BUSSPP 0020 Lecture Notes - Lecture 3: North American Industry Classification System, Sell Side, Customer Switching
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Chapter 3 industry: gut level companies that make some kind of products, substitutability: b. i. Standard industrial classification sic replaced by north. Sec still uses sic so its not completely gone b. ii. Supply-side (seller) - refers to similarity in technology used by producers b. ii. 1. b. ii. 2. Determine what to sell and who else sells it. Determine when you want to sell in now or soon in the future b. ii. 3. Not easy to determine the technology firms have that are not making the product currently b. iii. Demand side (buyers) refers to the possibility of a customer switching between suppliers b. iii. 1. b. iii. 2. Determine whom to buy from and best price. Much easier determine which producers make substitutable products b. iv. Based on the industry as a whole then narrowing it down to what you want to sell b. iv. 2. Evaluate the narrowed down need of the seller: firms can be in one industry or multiple, language: a. i.
