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Marketing Principles & Practices: Industry Information

Information Resources for MKT 11

North American Industry Classification System

The North American Industry Classification System (NAICS) is a collaboration between the governments of Canada, Mexico, and the United States stemming mostly from the North American Free Trade Agreement (NAFTA). Its purpose is to categorize narrowly defined economic activities, or industries, in a consistent manner among the three trading partners, although the system does leave room for fine level customization within each country. NAICS is a replacement for the United States' Standard Industrial Classification (SIC) system, which is gradually being phased out in most new federal statistical studies and publications. For examples of NAICS hierarchy refer to:

The following website can be used to identify appropriate NAICS codes:

Standard Industrial Classification (SIC)

The Standard Industrial Classification (SIC) system is a hierarchical coding structure developed by the U.S. government and  used to classify all forms of economic activity in order to provide a common statistical and conceptual framework for data collection and analysis. Although it is gradually being replaced by a new classification tool called the North American Industry Classification System (NAICS), the SIC system is still widely used in both current and historical contexts.

The following website can be used to identify appropriate SIC codes:

Industry Profile/Market Description

Business Environment

Statistical Sources