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The Standard Industrial Classification (SIC) is a system for classifying industries by a four-digit code as a method of standardizing industry classification for statistical purposes across agencies. Established in the United States in 1937, it is used by government agencies to classify industry areas.
It has largely replaced the older Standard Industrial Classification (SIC) system, except in some government agencies, such as the U.S. Securities and Exchange Commission (SEC). An establishment is typically a single physical location, though administratively distinct operations at a single location may be treated as separate establishments.
SIC refers to the older Standard Industrial Classification system that was established in 1937. Either NAICS or SIC can be used to identify firms by industry. While most businesses use the newer NAICSS, many still work with the older SIC and both systems can be used with most modern business research reports and tools.
SIC code (standard industry classification), which originated in the US, can be a good indicator for application-based segmentation. However it is based only on relatively standard and basic industries, and product or service classifications such as sheet metal production, springs manufacturing, construction machinery, legal services, cinema's etc.
The Refinitiv Business Classification (TRBC) is an industry classification of global companies. It was developed by the Reuters Group under the name Reuters Business Sector Scheme (RBSS), [1] [2] [3] was rebranded to Thomson Reuters Business Classification (TRBC) when the Thomson Corporation acquired the Reuters Group in 2008, forming Thomson Reuters, and was rebranded again, to The Refinitiv ...
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.
The AMA reviews this definition and its definition for "marketing research" every three years. [14] The interests of "society at large" were added into the definition in 2008. [ 15 ] The development of the definition may be seen by comparing the 2008 definition with the AMA's 1935 version: "Marketing is the performance of business activities ...
Business marketing is a marketing practice of individuals or organizations (including commercial businesses, governments, and institutions). It allows them to sell products or services to other companies or organizations, who either resell them, use them in their products or services, or use them to support their work.