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 ?
One would like to believe that in the event of a renewed synchronized slump in the industrialized economies, the newfound dynamism of the emerging market economies would help to avert a global economic recession.
In other industrialized countries, secondary education may at times be better, but who cares, so long as the "education elite" are afforded opportunities.
According to the UNHRC, Canada received 25,500, the third highest among the industrialized countries (However, Citizenship and Immigration Canada claims 33,000).
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President Bush said that the restrictions set by the environmental treaty would place undue burdens on industrialized nations.
It also assumes, for no particular reason, that as today's underdeveloped regions become more industrialized, they will never experience the same fall in fertility that China, South Korea, and other recently industrialized nations have experienced.
Turns out that while our stature has diminished--and American women have smallified even more precipitously than men--the folks in the rest of the industrialized world have been getting taller.
Not just among the seven or eight most industrialized nations, but even among nations that are not industrial giants, the agricultural side has really pursued nitrogen fertilization.
World consumption of paper and board increased by 35 percent, or 84 million tons, in the 1990s, despite the major recession in the industrialized world in 1992-1993 and the financial crisis in Asia in the late 1990s.
After thousands of years of total isolation, these native bastions have managed to avoid the vagaries of the industrialized world.
Americans are more likely than those in other industrialized countries to report communication difficulties with their physicians.