Today's Hours
In examining the marketing environment, include a discussion of the competitive forces. Note that this information needs to come from research in the library databases. Be sure to include full citations of where you obtained this information, i.e., articles, magazines, journals, etc. Do not use information found on websites.
NAICS is an acronym for the North American Industrial Classification System. It's a numeric method of classifying companies by their main line of business for the purpose of monitoring industry performance. It also fosters the development of tools such as industry ratios that allow for the precise comparison of one company against its peers. The NAICS program was launched in 1997 to replace its predecessor, the SIC.
SIC, or Standard Industrical Classification, is also a numeric method of classifying companies. However, this system was created in 1937 and in the 1990s it became increasingly difficult to classify companies involved in emerging technologies like cellular phone or Internet Service providers. Hence, the NAICS was created to supplant it. The NAICS system is more current ad should be used when possible.
Use a combination of company name and/or ticker symbol and keywords related to the Macro/Micro trend to search the library's databases for information about the trend.