Industry

A group of companies that offer very similar products or services.

At the beginning, it is worth to explain that the concept of industry is much broader than the concept of market, which, however, are very often mistaken or used interchangeably.

The term "industry" is the basic breakdown of the entire economy into smaller components. There may be many such divisions and may concern various branches of production or trade, within which specific goods or services are offered. An example of such a division is, for example, distinguishing the clothing, food, chemical, etc. industries.

We can also make a more general distinction between manufacturing and trading. As part of the first one, we are talking about products made of goods from specific production branches, e.g. the meat industry. The trade industry, on the other hand, is all goods that, by complementing each other, satisfy all sorts of consumer needs.

Each individual industry consists of specific companies and enterprises, and in turn is created by people and various resources, including tangible and intangible.