industry

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Industry

The category describing a company's primary business activity. This category is usually determined by the largest portion of revenue.

Industry.

An industry is a subdivision of a market sector and includes companies producing the same or similar goods and services. These companies often compete with each other for customers and investors.

For example, within the consumer staples sector, companies that manufacture household appliances, such as dishwashers and refrigerators, are part of the same industry.

The fundamentals of any single company in an industry can be measured against the industry as a whole, revealing where the company stands in relation to its peers.

industry

a branch of commercial enterprise concerned with the output of related goods or services. For example, the beer/brewing industry might be defined as all those firms that produce bitter and mild ales, lagers, stouts and elders. However, beer production might be seen also as constituting part of a wider and bigger industry, the ‘alcoholic beverages industry'which includes the production of spirits and wines as well as beer. Thus, there are specification problems with respect to how widely or narrowly a particular industry is defined. Moreover, STANDARD INDUSTRIAL CLASSIFICATIONS typically group together products on the basis of their supply characteristics, such as the use of common raw materials and manufacturing processes. This may or may not coincide with how goods and services are grouped together to define MARKETS, which requires account to be taken also of how products are seen from the point of view of buyers (that is, their demand characteristics). Thus although men's and women's' shoes are produced using the same materials and manufacturing processes, and often by the same firms, they are not considered by buyers as close substitutes, and hence, from a MARKETING point of view, they must be treated as constituting separate markets. See STRUCTURE OF INDUSTRY.

industry

a group of related economic activities classified according to the type of good or service supplied. For example, the beer/brewing industry might be defined as all those firms that produce bitter and mild ales, lagers, stouts and ciders. However, beer production might be seen also as constituting part of a wider and bigger industry, the ‘alcoholic beverages industry’, which includes the production of spirits and wines as well as beer. Thus, there are specification problems with respect to how widely or narrowly a particular industry is defined. Moreover, INDUSTRIAL CLASSIFICATIONS typically group together products on the basis of their supply characteristics such as the use of common raw materials and manufacturing processes. This may or may not coincide with how goods and services are grouped together to define MARKETS, which requires account to be taken also of how products are seen from the point of view of buyers (that is, their demand characteristics). Thus, although men's and women's shoes are produced using the same materials and manufacturing processes, and often by the same firms, they are not considered by buyers as close substitutes, and hence, from a buyer's point of view, they must be treated as constituting separate markets.

Looked at dynamically, a typical industry will grow, reach maturity (see Fig. 158 (b) -PRODUCT LIFE CYCLE entry) and, in many cases, then decline (for example, the textile, coal and shipbuilding industries in the UK). See STRUCTURE OF INDUSTRY, CROSS-ELASTICITY OF DEMAND, MARKET STRUCTURE.

References in periodicals archive ?
Industri Verktoy's customers consist of professionals in infrastructure and construction.
Our goal is to develop Alfa Laval into one of the leading global process technology companies, with a view to listing the company within five years," said Industri Kapital deputy chief executive Harald Mix.
Elsewhere Allis relies heavily on another Svedala Industri company, Minco International.
Peab Industri will be reported as a new business area (Industry)
GPV Industri adjusted down its full-year pre-tax expectation from a previously announced loss of DKK75-80m to a loss of DKK100-110m, and the full-year turnover expectation from previously announced DKK1,150-1,200m to DKK1,100-1,150m.
PT Ethica Industri Farmas, which runs a manufacturing facility in Jakarta, has a large portfolio as well as a deep expertise in the production of generic drugs, Fresenius said, adding that the product offering of the future JV generated over EU40m (USD53.
Peab Industri, headquartered in Angelholm, Sweden, is a leading producer of products and services aimed at the Nordic construction and civil engineering market.
GIA Industri employs 113 people and generates annual revenues of some SEK230m (USD34.
NORDIC BUSINESS REPORT-13 November 2008-GPV Industri A/S reorganises Mechanics and PCB divisions, sheds 130 jobs(C)1994-2008 M2 COMMUNICATIONS LTD http://www.
The European Commission on November 30 cleared the acquisition of the Finnish company Neste Chemicals by Industri Kapital 1997 Ltd - an investment management company belonging to the Industri Kaptial Group, ultimately owned by Industri Kapital N.
se), Dagens Industri and Expressen, which are some of the most visited sites in Sweden.
NORDIC BUSINESS REPORT-7 November 2008-XANO Industri AB acquires Mikroverktyg AB(C)1994-2008 M2 COMMUNICATIONS LTD http://www.

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