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 ?
The 44th Industrial Development Board will also take place the same week.
The issues on the agenda of the forum include impact of the global financial crisis on the Arab industrial and mining sectors, the attractiveness of the Arab region for industrial investment, Arab and international partnerships in industry, boosting Arab industrial competition, investment in construction and real estate in the Arab world in light of the global economic downturn, the role of industry in creating job opportunities, scientific research, industrial development and technology transfers and the role of the private sector in industrial development.
But Roberto Barragan, a member of Hahn's Industrial Development Policy Initiative Task Force, has talked about establishing such an entity even though it already exists.
By the end of 2013, 6,000 jobs will be created in the technological and industrial development zones," Minister Stavreski said.
Zoned for industrial development, potential buyers can take advantage of the site's ideal location and excellent market dynamics.
On Thursday, after three months of paperwork and preparation, the company closed a deal for about $4 million in variable interest-rate industrial development bonds.
We are pleased to announce that Douglas Burr assumed the role of Chief Financial Officer and Executive Vice President for Ridge, bringing a wealth of experience that will help drive the company forward as we continue to create exceptional industrial developments in the United States and Mexico," said Jim Martell, Chairman and CEO of Ridge Property Trust.
41 per square foot as a result of a-payment-in-lieu-of-taxes (PILOT) agreement that Metropolitan negotiated last year with the Town of Hempstead Industrial Development Agency.
Officials have high hopes for industrial development, including a plan to market 120 acres north of the Antelope Valley Country Club and a speculative, city-assisted effort to build 82,400 square feet of industrial space.
The guidance and support provided by the Malaysian Industrial Development Authority (MIDA) has been consistently positive and helpful in developing our business activities.
In fact, Clayton Park Apartments was Westchester's first residential project to win tax breaks from the county's Industrial Development Agency, capitalizing on the state legal opinion that "multi-family projects are deemed commercial and thus entitled to economic benefits.
93, plus a new fee scale that charges 31 cents per square foot of commercial or industrial development.

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