A market assessment tool designed to provide a business with an idea of the complexity of a particular industry. Industry analysis involves reviewing the economic, political and market factors that influence the way the industry develops. Major factors can include the power wielded by suppliers and buyers, the condition of competitors, and the likelihood of new market entrants.
Use 'industry analysis' in a Sentence
When looking for land to build your company you must make sure you do and Industry Analysis, to be sure this is the kind of company you would like to enter into.. make sure this is the type of work you can build a company in.. are sales up.. are sales down... can you make profit, can you hire employees. You also will need to see how many other companies out there are like yours... this all goes into you industy ananlysis.
The industry analysis concluded in determining that the region was a good choice for locations to build our new factory.
Before purchasing the pig farm from Ezekiel, Biohazies R Us conducted an in depth industry analysis on profit margins for developing anthrax.
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Notable Quotable
Inaccurate Classifications for Competition in Sectors
"In 1960, a professor at the Harvard Business School named Ted Levitt published an article in the Harvard Business Review entitled "Marketing Myopia." In the article, Levitt suggested that the most important question for any marketer is, "What business are you really in?" Levitt had examined a long list of successful, profitable sectors, such as the railroad industry in the early 1900s and the motion picture industry in the late 1940s, that had been blindsided by new competitors and run into severe financial problems as a result. His conclusion: Many of these industries simply misdefined the business they were in. The railroads thought of themselves as being in the railroad industry instead of transportation, and motion picture studios saw themselves in the movie business instead of entertainment."