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MKTG 489: Marketing Management and Strategy: Situation Analysis: Industry

Suggested resources for MKTG 489

Industry Classification Codes

Many industry resources use the NAICS and SIC codes to organize their information. Most companies have primary and secondary classifications--pay attention to all of them. Sometimes a company's secondary industry classification will be more important to your project than their primary classification. 

North American Industry Classification (NAICS)
Created by the Census Bureau in 1997, NAICS replaced the SIC. Each industry is assigned a unique number is a code used to identify and describe North American (US, Canada, and Mexico) industures. It is hierarchical and classifies each industry by broad group and then subdivides each into smaller, more specific classifications.

Standard Industrial Classification (SIC)
SIC system used to describe the structure of American industries. A hierarchical system, industries are organized into broad industry groups and then subdivided into smaller groups. Each industry carries a unique four-digit classification code ranging from 0100 to 9999. The SIC was replaced in 1997 with the North American Industrial Classification System but many sources still use the SIC.

Situation Analysis

These sources will help you complete the following part of your assignment:

  • Customer environment (current and potential customers, value propositions, etc)
  • Competitive environment, industry characteristics, and other environmental factors

Industry Research: Where to Start

Industry research, like company research, includes looking at different aspects of an industry: major companies, market trends, market share, ratios, finances. We have several resources that will help you get an overview, but you will need to use multiple sources to get a full view of an industry. Find information on industry classification codes below.

Many of the resources used for company research are used for industry research. Industry and company research go hand in hand--you can rarely do one without the other.

How to Locate U.S. Industry Reports

Locating industry reports in Business Source Complete and IBISWorld. 

Short videos (3 mins.) will open in a separate window.

Business Source Complete IBISWorld
Business source complete IBISWorld