Vertical integration refers to a company's strategy of acquiring or merging with other companies in order to gain control over various stages of production and distribution. This can include everything from raw materials, manufacturing, and distribution channels, all the way through to retail sales. The goal is to have as much control as possible over every aspect of a product's life cycle, which can help reduce costs, improve efficiency, and increase profits. Vertical integration can also provide companies with greater flexibility in responding to changes in market conditions or consumer preferences.