Principles of Marketing, Student Value Edition (17th Edition)
17th Edition
ISBN: 9780134461526
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
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Chapter 6, Problem 6.13AC
Summary Introduction
Case summary:
NAICS-The North American Industry Classification System code is a very valuable one for the marketers. It replaces the SIC-old product-based Standard Industrial Classification system which was introduced in the year 1930s. The system NAICS categories the business by the process of production, well reflecting changes in the economy, mainly in the area of technology and service industry.
It was formed jointly by the Country U, Country C, and Country M in the year 1997 in concert with the NAFTA-North American Free Trade Agreement by offering a common classification system for these countries and well compatibility with the ISIC-International Standard Industrial Classification system. The 6 digit number is a vital to understand the business markets. The 6 digits can also be seven or ten in some cases.
Characters in the case:
- Country U
- Country C
- Country M
- System NAICS
- System SIC
To discuss: The representation of 6 six digits of NAICS code and the industry which is denoted by the code of NAICS 721110 and the number of businesses consist of this code.
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