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 other industrialists have expressed hope that the both federal and provincial government would take steps to make the Gadoon Estate more energetic and productive because the past step-mother treatment of the successive governments had created numerous problems for the investors.
The MEC for Limpopo Department of Economic Development, Environment and Tourism Mr Seaparo Sekoati says the implementation of the MoU will enhance participation of local industrialists in the Special Economic Zones programme and also improve participation of the province as a whole in all incentives offered by the dti and the Department of Small Business Development.
Birmingham industrialists George Cadbury and Matthew Boulton.
Weinstein also shows that adopting the discourse of "modernization" was a means by which the industrialists promoted their own position in society.
Barbara Weinstein's excellent new study of Sao Paulo's industrialists contributes to the discussion by breaking from the traditional historiography in two ways.
Development theories in the 1960s and 1970s contended that industrialists in countries on the periphery of the world economy couldn't survive in the postwar era without state financial support and protection from foreign competition and their own workers.
Kaiser in the context of Franklin Delano Roosevelt's New Deal, noting that "Roosevelt saw Henry Kaiser as the essence of the New Deal industrialist, a man capable of working with government on the largest possible scale.
And those industrialists contributed to campaigning for PM Modi later on," he added.
PESHAWAR -- Khyber Pakhtunkhwa Governor, Sardar Mahtab Ahmad Khan has directed political administration of Khyber Agency to develop strong coordination with local industrialists and provide them proper security for revival of closed industrial units in the area.
On a more positive note, the fall of the euro will reduce the cost of raw materials that are mainly imported from Europe, said Jaques Sarraf, a prominent Lebanese industrialist.
Man emerged most- industrialist proximity Narendra entrepreneur fortunes he Modi, the delegation August the September.
On the other hand, tens of Iraqi industrialists marched in the same square demanding "reactivating their factories, customs tariffs, consumers' protection law to protect the industrialist sector.