A Brazilian manufacturer of solar cells used as a renewable source of energy in all types of structures would like to begin distribution and sales in the United States, Canada, and Mexico. The manufacturer has hired you to investigate NAICS data for such products in North America. What is the NAICS system? What other helpful kinds of information can be found in this source?
What will be an ideal response?
The North American Industry Classification System (NAICS) is a set of numerical codes assigned by the U.S., Mexican, and Canadian governments to classify business and government organizations according to primary economic activity. The system assigns numbers to economic divisions, industry groups, and product classifications. This system replaced the previously used standard industry code (SIC) system when the North American Free Trade Agreement was signed. Businesses and individuals could use (NAICS) data for market analysis, segmentation, and targeting.
The NAICS system will provide the requested sales volume information at an industry level as well as information on the number of firms, number of employees, and geographic breakdowns of the industry.
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