Strategic grouping, competition, and consumer behavior Essay

Strategic grouping, competition, and consumer behavior - Essay Example The paper will analyze five sectors that are denoted as follows (with their corresponding NAICS codes): 44812 (women’s clothing), 448310 (jewelry stores), 45391 (pet stores and supplies), 722330 (mobile food services), and 72111 (hotels and motels). Furthermore, the discussion between these five industries will analyze class, category, forms, and brands that exist within each; helping the reader to gain a further level of interpretive understanding that relates to the way in which these entities compete and exist within the current environment. Through an analysis of these metrics, the author will be able to provide the reader with a more in-depth analysis of the way in which the following markets work and the levels of consumer choice, substitutability, and competition that exists within each one of these.   Though it might be understood that competition is guaranteed, the reality of the fact is that differing levels of competition create unique opportunities and help to de fine markets that would otherwise be incorrectly categorized.   The first industry that will be analyzed is that of the NAICs code of 44812, or women’s clothing – listed under the retail trade 44- NAICs category.   Naturally, the class and category of this particular industry are that of consumer goods relating to fashion.   Yet, extreme diversification exists with respect to the forms and brands of actual industries that compete within this sector.   For instance, Forever21 competes alongside the likes of Versace and Prada.