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 ?
In order to accommodate Hillarys' tight deadlines, Industrious invested a further PS250,000 in refurbishing the vacant building.
We believe that this ethos matches the Industrious model in providing excellent service to our customers.
De Vries argues that the industrious revolution had its roots in the Reformation and the elimination of saints' days by reform-minded churches in England and Holland, and the counter reform-minded churches in France, which ultimately yielded a 20 per cent increase in yearly working hours.
The trio Industrious Noise prefers feet, places for songs to end after some serious, thoughtful meandering.
Above all, Austin Lunch is a tribute to an industrious mother and father, and the strength of a close-knit family.
These industrious women, in their key decision-making years, are living longer and more healthily than ever before; and they have more money and are more educated than ever before.
The men who work as navvies on the Canadian Northern are steady, sober and industrious.
The invitations to Saturday's City Section baseball championship at Dodger Stadium hadn't been mailed out, but any industrious party planner would've felt pretty comfortable addressing them in advance.
Outstanding Bourton keeper Ben Salisbury thwarted Griff before the interval in the all-Alliance One tie and the second half saw Mark Whitehead have two chances cleared off the line and the industrious Ian Green head over.
Quirky and industrious, it was suffused with all the "howdjadothat?
It was fitting reward for an industrious performance by mid-table Notts County.

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