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Market Research: Industry Definitions/Descriptions

Defining Your Industry

You might see these industry terms:

  • Sector - includes many industries - e.g. Agriculture, Technology
  • Industry group - group of industries -  e.g. Restaurants
  • Industry - e.g. Type of restaurants such as fast food restaurants

Consider language:

  • If your product or service is too specific, broaden to use a word(s) that include similar products.
  • There may be other terms that are more popular - be sure to include other terms in your industry research.

Places to look for language:

  • Articles about the industry (in online collections such as Canadian Newsstream: Major Dailies and ABI/Inform, or market research reports from such collections as Passport (GMID) and IBISWorld).
  • NAICS Canada is an industry classification tree - all industry numbers group industries and name similar industrial activities. See the NAICS Classification Manual