 3 companies - A, B, C decide to systematically cooperate. So, if they cooperated with 2 logistics companies before, now they start working with only one logistics company. In such a case, the orders received by that logistics company doubles, and that company naturally starts offering services to the mentioned companies at lower price.
From these short examples of 3 companies, we saw that the systematic cooperation of those companies had a positive effect on their costs and reduced the cost of the final product. This in itself means a more profitable result. That is, as a result of these collaborations, they can become more competitive by reducing the price of the final product they present on the market.
In our previous videos, we have talked about some topics related to marketing and marketing. Marketing performs a number of important functions such as introducing and selling the product to the buyer. Today's topic is also related to marketing.
In simple terms, marketing is a tool to deliver the product to the user. The paths through which the product is produced until it reaches the consumer are called marketing channels. For example, the manufacturer of a product, the company that sells it wholesale, and finally the company that retails to the consumer are all considered part of this marketing channel.
Those marketing channels mainly come in two forms: traditional or horizontal and vertical marketing systems.
The main topic of today's video is the vertical marketing system. Simply put, a vertical marketing system is when companies that produce products in the same market work together to deliver the product to the buyer. The components of this system are the manufacturer, distributor and retailer of the product. The manufacturer produces the product, the distributor buys the product from the manufacturer and distributes it to the retailers, and finally the retailers transfer the product to the consumer. All three companies work together to maximize their profits. I should also note that the term distributor, which I used earlier, and which you will hear frequently throughout the video, refers to companies that engage in the wholesale sale of products.
It should also be noted that there are three types of vertical marketing system. The first of these is the corporate vertical marketing system. In this vertical marketing system, one participant of the marketing channel controls the whole process himself. That is, the process of product production, market distribution and retail sale is managed by just one center. For example, let's take a look at "ZARA", which has made its owner a billionaire and is one of the most famous clothing brands in the world. This $14.7 billion company uses a corporate vertical marketing system. There are approximately 3,000 ZARA stores around the world. The products sold in these stores are first designed in the center in Spain, and then the production process begins. The products produced are still distributed by "ZARA" to its official stores. In the end, those products are delivered to the buyer through ZARA's own stores. As you can see, all processes are managed by a center. This makes ZARA a suitable example of a corporate vertical marketing system.
Another vertical marketing system is the contractual system. In this system, which is called a contractual vertical marketing system, each of the companies involved in the production, distribution and retail sales manage themselves separately. But all three try to increase their income by acting together according to the agreement between them. Franchise companies work under this type of vertical marketing system. If I explain franchising in the shortest way, I can say that franchising is a license, rights and information about the working mechanism of this business given by one business party to another party to establish this business elsewhere. For example, the Hilton hotel, which has branches in many countries, is an example of franchising. If you want to open a Hilton hotel, you can get a license by paying $75,000. In addition, if the number of rooms in the hotel you open is more than 250, you must pay $400 for each additional room.
#marketing #verticalmarketing #vertical marketing system
🚀 Explore Your Industry-Specific Marketing Course: https://easymarketingschool.org/courses/
1:33
Steve Blank-Vertical vs. Horizontal Markets
- Order: Reorder
- Duration: 1:33
- Uploaded Date: 28 Aug 2013
- views: 6482
In this clip, the difference between vertical markets - niche players serving a specific need or customer set; and horizontal markets - goods or services that e...
In this clip, the difference between vertical markets - niche players serving a specific need or customer set; and horizontal markets - goods or services that enable a platitude of businesses - are defined for the student of
entrepreneurship.
https://wn.com/Steve_Blank_Vertical_Vs._Horizontal_Markets
In this clip, the difference between vertical markets - niche players serving a specific need or customer set; and horizontal markets - goods or services that enable a platitude of businesses - are defined for the student of
entrepreneurship.
- published: 28 Aug 2013
- views: 6482
5:34
What is a Vertical Market?
- Order: Reorder
- Duration: 5:34
- Uploaded Date: 01 Jul 2024
- views: 234
Learn more about vertical markets, specialized markets that focus on a specific industry or niche. This video explains what a vertical market is, how it differs...
Learn more about vertical markets, specialized markets that focus on a specific industry or niche. This video explains what a vertical market is, how it differs from broader markets, and why businesses target these niches to serve the unique needs of a particular audience.
Join this channel to get access to perks:
https://www.youtube.com/channel/UCI8Xs2oPTMb9DkuYsEqCnnQ/join
https://wn.com/What_Is_A_Vertical_Market
Learn more about vertical markets, specialized markets that focus on a specific industry or niche. This video explains what a vertical market is, how it differs from broader markets, and why businesses target these niches to serve the unique needs of a particular audience.
Join this channel to get access to perks:
https://www.youtube.com/channel/UCI8Xs2oPTMb9DkuYsEqCnnQ/join
- published: 01 Jul 2024
- views: 234
1:23
What Are Vertical Markets
- Order: Reorder
- Duration: 1:23
- Uploaded Date: 18 Jun 2019
- views: 506
Placement of art can happen in a variety of places in the market. A vertical market is like a slice of the corporate market that is specialized and presents its...
Placement of art can happen in a variety of places in the market. A vertical market is like a slice of the corporate market that is specialized and presents its own challenges and needs. Places open to the public require much different needs than those that are more private.
The Clark Hulings Fund is dedicated to making you into the best artist, art collector, or arts organization that you can be. We turn working artists into Thriving Artists. And our classes are taught by industry professionals here to assist you and provide support as you grow into a business savvy creative.
https://wn.com/What_Are_Vertical_Markets
Placement of art can happen in a variety of places in the market. A vertical market is like a slice of the corporate market that is specialized and presents its own challenges and needs. Places open to the public require much different needs than those that are more private.
The Clark Hulings Fund is dedicated to making you into the best artist, art collector, or arts organization that you can be. We turn working artists into Thriving Artists. And our classes are taught by industry professionals here to assist you and provide support as you grow into a business savvy creative.
- published: 18 Jun 2019
- views: 506
0:41
Vertical market - defined
- Order: Reorder
- Duration: 0:41
- Uploaded Date: 03 Mar 2013
- views: 9121
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 specialis...
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 specialised needs.
Examples of vertical markets include banking, education, consumer, accounting, energy, insurance to name a few.
Reference: http://en.wikipedia.org/wiki/Vertical_market
- created at http://www.b2bwhiteboard.com
https://wn.com/Vertical_Market_Defined
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 specialised needs.
Examples of vertical markets include banking, education, consumer, accounting, energy, insurance to name a few.
Reference: http://en.wikipedia.org/wiki/Vertical_market
- created at http://www.b2bwhiteboard.com
- published: 03 Mar 2013
- views: 9121
2:23
Understanding Vertical Market
- Order: Reorder
- Duration: 2:23
- Uploaded Date: 11 Aug 2021
- views: 798
Explain : Vertical Market
A vertical market is a market encompassing a group of companies and customers that are all interconnected around a specific niche. Co...
Explain : Vertical Market
A vertical market is a market encompassing a group of companies and customers that are all interconnected around a specific niche. Companies in a vertical market are attuned to that market’s specialized needs and generally do not serve a broader market. As such, vertical markets typically have their own set of business standards. They may also have high barriers to entry for new companies.
https://wn.com/Understanding_Vertical_Market
Explain : Vertical Market
A vertical market is a market encompassing a group of companies and customers that are all interconnected around a specific niche. Companies in a vertical market are attuned to that market’s specialized needs and generally do not serve a broader market. As such, vertical markets typically have their own set of business standards. They may also have high barriers to entry for new companies.
- published: 11 Aug 2021
- views: 798
3:47
Types of Vertical Marketing System(+ Examples )
- Order: Reorder
- Duration: 3:47
- Uploaded Date: 25 Jul 2023
- views: 1983
In this video I have explained VERY Important concept of Marketing Management (Unit 4) in simple ENGLISH
Integrated Marketing Communication: https://youtu.be/Q...
In this video I have explained VERY Important concept of Marketing Management (Unit 4) in simple ENGLISH
Integrated Marketing Communication: https://youtu.be/Q9bv-8vZN1k
We have other videos related to this subject.
Go check out other Marketing Management Playlist.
Recent Videos - Marketing Mix : https://youtu.be/pZxlWO9fCjw
Consumer Decision Making Process: https://youtu.be/-l0IFDadpMc
Product Life Cycle : https://youtu.be/W98juyuajAs
For More Videos subscribe my channel.. https://www.youtube.com/channel/UCKo8..
Do SUBSCRIBE my channel for more video's related to different topics of MBA , BBA, B.Com, Marketing ,HR etc.
#vms #typesofVMS #verticalmarketingsystem
#hrm #humanresources #readytoshare #humanresoucemanagement #mba #bba #bcom #veticalmarketingimplementation #whatisvms?explain #explainVMS #VMSinMarketing #marketingmanagement #marketing #bba #READYTOSHARE #bcom #mba
--------------------------------------------------------------------------------------------------------------------------Thanks For Watching
-------------------------------------------------------------------------------------------------------------------------- For BUSINESS Contact: [email protected]
https://wn.com/Types_Of_Vertical_Marketing_System(_Examples_)
In this video I have explained VERY Important concept of Marketing Management (Unit 4) in simple ENGLISH
Integrated Marketing Communication: https://youtu.be/Q9bv-8vZN1k
We have other videos related to this subject.
Go check out other Marketing Management Playlist.
Recent Videos - Marketing Mix : https://youtu.be/pZxlWO9fCjw
Consumer Decision Making Process: https://youtu.be/-l0IFDadpMc
Product Life Cycle : https://youtu.be/W98juyuajAs
For More Videos subscribe my channel.. https://www.youtube.com/channel/UCKo8..
Do SUBSCRIBE my channel for more video's related to different topics of MBA , BBA, B.Com, Marketing ,HR etc.
#vms #typesofVMS #verticalmarketingsystem
#hrm #humanresources #readytoshare #humanresoucemanagement #mba #bba #bcom #veticalmarketingimplementation #whatisvms?explain #explainVMS #VMSinMarketing #marketingmanagement #marketing #bba #READYTOSHARE #bcom #mba
--------------------------------------------------------------------------------------------------------------------------Thanks For Watching
-------------------------------------------------------------------------------------------------------------------------- For BUSINESS Contact: [email protected]
- published: 25 Jul 2023
- views: 1983
3:25
There's a ton of opportunity in the vertical software space, says Wolfe Research's Munda
- Order: Reorder
- Duration: 3:25
- Uploaded Date: 02 Sep 2022
- views: 1792
Gal Munda, Wolfe Research director, joins 'TechCheck' to discuss whether we're in a period of increased productivity, how companies are thinking about technolog...
Gal Munda, Wolfe Research director, joins 'TechCheck' to discuss whether we're in a period of increased productivity, how companies are thinking about technology and what parts of enterprise software are essential and nonessential. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
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#CNBC
#CNBCTV
https://wn.com/There's_A_Ton_Of_Opportunity_In_The_Vertical_Software_Space,_Says_Wolfe_Research's_Munda
Gal Munda, Wolfe Research director, joins 'TechCheck' to discuss whether we're in a period of increased productivity, how companies are thinking about technology and what parts of enterprise software are essential and nonessential. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
https://www.cnbc.com/select/best-credit-cards/
#CNBC
#CNBCTV
- published: 02 Sep 2022
- views: 1792
30:41
3 Steps to Choosing a Vertical Market
- Order: Reorder
- Duration: 30:41
- Uploaded Date: 27 Nov 2024
- views: 30
How can narrowing your focus open the door to big opportunities?
In this episode, Corey unpacks the transformative power of specialization and why choosing the...
How can narrowing your focus open the door to big opportunities?
In this episode, Corey unpacks the transformative power of specialization and why choosing the right vertical market is key to agency success. He shares a simple 3-step framework to identify the perfect niche: tapping into your expertise, following your genuine interests, and analyzing the market for growth potential.
Along the way, Corey sheds light on common mistakes to avoid when niching down, like targeting a market that’s too small or one that doesn’t align with your agency’s core passions. Whether you’re refining your strategy or starting fresh, this episode offers practical advice to help you carve out your niche, stand out from the crowd, and build an agency that thrives.
Here’s what we cover in this episode:
- Tips for choosing a vertical market for your agency
- How to identify characteristics of a good vertical market
- How specialized agencies grow faster than generalists
- Common pitfalls to avoid when specializing
- Why market research is crucial for selecting a vertical
- How to leverage community and networking opportunities for agency growth
- Why it's never too late to specialize
Here are some actionable key takeaways for agency founders:
- Choosing a vertical market can lead to long-term success.
- Specialized agencies grow faster than generalists.
- Market research is essential before committing to a vertical. Be sure to gather insights from your existing client base.
- Avoid markets that are too small or declining in demand.
- Consider the revenue potential of the vertical market.
- Use community and networking opportunities to explore new opportunities for growth and specialization.
- Look for verticals with professional requirements.
- Empathy towards clients is the key to differentiating yourself from your competitors.
- It's never too late to specialize!
The resources mentioned in this episode are:
- Research your desired vertical's business data, potential growth, and total addressable market value with IBISWorld: https://www.ibisworld.com
- Directory of Associations: https://directoryofassociations.com
👍If you liked this episode, please rate and review us on Apple Podcasts, and be sure to hit the subscribe button! 🔔
😡Frustrated with a lack of results from outbound? I'd like to give you my free 6-day email course that will transform your outbound program from broken to consistently driving new sales opportunities. Sign up here: GetOutboundROI.com.
More content from Corey:
Corey’s Website: https://www.coreyquinn.com
Corey’s Daily Tips: https://www.coreyquinn.com/blog
Podcast Website: https://www.coreyquinn.com/podcasts/the-deep-specialization-podcast
Podcast YouTube Channel: https://youtube.com/@coreyquinninc?sub_confirmation=1
This episode is sponsored by E2M, the #1 white-label partner for digital agencies. Visit https://www.e2msolutions.com/the-deep-specialization-podcast to get 20% off your first month.
This episode was produced and brought to you by Reignite Media.
00:00 Intro
01:28 Debunking the Myth of Specialization
03:45 Benefits of Specializing Your Agency
08:13 Identifying a Good Vertical Market
15:45 Three Steps to Choosing Your Vertical
#agencygrowth #agencylife #marketingpodcast #deepspecialization #verticalization #verticalmarket
https://wn.com/3_Steps_To_Choosing_A_Vertical_Market
How can narrowing your focus open the door to big opportunities?
In this episode, Corey unpacks the transformative power of specialization and why choosing the right vertical market is key to agency success. He shares a simple 3-step framework to identify the perfect niche: tapping into your expertise, following your genuine interests, and analyzing the market for growth potential.
Along the way, Corey sheds light on common mistakes to avoid when niching down, like targeting a market that’s too small or one that doesn’t align with your agency’s core passions. Whether you’re refining your strategy or starting fresh, this episode offers practical advice to help you carve out your niche, stand out from the crowd, and build an agency that thrives.
Here’s what we cover in this episode:
- Tips for choosing a vertical market for your agency
- How to identify characteristics of a good vertical market
- How specialized agencies grow faster than generalists
- Common pitfalls to avoid when specializing
- Why market research is crucial for selecting a vertical
- How to leverage community and networking opportunities for agency growth
- Why it's never too late to specialize
Here are some actionable key takeaways for agency founders:
- Choosing a vertical market can lead to long-term success.
- Specialized agencies grow faster than generalists.
- Market research is essential before committing to a vertical. Be sure to gather insights from your existing client base.
- Avoid markets that are too small or declining in demand.
- Consider the revenue potential of the vertical market.
- Use community and networking opportunities to explore new opportunities for growth and specialization.
- Look for verticals with professional requirements.
- Empathy towards clients is the key to differentiating yourself from your competitors.
- It's never too late to specialize!
The resources mentioned in this episode are:
- Research your desired vertical's business data, potential growth, and total addressable market value with IBISWorld: https://www.ibisworld.com
- Directory of Associations: https://directoryofassociations.com
👍If you liked this episode, please rate and review us on Apple Podcasts, and be sure to hit the subscribe button! 🔔
😡Frustrated with a lack of results from outbound? I'd like to give you my free 6-day email course that will transform your outbound program from broken to consistently driving new sales opportunities. Sign up here: GetOutboundROI.com.
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Podcast Website: https://www.coreyquinn.com/podcasts/the-deep-specialization-podcast
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This episode is sponsored by E2M, the #1 white-label partner for digital agencies. Visit https://www.e2msolutions.com/the-deep-specialization-podcast to get 20% off your first month.
This episode was produced and brought to you by Reignite Media.
00:00 Intro
01:28 Debunking the Myth of Specialization
03:45 Benefits of Specializing Your Agency
08:13 Identifying a Good Vertical Market
15:45 Three Steps to Choosing Your Vertical
#agencygrowth #agencylife #marketingpodcast #deepspecialization #verticalization #verticalmarket
- published: 27 Nov 2024
- views: 30
3:25
Vertical integration explained
- Order: Reorder
- Duration: 3:25
- Uploaded Date: 08 Nov 2020
- views: 68551
All you need to know about vertical integration in 3 minutes. What is vertical integration? What is meant by backward and forward vertical integration? And when...
All you need to know about vertical integration in 3 minutes. What is vertical integration? What is meant by backward and forward vertical integration? And when does vertical integration make sense; what are the benefits and risks of vertical integration?
https://wn.com/Vertical_Integration_Explained
All you need to know about vertical integration in 3 minutes. What is vertical integration? What is meant by backward and forward vertical integration? And when does vertical integration make sense; what are the benefits and risks of vertical integration?
- published: 08 Nov 2020
- views: 68551
6:30
Vertical Marketing: Vertical marketing system
Vertical marketing is a marketing in which vendors offer goods and services specific to an...
published: 09 Sep 2022
Vertical Marketing: Vertical marketing system
Vertical Marketing: Vertical marketing system
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- published: 09 Sep 2022
- views: 17054
Vertical marketing is a marketing in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. Imagine that 3 different companies: company A - a manufacturer, company B - a wholesaler, and company C - a retailer make many purchases with each other. However, the logistics work between A and B companies is performed by another company, and the logistics work between B and C companies is performed by another company. In this case, the service quality and prices of those logistics companies are different. Later, these 3 companies - A, B, C decide to systematically cooperate. So, if they cooperated with 2 logistics companies before, now they start working with only one logistics company. In such a case, the orders received by that logistics company doubles, and that company naturally starts offering services to the mentioned companies at lower price.
From these short examples of 3 companies, we saw that the systematic cooperation of those companies had a positive effect on their costs and reduced the cost of the final product. This in itself means a more profitable result. That is, as a result of these collaborations, they can become more competitive by reducing the price of the final product they present on the market.
In our previous videos, we have talked about some topics related to marketing and marketing. Marketing performs a number of important functions such as introducing and selling the product to the buyer. Today's topic is also related to marketing.
In simple terms, marketing is a tool to deliver the product to the user. The paths through which the product is produced until it reaches the consumer are called marketing channels. For example, the manufacturer of a product, the company that sells it wholesale, and finally the company that retails to the consumer are all considered part of this marketing channel.
Those marketing channels mainly come in two forms: traditional or horizontal and vertical marketing systems.
The main topic of today's video is the vertical marketing system. Simply put, a vertical marketing system is when companies that produce products in the same market work together to deliver the product to the buyer. The components of this system are the manufacturer, distributor and retailer of the product. The manufacturer produces the product, the distributor buys the product from the manufacturer and distributes it to the retailers, and finally the retailers transfer the product to the consumer. All three companies work together to maximize their profits. I should also note that the term distributor, which I used earlier, and which you will hear frequently throughout the video, refers to companies that engage in the wholesale sale of products.
It should also be noted that there are three types of vertical marketing system. The first of these is the corporate vertical marketing system. In this vertical marketing system, one participant of the marketing channel controls the whole process himself. That is, the process of product production, market distribution and retail sale is managed by just one center. For example, let's take a look at "ZARA", which has made its owner a billionaire and is one of the most famous clothing brands in the world. This $14.7 billion company uses a corporate vertical marketing system. There are approximately 3,000 ZARA stores around the world. The products sold in these stores are first designed in the center in Spain, and then the production process begins. The products produced are still distributed by "ZARA" to its official stores. In the end, those products are delivered to the buyer through ZARA's own stores. As you can see, all processes are managed by a center. This makes ZARA a suitable example of a corporate vertical marketing system.
Another vertical marketing system is the contractual system. In this system, which is called a contractual vertical marketing system, each of the companies involved in the production, distribution and retail sales manage themselves separately. But all three try to increase their income by acting together according to the agreement between them. Franchise companies work under this type of vertical marketing system. If I explain franchising in the shortest way, I can say that franchising is a license, rights and information about the working mechanism of this business given by one business party to another party to establish this business elsewhere. For example, the Hilton hotel, which has branches in many countries, is an example of franchising. If you want to open a Hilton hotel, you can get a license by paying $75,000. In addition, if the number of rooms in the hotel you open is more than 250, you must pay $400 for each additional room.
#marketing #verticalmarketing #vertical marketing system
🚀 Explore Your Industry-Specific Marketing Course: https://easymarketingschool.org/courses/
1:33
Steve Blank-Vertical vs. Horizontal Markets
In this clip, the difference between vertical markets - niche players serving a specific n...
published: 28 Aug 2013
Steve Blank-Vertical vs. Horizontal Markets
Steve Blank-Vertical vs. Horizontal Markets
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- published: 28 Aug 2013
- views: 6482
In this clip, the difference between vertical markets - niche players serving a specific need or customer set; and horizontal markets - goods or services that enable a platitude of businesses - are defined for the student of
entrepreneurship.
5:34
What is a Vertical Market?
Learn more about vertical markets, specialized markets that focus on a specific industry o...
published: 01 Jul 2024
What is a Vertical Market?
What is a Vertical Market?
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- published: 01 Jul 2024
- views: 234
Learn more about vertical markets, specialized markets that focus on a specific industry or niche. This video explains what a vertical market is, how it differs from broader markets, and why businesses target these niches to serve the unique needs of a particular audience.
Join this channel to get access to perks:
https://www.youtube.com/channel/UCI8Xs2oPTMb9DkuYsEqCnnQ/join
1:23
What Are Vertical Markets
Placement of art can happen in a variety of places in the market. A vertical market is lik...
published: 18 Jun 2019
What Are Vertical Markets
What Are Vertical Markets
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- published: 18 Jun 2019
- views: 506
Placement of art can happen in a variety of places in the market. A vertical market is like a slice of the corporate market that is specialized and presents its own challenges and needs. Places open to the public require much different needs than those that are more private.
The Clark Hulings Fund is dedicated to making you into the best artist, art collector, or arts organization that you can be. We turn working artists into Thriving Artists. And our classes are taught by industry professionals here to assist you and provide support as you grow into a business savvy creative.
0:41
Vertical market - defined
A vertical market, is a market in which vendors offer goods and services specific to an i...
published: 03 Mar 2013
Vertical market - defined
Vertical market - defined
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- published: 03 Mar 2013
- views: 9121
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 specialised needs.
Examples of vertical markets include banking, education, consumer, accounting, energy, insurance to name a few.
Reference: http://en.wikipedia.org/wiki/Vertical_market
- created at http://www.b2bwhiteboard.com
2:23
Understanding Vertical Market
Explain : Vertical Market
A vertical market is a market encompassing a group of companies...
published: 11 Aug 2021
Understanding Vertical Market
Understanding Vertical Market
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- published: 11 Aug 2021
- views: 798
Explain : Vertical Market
A vertical market is a market encompassing a group of companies and customers that are all interconnected around a specific niche. Companies in a vertical market are attuned to that market’s specialized needs and generally do not serve a broader market. As such, vertical markets typically have their own set of business standards. They may also have high barriers to entry for new companies.
3:47
Types of Vertical Marketing System(+ Examples )
In this video I have explained VERY Important concept of Marketing Management (Unit 4) in ...
published: 25 Jul 2023
Types of Vertical Marketing System(+ Examples )
Types of Vertical Marketing System(+ Examples )
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- published: 25 Jul 2023
- views: 1983
In this video I have explained VERY Important concept of Marketing Management (Unit 4) in simple ENGLISH
Integrated Marketing Communication: https://youtu.be/Q9bv-8vZN1k
We have other videos related to this subject.
Go check out other Marketing Management Playlist.
Recent Videos - Marketing Mix : https://youtu.be/pZxlWO9fCjw
Consumer Decision Making Process: https://youtu.be/-l0IFDadpMc
Product Life Cycle : https://youtu.be/W98juyuajAs
For More Videos subscribe my channel.. https://www.youtube.com/channel/UCKo8..
Do SUBSCRIBE my channel for more video's related to different topics of MBA , BBA, B.Com, Marketing ,HR etc.
#vms #typesofVMS #verticalmarketingsystem
#hrm #humanresources #readytoshare #humanresoucemanagement #mba #bba #bcom #veticalmarketingimplementation #whatisvms?explain #explainVMS #VMSinMarketing #marketingmanagement #marketing #bba #READYTOSHARE #bcom #mba
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3:25
There's a ton of opportunity in the vertical software space, says Wolfe Research's Munda
Gal Munda, Wolfe Research director, joins 'TechCheck' to discuss whether we're in a period...
published: 02 Sep 2022
There's a ton of opportunity in the vertical software space, says Wolfe Research's Munda
There's a ton of opportunity in the vertical software space, says Wolfe Research's Munda
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- published: 02 Sep 2022
- views: 1792
Gal Munda, Wolfe Research director, joins 'TechCheck' to discuss whether we're in a period of increased productivity, how companies are thinking about technology and what parts of enterprise software are essential and nonessential. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
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30:41
3 Steps to Choosing a Vertical Market
How can narrowing your focus open the door to big opportunities?
In this episode, Corey u...
published: 27 Nov 2024
3 Steps to Choosing a Vertical Market
3 Steps to Choosing a Vertical Market
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- published: 27 Nov 2024
- views: 30
How can narrowing your focus open the door to big opportunities?
In this episode, Corey unpacks the transformative power of specialization and why choosing the right vertical market is key to agency success. He shares a simple 3-step framework to identify the perfect niche: tapping into your expertise, following your genuine interests, and analyzing the market for growth potential.
Along the way, Corey sheds light on common mistakes to avoid when niching down, like targeting a market that’s too small or one that doesn’t align with your agency’s core passions. Whether you’re refining your strategy or starting fresh, this episode offers practical advice to help you carve out your niche, stand out from the crowd, and build an agency that thrives.
Here’s what we cover in this episode:
- Tips for choosing a vertical market for your agency
- How to identify characteristics of a good vertical market
- How specialized agencies grow faster than generalists
- Common pitfalls to avoid when specializing
- Why market research is crucial for selecting a vertical
- How to leverage community and networking opportunities for agency growth
- Why it's never too late to specialize
Here are some actionable key takeaways for agency founders:
- Choosing a vertical market can lead to long-term success.
- Specialized agencies grow faster than generalists.
- Market research is essential before committing to a vertical. Be sure to gather insights from your existing client base.
- Avoid markets that are too small or declining in demand.
- Consider the revenue potential of the vertical market.
- Use community and networking opportunities to explore new opportunities for growth and specialization.
- Look for verticals with professional requirements.
- Empathy towards clients is the key to differentiating yourself from your competitors.
- It's never too late to specialize!
The resources mentioned in this episode are:
- Research your desired vertical's business data, potential growth, and total addressable market value with IBISWorld: https://www.ibisworld.com
- Directory of Associations: https://directoryofassociations.com
👍If you liked this episode, please rate and review us on Apple Podcasts, and be sure to hit the subscribe button! 🔔
😡Frustrated with a lack of results from outbound? I'd like to give you my free 6-day email course that will transform your outbound program from broken to consistently driving new sales opportunities. Sign up here: GetOutboundROI.com.
More content from Corey:
Corey’s Website: https://www.coreyquinn.com
Corey’s Daily Tips: https://www.coreyquinn.com/blog
Podcast Website: https://www.coreyquinn.com/podcasts/the-deep-specialization-podcast
Podcast YouTube Channel: https://youtube.com/@coreyquinninc?sub_confirmation=1
This episode is sponsored by E2M, the #1 white-label partner for digital agencies. Visit https://www.e2msolutions.com/the-deep-specialization-podcast to get 20% off your first month.
This episode was produced and brought to you by Reignite Media.
00:00 Intro
01:28 Debunking the Myth of Specialization
03:45 Benefits of Specializing Your Agency
08:13 Identifying a Good Vertical Market
15:45 Three Steps to Choosing Your Vertical
#agencygrowth #agencylife #marketingpodcast #deepspecialization #verticalization #verticalmarket
3:25
Vertical integration explained
All you need to know about vertical integration in 3 minutes. What is vertical integration...
published: 08 Nov 2020
Vertical integration explained
Vertical integration explained
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- published: 08 Nov 2020
- views: 68551
All you need to know about vertical integration in 3 minutes. What is vertical integration? What is meant by backward and forward vertical integration? And when does vertical integration make sense; what are the benefits and risks of vertical integration?
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. An example could be software that manages services in hotels - amenities solutions. It is distinguished from a horizontal market, in which vendors offer a broad range of goods and services to a large group of customers with a wide range of needs, such as businesses as a whole, men, women, households, or, in the broadest horizontal market, everyone.
The activities of participants within any given vertical market are typically similar in that they aim at solving the same or similar problems. These markets are typically competitive, because of the overlapping focuses of the products and services that are provided to the customers.
The single defining characteristic of the participants in a vertical market is competition within a well-defined segment.
Horizontal market participants often attempt to meet enough of the different needs of vertical markets to gain a presence in the vertical market. Their similar products/services tend to be less of a fit but also less expensive than specialized, vertical participant solutions.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Vertical_market
Vertical Marketing: Vertical marketing system...
Steve Blank-Vertical vs. Horizontal Markets...
What is a Vertical Market?...
What Are Vertical Markets...
Vertical market - defined...
Understanding Vertical Market...
Types of Vertical Marketing System(+ Examples )...
There's a ton of opportunity in the vertical softw...
3 Steps to Choosing a Vertical Market...
Vertical integration explained...
Latest News for: vertical market
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Hastings Tribune
27 Dec 2024
Valsoft Corporation Secures $150M to Further Accelerate Growth in Vertical Market Software Sector
Hastings Tribune
27 Dec 2024
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Dubai Welcomes Collective Artists Network: A New Era for India-Middle East Creative Collaboration
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Hydro invests NOK 200 million at Husnes aluminium plant
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By continually harnessing the market attributes and customer preferences in different vertical industries overseas, Fushi has enriched its in-house product portfolio and greatly improved service ...
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With this expansion, Collective Artists Network is set to serve the Middle Eastern market with its full suite of services across various verticals, including talent management, film, music, sports, ...
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Texas Instruments announces award agreement for CHIPS and Science Act funding
Competition and Markets Authority's Read more... Consistent with its strategic objective to build Ontario's first vertically integrated lithium supply chain serving the North American EV battery market, Avalon Advanced Materials Inc.
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Shriram Finance sees Rs 5,000 crore AUM for green finance in 4 years
... on Karnataka, Kerala, National Capital Region (NCR) and Maharashtra.</p>.<p>Till now, the vertical has been raising resources under social loans in the domestic and international market.
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Valsoft Corporation Strengthens Local Government Portfolio with Keystone Information Systems and Cott Systems Acquisitions
Valsoft acquires and develops vertical market software companies that deliver mission-critical solutions.
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Cosmoprof North America Builds on Smashing Success of the First Miami Showcase for the Second ...
For the first time, the CosmoTrends report will be enhanced with additional data covering market opportunities and trend forecasts ... Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow.
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Smart Learning Market by Offering (Hardware, Solutions (Integrated Solutions and Standalone Solutions), and Services), Learning Type (Synchronous Learning and Asynchronous Learning), End User and Region - Global Forecast to 2029.
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Radiant cash management services enters B2C space
The daily doorstep pick up service in the B2C vertical has been capped at Rs 2 lakh per day,' he added.With a market share of more than 40% in retail cash management services in the country, the ...
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