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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 post Belarus proposes roadmap to cooperate with military production ministry in industrialisation appeared first on Daily News Egypt .
Latest publications: "Winners and losers in the allocation of credit during the era of import-substitution industrialisation in Colombia, 1940-1967".
'In fact, our youth should be the key drivers of our industrialisation and integration agendas,' he said.
However, once import substitution industries are allowed LTFF given by the SBP, it would increase the pace of industrialisation and investors will take keen interest in setting up industries for raw material production.
Engineer Amr Nassar, Minister of Trade and Industry, said: "Egypt has identified industrialisation as a priority sector as part of our Vision 2030 economic development strategy."
The PIEDMC generated more than 840,000 direct and 1,680,000 indirect employment opportunities through industrialisation, he added.
'The Bank launched in 2016 its Industrialisation Strategy for Africa 2016-2025, which was the outcome of collaborative work with UNIDO and the United Nations Economic Commission for Africa.
Colombo [Sri Lanka], May 7 ( ANI ): Sri Lanka is aiming towards rapid industrialisation throughout the country under the aegis of Prime Minister Ranil Wickremesinghe.
India's most populous state Uttar Pradesh, which is on a fast industrialisation mode, is seeking foreign investment to boost its power infrastructure.
The PML-N has believed in and consistently strived for industrialisation of Pakistan.
The move aligns global delivery locations with skill sets in industrialisation model.
The AU official said the conference was an important platform redefine Africa's own path towards industrialisation and trade.