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 ?
8 Nondurable goods industries -11,485 11,342 75,357
Agents and managers from LMSB's various Industries tended to be located together in cities where corresponding taxpayers had a strong presence; decisions on where to situate agents were heavily influenced by taxpayers' geographic distributions.
Mullen: Research Director, National Investment Center for the Seniors Housing & Care Industries, Annapolis, Md.
For example, outsourcing mobile devices is more important to the healthcare and auto industries than it is to the professional services or financial services industries.
That division, funded by the World Bank, evaluated the state of natural resources exploited by Chilean industries. It produced five preliminary reports on three key industries: forestry, mining and fishing.
Yet confronting recreational challenges to the environment is in some ways much tougher than confronting those posed by the timber, mining, and grazing industries.
It's happening out there in the real world, and this will now be mirrored in the way the government structures itself to support growth and job creation in these industries. Convergence, whether you like it or not, is key to Ontario's future competitiveness.
Unnaturally large holding companies began to develop, channeling their monopoly profits (as high as 2,000 and 3,000 percent in exceptional cases) into other industries and spreading into other states (thus partially shielding themselves from state takeovers).
Industries include consumer products, entertainment and financial services.
He cites offsetting new jobs in industries that are moving to the state.
Thus, utilization rates of 100 percent have been reached or even temporarily exceeded in specific industries, particularly in materials industries.
5 Nondurable goods industries -7,258 -6,677 -12,292

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