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 ?
Allegheny County -- $1,571,400 to the Regional Industrial Development Corporation of Southwestern Pennsylvania for the construction of a 48,000-square-foot building in the Thornhill Industrial Park in Marshall Township.
65,525,000 The Industrial Development Authority of the City of Mesa, AZ, refunding revenue bonds (Lutheran Health Systems), series 1998A-1 (insured: MBIA Insurance Corp.
The loan for construction will be made to the York County Industrial Development Corporation which will own and lease the facility to Starbucks Coffee.
Northampton County Industrial Development Authority (PA) IDRB series 1985;
4,600,000 ($5,080,000 original issuance amount), The Industrial Development Authority of the City of Mesa, Arizona, Health Care Facilities Revenue Bonds (Western Health Network - Mesa Lutheran Project), Series 1988A-3.
The recent decisions by Grasso and the Industrial Development Agency are the latest pitfalls in a project that has been plagued by obstacles since it was announced in December 1998.
Sponsoring Agency: Armstrong County Industrial Development Council.
The company's successful results with industrial development of the Meadowlands prompted industry watchers to dub the region "Klatskin Country".
Casey today announced the approval of more than $24 million in Pennsylvania Industrial Development Authority (PIDA) loans, its largest monthly loan volume since June 1976.
80,000,000 Industrial Development Authority of the County of Chesterfield (VA), revenue bonds (St.
Mayor John Spencer led city officials, the Yonkers Industrial Development Agency, the Yonkers Board of Education, the Yonkers Public Library and the citizens of Yonkers in a groundbreaking ceremony for the construction of a 200,000 SF new Board of Education Headquarters and Main Office of Yonkers City Library.
5 million in Pennsylvania Industrial Development Authority (PIDA) loans for eight business expansion projects that are expected to create 186 jobs.

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