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 ?
Years ago we diversified into a three-state network for similar reasons, to get a bigger footprint and more types of crops and industry segments to target, spreading our business model over a larger territory to keep it more sustainable."
List keywords, industry name, Standard and North American Industrial Classification (SlC and NAICS) industry codes (available at www.osha.gov/ oshstats/sicser.html and www.naics.com/search.htm, respectively), top public companies in the industry and leading trade publications.
"We're a cross-section of the industry, ranging from the fuel operators, the insurance companies, the small service and supply companies.
Traditional explanations for the consolidation of the defense industry based on decreased defense spending are not consistent with a long-term view of the industry.
* Service level agreements (SLAs) around security and high availability are two components of the IT outsourcing contract that often need to be adjusted to match the industry's sensitivity to uptime and security of information.
The storage industry demonstrates a consistent and heavily skewed economic model where less than ten vendors normally generate more than 75% of the revenue in almost any storage segment.
South Africa's forestry industry developed because the country has little in the way of natural indigenous timber reserves--just 1,158 square miles total.
Bell refers to the phenomenon of the fusion of peasant family production with early Chinese industry as "China's new developmental continuum at the turn of the twentieth century" (pp.2-3).
After the report became public, the forestry industry demanded a meeting with Claude.
The ORV riders, in particular, complicate what used to be a fairly straightforward duel between industry and environmentalists over land management.
The IIR program promises to produce more certainty on technical industry issues and thereby reduce post- filing disputes.

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