demand, industry
Definition:
An industry demand schedule presents the relation of the price of the product to the quantity that will be bought from all firms. It has a clear meaning when the products of the various firms are close substitutes, when they differ from that of other industries, and when they have a well-defined price level. The concept of industry demand becomes nebulous when there is a considerable product differentiation within the industry and substitute competition with other industries.
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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].