Final answer:
In the third-party exchange marketplace model, a 'vertical' market focuses on a specific industry or market, providing specialized services and products for that particular sector.
Step-by-step explanation:
In the context of the third-party exchange marketplace model, a market that concentrates on a specific industry or market is known as a vertical market. Unlike a horizontal market which serves a wide range of industries, a vertical market is tailored to meet the needs of a particular industry or sector. For example, a vertical market in the healthcare industry might include businesses that specialize in healthcare software, equipment, and services exclusively for medical facilities. This specialization allows for a deeper understanding and servicing of the specific needs of that market.