Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. A vertical market is a market encompassing a group of companies and customers that are all interconnected around a specific niche.
As such, vertical markets typically have their own set of business standards. They may also have high barriers to entry for new companies. The global business market provides a multitude of opportunities for all types of businesses. Vertical market providers are focused on specific goods and services that meet the needs of a niche customer group.
These markets are the opposite of horizontal markets that sell their products and services across multiple industries with a broader association among a variety of businesses and business segments.
A company operating or seeking to work in a vertical market will generally need to take somewhat of a different strategic approach than a horizontal market company. Vertical market businesses may be industry-specific or demographic-specific. Regardless, they seek to target a narrow market that has its own idiosyncrasies.
In some cases, business managers in a vertical market may find certain advantages over operating in a broader, horizontal market. Operators in a vertical market can target a particular segment where they have a comparative advantage. Some of the most considerable advantages for vertical market businesses come in the savings from marketing expenses.
And some of these like better customer service, efficient supply chain, or better financial management are factors across multiple industries.
Sometimes experience across verticals in different roles becomes preparatory ground for the future CIO. Madhavi Kanumoory, CIO, HCG Hospitals honed her business understanding in different GE companies spanning appliances and energy taking on roles across business functions to get comprehensive insights into a business. Many CIOs are ambivalent about vertical specialization emphasizing intrinsic capabilities to impact business outcomes. However, a few CIOs who acknowledge the need for vertical specialization cite strong grounds in its favor.
Challenges at the ground level can be very different from what the books describe. For example, how does one create meaningful impact without insights into the supply chain, production, distribution, customer requirements and brand equity?
Can the CIO actively intervene to stop the ripple effect a defective batch of products can create in the market without vertical business understanding? Vertical knowledge certainly becomes an edge when dealing with industry specific norms such as the precise temperature required to store specific chemical components and how that must be regulated on the factory floor; or knowing the nuances of the assembly line in the automobile industry to ensure it runs smoothly while drawing on the knowledge to effect changes in other business functions.
For example, an automobile company that uses hi-tech is more likely to adopt technology innovatively to fulfill mechanical tasks, such as searching and disseminating information; or automate processes that may impact end users such as loan eligibility. Just as a highly mechanized group like Aditya Birla Group is using a lot of analytics and IoT to get granular insights into the cost of transportation and make optimum utilization of cylinders to store chemicals.
If digital transformation is an approach calling for a cultural change across the organization, then every employee must be a participant and think as an innovator. When innovation becomes embedded into the fabric of the organization, it becomes a continuous cycle—small incremental steps which collectively transforms the business.
CIO, Rahul Kumar is a strong advocate of this approach and backs it up with a string of examples—from automating invoice processing to intelligently identifying defects in finished products—there is a groundswell of innovation pulsating through the organization which in turn has had a profound impact in streamlining business processes for competitive advantage.
Ashok Jade, CIO of Spark Minda, who has spent a long time in the manufacturing industry, says concepts such as manufacturing 4. It is important to have insights into how automation, just-in-time manufacturing and stage of defect discovery have a bearing on the manufacturing processes, its efficiency and productivity.
Early intervention curbed the production of more defective pieces and directly impacted the cost of replacement. But people like Jade are clearly in a minority. Especially in an industry from where he comes from. With democratization of technology and increasing decentralization where business users are experimenting with technology, the central office of the CIO will get diminished and have limited focus on areas, such as enterprise security, governance and standardization.
Some industry veterans even believe the future CIO in the current avatar is dead. This helps in streamlining the media planning process, tracking consumer behaviors and generating new revenues streams. Retail: Today, the retail industry is going through enormous competition from the new digital channels, like e-commerce , m-commerce and social media. And customers always look for fast and reliable service.
With these new verticals, huge challenges are imposed on retail industry in terms of supply chain. We at TOPS, strive to provide end-to-end solutions which provided customer satisfaction and efficiency in supply chain. Our solutions have enabled in achieving deep insights which enabled more productivity. Logistics and shipping industry: Emerging trends and latest technologies in e-commerce industry has given great surge to the shipping, transport and logistics industry.
This has created a phenomenal growth potentials and lucrative business opportunity with the challenges like route optimization, security, and inflation in fuel, transit times and many more. We at TOPS, have years of experience in planning, execution and controlling of the movements of goods, information and people across supply chain. Due to increase in competition, the survival all and sole depends on the customized service to the travels.
Because of the challenges like increased tax rate, inflation, risk and investment and many more, it becomes difficult to meet ever increasing expectations. Forgot your password?
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