0

What is the meaning of "industry" at first place?

Is it about "working","producing" or what?

Here is the text where I encountered the phrase:

First-mover advantage isn’t automatically bestowed unto the first product in a category. It’s not even guaranteed to exist in your industry

Here is another text includes the phrase:

If you accept that your industry doesn’t exist anymore and your consumer is actually in charge, you will be able to build a relevant and meaningful brand.

Thanks in advance.

Improve this question

1 Answer 1

Reset to default
2

These are two completely separate questions. The first sample says that the "first-mover advantage" might not exist in a particular industry. (Why it might not exist, I do not know. Maybe because later movers won't have to invest as much—they simply copy the technology developed by the first mover?)

The second sample isn't saying literally that "your" industry doesn't exist anymore; I think it means that sometimes consumer taste can change so rapidly that the best approach is to act as if you are starting a new industry, and to listen to the customers as your guide for developing that new industry.

But in both cases, "industry" means the same: the set of companies that produce a particular kind of thing; the competitors for sales of that thing.

http://i.word.com/idictionary/industry sense 2(c)

Improve this answer

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .