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 ?
He said that UBF enjoys support of industrialists and traders in all the four provinces besides Fata and added that a new business leadership would emerge come the next FPCCI elections.
Still Working Because he remains India's most respected industrialist, passionately involved in new businesses despite stepping down as chairman of the ` 6 lakh crore salt- to- software Tata Group in December 2012.
He was addressing the representatives of investors, industrialists and business community of the province during his visit to Khyber Pakhtunkhwa Chamber of Commerce and Industries (KPCCI) here on Friday.
This victory is for all industrialists, without exception," he added, stressing that the real challenge lies in working for the interest of all industrialists and the development of national industry, as a whole.
In his death, the nation has lost a leading industrialist and a distinguished personality and I have lost a personal friend," he added.
Meanwhile, rival arms industrialist Justin Hammer (Rockwell) concocts a plan to destroy Stark Industries, which is under the control of new chief executive Virginia 'Pepper' Potts (Paltrow).
I can only expect the competition for industrialist to be just as strong.
In 1931, one of the races in the National Air Races was renamed The Bendix Air Race when industrialist Vincent Bendix of The Bendix Corporation began sponsoring the event.
Summary: Leading industrialists warned Monday that the government's failure to take action to support Lebanese manufacturers would further erode the competitiveness of industrial exports, which declined in value for the second consecutive year, according to figures released Monday by the Industry Ministry.
Another industrialist said the decision was " a 2G redux" as far as sending a signal to global investors is concerned.
Close aide of India's anti graft crusader Arvind Kejriwal, Mayank Gandhi, led a protest outside the Ambanis residence in Mumbai and shouted slogans against the industrialists.
Another industrialist, Ameena Sherwani said they mulled over the plan of building their own captive power plant when the recent grid collapse forced the industries to go without power for 72 hours.