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 aim of the delegation was to examine the existing business environment for future investment in industrial development in Pakistan.
The organization, headquartered in Vienna, includes the General Conference, the Industrial Development Board and the Program and Budget Committee.
He stressed industrial development in countries happened due to zero rated tax regime, where machinery was exempt from all kind of taxes and duties.
He further said the recently introduced industrial investment policy is the reflection and the roadmap for the historic approach that the administration has taken up not only for industrial development but also for overall standard of living, creation of jobs and exploring new avenues with substantial policy framework.
"Gulf Industry Fair 2018 will focus on promoting economic diversification through the elements of industrial development under a wider theme of eco-industrial development," remarked Jubran Abdulrahman, the managing director of HCE.
Highlighting the objectives of small enterprises and industrial development process in the region, the chief minister directed that the ultimate goal was to train the youth for CPEC related commercial and industrial activities to meet the growing needs in the area.
The United Nations industrial development organization (UNIDO), as a specialized agency of the un that promotes industrial development for poverty reduction, inclusive globalization and environmental sustainability, the mandate of the organization, is to promote and accelerate inclusive and sustainable industrial development (ISID) to achieve shared prosperity and environmental sustainability around the world is determined to take its part in facilitating with the successful implementation of the SDGs in the globe.
The company plans to construct a factory on a permanent site within Tianjin Binhai Hi-Tech Industrial Development Area.
These studies collected in a standard document that was discussed through an expanded committee involving 14 ministries and interested parties in order to draw a long-term future industrial strategy to the Sultanates industrial development march.
Italy's Diatek, considered a leading company in the industry of digital printing, opened its plant Makdia in Skopje's technological and industrial development zone Bunardzik.
Khartoum, Feb.17 (SUNA) - Sudan has participated with delegation that included representatives of the Ministries of Trade and Industry and the Central Bank of Sudan at the Third Meeting of the Tripartite Technical Committee on Industrial Development of Regional groupings of (EAC), (COMESA) and (SADC) in Nairobi toward achieving economic integration between the member states.
The Investment Promotion Unit Unido-Smeda Italia Programme held a weeklong training workshop on Innovation and Technology Transfer for Inclusive and Sustainable Industrial Development."

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