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 ?
CONTENDERS...Birmingham industrialists George Cadbury and Matthew Boulton.' LAUNCHED.
Weinstein also shows that adopting the discourse of "modernization" was a means by which the industrialists promoted their own position in society.
She describes how industrialists connected with intellectuals in the 1930s to create a wideranging elite language of rationalization, focusing on how the state might play the pivotal (and perhaps even-handed) role in capital/labor relations.
He alleged that the excise and taxation department was harassing the industrialists by sending notices to industries, which were exempt from property tax for the last three decades.
The 'Veer- Zaara' actor and the industrialist are co-owners of the Kings XI Punjab IPL team.
Most Syrian industrialists have either closed their businesses or moved to other countries such as Jordan and the United Arab Emirates.
Summary: New Delhi [India], July 30 (ANI): Prime Minister Narendra Modi's assurance of working closely with industrialists will rejuvenate the private sector, the Federation of Indian Chambers of Commerce and Industry (FICCI) said on Monday.
The Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe together with the Premier of the Free State Province, Ms Sisi Ntombela will bestow Kevali Chemicals (PTY) Ltd the honour of being Free States first Black Industrialists Programme (BIP) beneficiary at a ceremony that will take place at the Maluti-A-Phofung Special Economic Zone (SEZ) in Harrismith, on Wednesday, 6 June 2018.
GOTI has also granted a great opportunity to its customers of the industrialist to obtain their needs of textile over a period of two months or more after submitting their applications.
al-Omar added that GOTI has also granted a great opportunity to its customers of the industrialist to obtain their needs of textile over a period of two months or more after submitting their applications.
Ghafoor Khan Jadoon, an industrialist and former provincial minister, said despite repeated appeals to the government no steps were taken to in that regard.
New Delhi: The Supreme Court Friday issued notice to the Enforcement Directorate (ED) on industrialist Vijay Mallya's plea challenging the ongoing proceedings in a Mumbai court to declare him fugitive economic offender.