Principles of Marketing (16th Edition)
16th Edition
ISBN: 9780133795028
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
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Chapter 6, Problem 6.14MA
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 ways the marketers uses the NAICS-. The North American Industry Classification System to provide a better value and customer satisfaction.
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