The 2011 Economic and Product Market Databook for Monteria, Colombia
ICON Group International, January 2011, Pages: 603
This study covers the outlook for products and services in Monteria. Estimates reported are given for the latent demand, or potential industry earnings (P.I.E.), for Monteria across hundreds of categories (in millions of U.S. dollars) and of the region and of the globe. These comparative benchmarks allow the reader to quickly gauge a Monteria vis-à-vis the world. Using econometric models which project fundamental economic dynamics, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.
This study does not report actual sales data, but give, however, my estimates for the latent demand, or the P.I.E. for a variety of categories. In order to make these estimates, a multi-stage methodology was employed that is often taught in courses on international strategic planning at graduate schools of business.
What is Latent Demand and the P.I.E.?
The concept of latent demand is rather subtle. The term latent typically refers to something that is dormant, not observable, or not yet realized. Demand is the notion of an economic quantity that a target population or market requires under different assumptions of price, quality, and distribution, among other factors. Latent demand, therefore, is commonly defined by economists as the industry earnings of a market when that market becomes accessible and attractive to serve by competing firms. It is a measure, therefore, of potential industry earnings (P.I.E.) or total revenues (not profit) if a market is served in an efficient manner. It is typically expressed as the total revenues potentially extracted by firms. The “market” is defined at a given level in the value chain. There can be latent demand at the retail level, at the wholesale level, the manufacturing level, and the raw materials level (the P.I.E. of higher levels of the value chain being always smaller than the P.I.E. of levels at lower levels of the same value chain, assuming all levels maintain minimum profitability).
The latent demand is not actual or historic sales. Nor is latent demand future sales. In fact, latent demand can be lower either lower or higher than actual sales if a market is inefficient (i.e., not representative of relatively competitive levels). Inefficiencies arise from a number of factors, including the lack of international openness, cultural barriers to consumption, regulations, and cartel-like behavior on the part of firms. In general, however, latent demand is typically larger than actual sales in a country market. It should be noted that the estimates are “culture blind” and “climate blind”, meaning that sales may in fact be lower than the latent demand due to cultural or exogenous factors, such as religion or climate (e.g. the presence of certain religions can effect the actual sales of certain food and beverage products, in the same way that climatic conditions can affect the actual sales of clothing and/or heating products). The estimates of latent demand do not explicitly control for either these long-run exogenous factors or shot-run exogenous factors that may be present from year to year (e.g. the effects of war, SARS, terrorist activities, civil wars, natural disasters, elections, or similar events).
Another reason why sales do not equate to latent demand is exchange rates. In this report, all figures assume the long-run efficiency of currency markets. Figures, therefore, equate values based on purchasing power parities across countries. Short-run distortions in the value of the dollar, therefore, do not figure into the estimates. Purchasing power parity estimates of country income were collected from official sources, and extrapolated using standard econometric models. The report uses the dollar as the currency of comparison, but not as a measure of transaction volume. The units used in this report are: uuuu.
For reasons discussed later, this report does not consider the notion of “unit quantities”, only total latent revenues (i.e., a calculation of price times quantity is never made, though one is implied). The units used in this report are U.S. dollars not adjusted for inflation (i.e., the figures incorporate inflationary trends) and not adjusted for future dynamics in exchange rates (i.e., the figures reflect average exchange rates over recent history). If inflation rates or exchange rates vary in a substantial way compared to recent experience, actually sales can also exceed latent demand (when expressed in U.S. dollars, not adjusted for inflation). On the other hand, latent demand can be typically higher than actual sales as there are often distribution inefficiencies that reduce actual sales below the level of latent demand.
As mentioned in the introduction, this study is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved. If fact, all the current products or services on the market can cease to exist in their present form (i.e., at a brand-, R&D specification, or corporate-image level) and all the players can be replaced by other firms (i.e., via exits, entries, mergers, bankruptcies, etc.), and there will still be a latent demand at the aggregate level. Product and service offering details, and the actual identity of the players involved, while important for certain issues, are relatively unimportant for estimates of latent demand.
The Methodology
In order to estimate the latent demand for products and services in Monteria, I used a multi-stage approach. Before applying the approach, one needs a basic theory from which such estimates are created. In this case, I heavily rely on the use of certain basic economic assumptions. In particular, there is an assumption governing the shape and type of aggregate latent demand functions. Latent demand functions relate the income of a country, city, state, household, or individual to realized consumption. Latent demand (often realized as consumption when an industry is efficient), at any level of the value chain, takes place if an equilibrium in realized. For firms to serve a market, they must perceive a latent demand and be able to serve that demand at a minimal return. The single most important variable determining consumption, assuming latent demand exists, is income (or other financial resources at higher levels of the value chain). Other factors that can pivot or shape demand curves include external or exogenous shocks (i.e., business cycles), and or changes in utility for the product in question.
Ignoring, for the moment, exogenous shocks and variations in utility across countries, the aggregate relation between income and consumption has been a central theme in economics. The figure below concisely summarizes one aspect of problem. In the 1930s, John Meynard Keynes conjectured that as incomes rise, the average propensity to consume would fall. The average propensity to consume is the level of consumption divided by the level of income, or the slope of the line from the origin to the consumption function. He estimated this relationship empirically and found it to be true in the short-run (mostly based on cross-sectional data). The higher the income, the lower the average propensity to consume. This type of consumption function is labeled "A" in the figure below (note the rather flat slope of the curve). In the 1940s, another macroeconomist, Simon Kuznets, estimated long-run consumption functions which indicated that the marginal propensity to consume was rather constant (using time series data across countries). This type of consumption function is show as "B" in the figure below (note the higher slope and zero-zero intercept). The average propensity to consume is constant.
Is it declining or is it constant? A number of other economists, notably Franco Modigliani and Milton Friedman, in the 1950s (and Irving Fisher earlier), explained why the two functions were different using various assumptions on intertemporal budget constraints, savings, and wealth. The shorter the time horizon, the more consumption can depend on wealth (earned in previous years) and business cycles. In the long-run, however, the propensity to consume is more constant. Similarly, in the long run, households, industries or countries with no income eventually have no consumption (wealth is depleted). While the debate surrounding beliefs about how income and consumption are related and interesting, in this study a very particular school of thought is adopted. In particular, we are considering the latent demand across some 230 countries. The smallest have fewer than 10,000 inhabitants. I assume that all of these counties fall along a "long-run" aggregate consumption function. This long-run function applies despite some of these countries having wealth, current income dominates the latent demand for products and services. So, latent demand in the long-run has a zero intercept. However, I allow firms to have different propensities to consume (including being on consumption functions with differing slopes, which can account for differences in industrial organization, and end-user preferences).
Given this overriding philosophy, I will now describe the methodology used to create the latent demand estimates for this study. Since ICON Group has asked me to apply this methodology to a large number of categories, the rather academic discussion below is general and can be applied to a wide variety of categories and cities.
Step 1. Product Definition and Data Collection
Any study of latent demand across countries requires that some standard be established to define “efficiently served”. Having implemented various alternatives and matched these with market outcomes, I have found that the optimal approach is to assume that certain key countries are more likely to be at or near efficiency than others. These countries and cities are given greater weight than others in the estimation of latent demand compared to others for which no known data are available. Of the many alternatives, I have found the assumption that the world’s highest aggregate income and highest income-per-capita markets reflect the best standards for “efficiency”. High aggregate income alone is not sufficient (i.e., China has high aggregate income, but low income per capita and can not assumed to be efficient). Aggregate income can be operationalized in a number of ways, including gross domestic product (for industrial categories), or total disposable income (for household categories; population times average income per capita, or number of households times average household income per capita). Brunei, Nauru, Kuwait, and Lichtenstein are examples of countries with high income per capita, but not assumed to be efficient, given low aggregate level of income (or gross domestic product); these countries have, however, high incomes per capita but may not benefit from the efficiencies derived from economies of scale associated with large economies. Only countries with high income per capita and large aggregate income are assumed efficient. This greatly restricts the pool of countries and cities to those in the OECD (Organization for Economic Cooperation and Development), like the United States, or the United Kingdom (which were earlier than other large OECD economies to liberalize their markets).
The selection of markets is further reduced by the fact that not all countries in the OECD report industry revenues at the category level. Countries that typically have ample data at the aggregate level that meet the efficiency criteria include the United States, the United Kingdom and in some cases France and Germany.
Latent demand is therefore estimated using data collected for relatively efficient markets from independent data sources (e.g. Euromonitor, Mintel, Thomson Financial Services, the U.S. Industrial Outlook, the World Resources Institute, the Organization for Economic Cooperation and Development, various agencies from the United Nations, industry trade associations, the International Monetary Fund, and the World Bank). Depending on original data sources used, the definition of a category is established. In the case of this report, the data were reported at the aggregate level, with no further breakdown or definition. In other words, any potential product or service that might be incorporated within the category falls under the broadest definition of category. Public sources rarely report data at the disaggregated level in order to protect private information from individual firms that might dominate a specific product-market. These sources will therefore aggregate across components of a category and report only the aggregate to the public. While private data are certainly available, this report only relies on public data at the aggregate level without reliance on the summation of various category components. In other words, this report does not aggregate a number of components to arrive at the “whole”. Rather, it starts with the “whole”, and estimates the whole for all countries and the world at large (without needing to know the specific parts that went into the whole in the first place). All figures in this report are for sales resulting from retail channels.
Step 2. Filtering and Smoothing
Based on the aggregate view of products and services as defined above, data were then collected for as many similar countries as possible for that same definition, at the same level of the value chain. This generates a convenience sample of countries from which comparable figures are available. If the series in question do not reflect the same accounting period, then adjustments are made. In order to eliminate short-term effects of business cycles, the series are smoothed using an 2 year moving average weighting scheme (longer weighting schemes do not substantially change the results). If data are available for a country or a city, but these reflect short-run aberrations due to exogenous shocks (such as would be the case of beef sales in a country stricken with foot and mouth disease), these observations were dropped or "filtered" from the analysis.
Step 3. Filling in Missing Values
In some cases, data are available for countries or cities on a sporadic basis. In other cases, data may be available for only one year. From a Bayesian perspective, these observations should be given greatest weight in estimating missing years. Assuming that other factors are held constant, the missing years are extrapolated using changes and growth in aggregate national income. Based on the overriding philosophy of a long-run consumption function (defined earlier), countries which have missing data for any given year, are estimated based on historical dynamics of aggregate income.
Step 4. Varying Parameter, Non-linear Estimation
Given the data available from the first three steps, the latent demand is estimated using a “varying-parameter cross-sectionally pooled time series model”. Simply stated, the effect of income on latent demand is assumed to be constant unless there is empirical evidence to suggest that this effect varies (i.e., the slope of the income effect is not necessarily same for all cities). This assumption applies across cities along the aggregate consumption function, but also over time (i.e., not all cities are perceived to have the same income growth prospects over time and this effect can vary from city to city as well). Another way of looking at this is to say that latent demand for products and services is more likely to be similar across cities that have similar characteristics in terms of economic development (i.e., African cities will have similar latent demand structures controlling for the income variation across the pool of African cities).
This approach is useful across cities for which some notion of non-linearity exists in the aggregate cross-city consumption function. For some categories, however, the reader must realize that the numbers will reflect a city’s contribution to global latent demand and may never be realized in the form of local sales. For certain category combinations this will result in what at first glance will be odd results. For example, the latent demand for the category “space vehicles” will exist for “Togo” even though they have no space program. The assumption is that if the economies in these countries did not exist, the world aggregate for these categories would be lower. The share attributed to these countries is based on a proportion of their income (however small) being used to consume the category in question (i.e., perhaps via resellers).
Step 5. Fixed-Parameter Linear Estimation
Nonlinearities are assumed in cases where filtered data exist along the aggregate consumption function. There will always be those cities, especially toward the bottom of the consumption function, where non-linear estimation is simply not possible. For these cities, equilibrium latent demand is assumed to be perfectly parametric and not a function of wealth (i.e., a city’s stock of income), but a function of current income (a city’s flow of income). In the long run, if a city has no current income, the latent demand is assumed to approach zero. The assumption is that wealth stocks fall rapidly to zero if flow income falls to zero (i.e., cities which earn low levels of income will not use their savings, in the long run, to purchase goods and services). In a graphical sense, for low income cities, latent demand approaches zero in a parametric linear fashion with a zero-zero intercept. In this stage of the estimation procedure, low-income cities are assumed to have a latent demand proportional to their income, based on the city closest to it on the aggregate consumption function.
Step 6. Aggregation and Benchmarking
Based on the models described above, latent demand figures are estimated for all countries and cities of the world, including for the smallest economies. These are then aggregated to get world totals and regional totals. To make the numbers more meaningful, regional and global demand averages are presented. Figures are rounded, so minor inconsistencies may exist across tables.
1 INTRODUCTION & METHODOLOGY
1.1 Overview & Methodology
1.2 Market Potential Estimation Methodology
1.2.1 Overview
1.2.2 What is Latent Demand and the P.I.E.?
1.2.3 The Methodology
1.2.3.1 Step 1. Product Definition and Data Collection
1.2.3.2 Step 2. Filtering and Smoothing
1.2.3.3 Step 3. Filling in Missing Values
1.2.3.4 Step 4. Varying Parameter, Non-linear Estimation
1.2.3.5 Step 5. Fixed-Parameter Linear Estimation
1.2.3.6 Step 6. Aggregation and Benchmarking
2 SUMMARY RANKINGS
3 ½ TO 1-INCH NYLON PLASTIC BUSHINGS
4 TO 2 MEGAWATT ENGINES
5 TO 5 MEGAWATT ENGINES
6 MW GRID-CONNECTED PV SOLAR PHOTOVOLTAIC SYSTEMS
7 MW SOLAR PHOTOVOLTAIC CELL/MODULE EXPORTS
8 -MILLIGRAM CONTAINERS OF FROMAGE FRAIS
9 MW OFF-GRID SOLAR PHOTOVOLTAIC CONSUMER PRODUCTS
10 AC DRIVES
11 ADHESIVES AND SEALANTS
12 ADULT ENTERTAINMENT
13 ADVERTISING AGENCIES
14 AEROSPACE AND DEFENSE EQUIPMENT
15 AFTERMARKET PASSENGER CAR TIRES
16 AFTER-SUN MOISTURIZERS AND TAN-EXTENDER CREAMS
17 AGRICULTURAL CHEMICALS
18 AIR CONDITIONING AND REFRIGERATION EQUIPMENT
19 ALBUMS AND EPS
20 ALCOHOLIC COOLER BEVERAGES
21 ALES AND STOUTS
22 ALIMENTARY AND METABOLISM PHARMACEUTICALS
23 ALL MOUNTAIN SNOWBOARDS
24 ALUMINA REFINING
25 ALUMINUM DIE-CASTING FOUNDRIES
26 AMBIENT CANNED SPONGE PUDDING
27 AMMONIA-FREE SEMI-PERMANENT HAIR DYES
28 AMUSEMENT AND RECREATION SERVICES
29 ANALGESICS
30 ANALOG CAMCORDERS
31 ANTHRACITE MINING
32 ANTIDEPRESSANT PHARMACEUTICALS
33 ANTIFREEZE
34 ANTIPERSPIRANTS AND DEODORANTS
35 ANTI-REFLECTIVE GLASS
36 ANTISEPTIC FIRST AID CREAMS, SPRAYS, AND WIPES
37 APPAREL AND ACCESSORIES
38 APPETIZERS AND DIPS
39 APPLES
40 APPLICATIONS SOFTWARE
41 APPLICATION-SPECIFIC INTEGRATED CIRCUITS (ASICS)
42 APPLICATOR TAMPONS
43 ARCHITECTURAL SERVICES
44 ART DEALERS
45 ASIAN AND MIDDLE EASTERN BREADS
46 ATHLETIC FOOTWEAR
47 AUDIO COMPONENTS
48 AUTO AND HOME SUPPLY STORES
49 AVIATION SERVICES
50 BABY BOTTLES
51 BACON-FLAVORED POTATO CHIPS
52 BAGELS
53 BAGGED CHOCOLATE CANDY
54 BAKED GOODS
55 BAKERIES
56 BAKERY PRODUCTS
57 BAKING SODA TOOTHPASTE
58 BALLPOINT PENS
59 BANANAS
60 BAPS ROLLS
61 BAR SOAP
62 BASE CHEMICALS
63 BASMATI LONG GRAIN RICE
64 BATH ENHANCERS
65 BATTERY EGGS
66 BEAUTY AND BARBER SHOPS
67 BEEF-FLAVORED POTATO CHIPS
68 BEER
69 BELUGA CAVIAR
70 BEVERAGE MAKERS
71 BICYCLES AND BICYCLE ACCESSORIES
72 BIOTECHNOLOGY
73 BITUMINOUS COAL
74 BLACK TEA IN BAGS
75 BLANCMANGE AND PUDDING MIX
76 BLANK AUDIO CASSETTES
77 BLENDED WHISKEY
78 BOARD GAMES AND PUZZLES
79 BOAT BUILDING
80 BODY CARE PRODUCTS
81 BOILERS
82 BOOK PUBLISHING
83 BOTTLED WATER
84 BOTTLES OF LAGER BEER
85 BOUILLON CUBES
86 BOUTIQUE HOTELS
87 BOXED PEN AND PENCIL SETS
88 BOYS' SCHOOL UNIFORMS
89 BRAS AND ALLIED GARMENTS
90 BREAD
91 BREAKFAST CEREALS
92 BREATH FRESHENING SPRAYS
93 BREWERIES
94 BRIEFCASES
95 BROADBAND INTERNET ACCESS
96 BROADWOVEN FABRIC FINISHING MILLS
97 BROOM, BRUSH, AND MOP MANUFACTURING
98 BROWN AND WHOLEMEAL BREAD
99 BUBBLE GUM
100 BUDWEISER LAGER BEER
101 BUILDING INSPECTION SERVICES
102 BUILT-IN ELECTRIC OVENS
103 BULK DISPOSABLE DIAPERS
104 BUSES AND COACHES
105 BUSINESS SUPPORT SERVICES
106 BUTCHER SHOPS
107 BUTTER
108 CABLE AND DSL ROUTERS
109 CAD/CAM/CAE SOFTWARE
110 CAFES AND RESTAURANTS
111 CAJUN AND CARIBBEAN FOOD
112 CAKES AND PASTRIES
113 CALCIUM SUPPLEMENTS
114 CAMCORDERS
115 CAMERA AND PHOTOGRAPHIC SUPPLIES STORES
116 CAMPGROUNDS AND RECREATIONAL VEHICLE PARKS
117 CANAPÉ APPETIZERS
118 CANDLES
119 CANDY
120 CANNED BAKED BEANS
121 CANS OF LAGER BEER
122 CAR AUDIO SYSTEMS
123 CASHEWS
124 CASINOS AND GAMBLING
125 CAST IRON COOKWARE
126 CASUAL COMBINATION RESTAURANT/BARS
127 CAT FOOD
128 CD PLAYERS
129 CEILING LIGHT FIXTURES
130 CELLULAR TELEPHONES
131 CEMENT CONSTRUCTION MATERIALS
132 CEMETERIES AND CREMATORIES
133 CERAMIC HOUSEWARES
134 CHALKBOARDS
135 CHEESE MANUFACTURING
136 CHEMICALS
137 CHERRY-FLAVORED BOTTLED WATER
138 CHEWING GUM
139 CHICKEN PATTIES
140 CHILDREN'S AND INFANTS' CLOTHING STORES
141 CHILLED PASTA
142 CHINA AND PORCELAIN
143 CHINESE SIDE DISHES
144 CHIPS AND CRISPS
145 CHLORINE BLEACH CLEANING PRODUCTS
146 CHOCOLATE COOKIE CANDY BARS
147 CHUTNEY
148 CIGARETTE MANUFACTURING
149 CIGARS AND CIGARILLOS
150 CITRUS FRUIT
151 CIVIL AEROSPACE EQUIPMENT
152 CLASSIC HANDBAGS
153 CLAY BUILDING PRODUCTS
154 CLIMBING ROPES
155 CLOTHES DRYERS
156 CLOTHING ACCESSORIES
157 CMOS IMAGE SENSORS
158 COATED OR LAMINATED PAPER MANUFACTURING
159 COD LIVER OIL DIETARY SUPPLEMENTS
160 COFFEE AND TEA MANUFACTURING
161 COIN-OPERATED LAUNDRIES AND DRY CLEANERS
162 COLAS
163 COLLECTION AGENCIES
164 COLOR COSMETICS
165 COMBINATION VCR/DVD PLAYERS
166 COMMERCIAL BAKERIES
167 COMMUNICATIONS SERVICES
168 COMPACT FLUORESCENT LIGHT BULBS
169 COMPLETE DRY DOG FOOD
170 COMPOUND COOKING OILS AND FATS
171 COMPUTER STORAGE DEVICE MANUFACTURING
172 CONCENTRATED LIQUID FABRIC SOFTENERS
173 CONCRETE PIPE MANUFACTURING
174 CONSOLE VIDEO GAMES
175 CONSTRUCTION AND ENGINEERING SERVICES
176 CONSUMER BATTERIES
177 CONTACT LENSES
178 CONTINENTAL AND SPECIALTY PLANT BREAD
179 CONTINUOUS AIR FRESHENERS
180 CONTROL AND SUPPORT HOSIERY
181 CONVENIENCE STORES
182 CONVENTIONAL MINERAL OIL
183 COOKED CHICKEN PIECES
184 COOKIES AND CRACKERS
185 COOKING RANGES
186 COOLING FANS
187 COPPER ROLLING, DRAWING, AND EXTRUDING
188 CORDLESS COMPUTER MICE
189 CORPORATE STRATEGY SERVICES
190 COSMETICS AND TOILETRIES
191 COSTUME BRACELETS AND BANGLES
192 COTTON DIAPERS
193 COUGH AND COLD REMEDIES
194 CRACKERS
195 CRAFT BEER
196 CRAMI
197 CREAM CRACKERS
198 CREDIT BUREAUS
199 CRISPBREADS
200 CROISSANTS
201 CROSS/UTILITY VEHICLES (CUVS)
202 CRUDE PETROLEUM AND NATURAL GAS EXTRACTION
203 CRUDITÉS AND DIPS
204 CRUISE SHIP TOURISM
205 CRUMPETS AND PIKELETS
206 CRUSHED AND BROKEN STONE
207 CRUSHING OILSEEDS AND TREE NUTS EXCLUDING SOYBEANS
208 CRUSTY ROLLS
209 CUPCAKES
210 CURRENT-CARRYING WIRING DEVICE MANUFACTURING
211 CURTAIN AND DRAPERY MILLS
212 CUSTOM COMPOUNDING OF PURCHASED RESINS
213 CUT ORCHIDS
214 DAILY NEWSPAPERS
215 DAIRY CREAM
216 DARK BRANDY
217 DATA PROCESSING AND NETWORK SERVICES
218 DECAFFEINATED TEA
219 DECORATIVE NATURAL GAS SPACE HEATERS
220 DEFENSE INDUSTRY EQUIPMENT
221 DEHUMIDIFIERS AND HUMIDIFIERS
222 DEHYDRATED SOUP
223 DELI FOOD
224 DELUXE AND MALT WHISKEY
225 DENTAL FLOSS
226 DENTURE FIXATIVES AND CLEANSERS
227 DEPARTMENT STORES
228 DEPOSITORY CREDIT INTERMEDIATION
229 DESIGNER BATH AND SHOWER PRODUCTS
230 DESKTOP PERSONAL COMPUTERS
231 DETERGENT BARS
232 DIABETES MONITORING DEVICES
233 DIAL-UP INTERNET ACCESS
234 DIESEL TRUCKS
235 DIETARY SUPPLEMENTS
236 DIGESTION AIDS
237 DIGITAL CAMERAS
238 DIMENSION STONE
239 DINING OUT
240 DIPS
241 DIRECT SELLING ESTABLISHMENTS
242 DISCOUNT SUPERSTORES
243 DISCRETE SEMICONDUCTORS
244 DISHWASHER ADDITIVES
245 DISHWASHING PRODUCTS
246 DISPOSABLE CAMERAS
247 DISTILLATE FUEL OIL
248 DISTILLERIES
249 DOG FOOD
250 DOLLS AND FIGURES
251 DOMESTIC HEATING APPLIANCES
252 DRAFTING SERVICES
253 DRAM (DYNAMIC RANDOM ACCESS MEMORY)
254 DRAUGHT LAGER BEER
255 DRIED AND DEHYDRATED FOOD MANUFACTURING
256 DRINK CONCENTRATES
257 DRUG STORES AND PHARMACIES
258 DRY PASTA MANUFACTURING
259 DUCK AND GOOSE MEAT
260 DUFFLE BAGS
261 DURABLE GOODS
262 DVD PLAYERS
263 EASELS
264 EATING AND DRINKING PLACES
265 ECONOMY DISPOSABLE DIAPERS
266 EDIBLE OILS
267 EDUCATION AND TRAINING SERVICES
268 ELECTRIC BULK POWER TRANSMISSION AND CONTROL
269 ELECTRON TUBES
270 ELECTROSTATIC BROOMS
271 ELEMENTARY AND SECONDARY SCHOOLS
272 EMERGENCY CANDLES
273 ENERGY DRINKS
274 ENGINEERING SERVICES
275 ENGINES WITH LESS THAN 1 MEGAWATT OF POWER
276 ENGLISH MUFFINS
277 ENVELOPE MANUFACTURING
278 ENVIRONMENTAL CONSULTING SERVICES
279 ERMINE FUR COATS
280 ETHNIC APPETIZERS
281 EVENING HANDBAGS
282 EVERYDAY COOKIES
283 EXERCISE EQUIPMENT AND PERSONAL CARE APPLIANCES
284 EXPLOSIVES MANUFACTURING
285 EXTENDED STAY AND BUSINESS SUITE MOTELS
286 EXTERMINATING AND PEST CONTROL SERVICES
287 EXTERNAL SANITARY PROTECTION PRODUCTS ...
626 PLUMBING PRODUCTS
627 PLUSH TOYS
628 POLISHING SUPPLIES
629 POLLOCK
630 POLLUTION CONTROL EQUIPMENT AND SERVICES
631 POLYCARBONATE SPORTS BOTTLES
632 POLYMERASE CHAIN REACTION (PCR) MACHINES
633 POPCORN
634 PORE CLEANSING STRIPS
635 PORK PIES
636 PORT AND SHIPBUILDING EQUIPMENT
637 POTASH, SODA, AND BORATIC MINERALS MINING
638 POTATO CHIPS
639 POTTED POINSETTIA PLANTS
640 POULTRY PROCESSING
641 POWDER DETERGENTS
642 POWER TOOTHBRUSHES
643 PRAWN APPETIZERS AND DIPS
644 PRECIOUS METAL JEWELRY AND PERSONAL ARTICLES
645 PREFABRICATED METAL BUILDINGS
646 PREMIUM AND SUPER PREMIUM ICE CREAM
647 PREMIXED ALCOHOLIC BEVERAGES
648 PREPARED AND PROCESSED CHICKEN AND TURKEY POULTRY
649 PRE-RECORDED CASSETTES
650 PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES
651 PRESCRIPTION EYEGLASS FRAMES
652 PRESENTATION MATERIALS
653 PRIMARY ALUMINUM PRODUCTION
654 PRINTED CIRCUIT BOARDS
655 PRINTERS
656 PRINTING SPECIAL BUSINESS FORMS AND CHECKBOOKS
657 PRIVATE RESIDENTIAL CONSTRUCTION
658 PROCESSED FISH AND CRAB
659 PROFESSIONAL ANALOG COMPASSES
660 PROGRAMMABLE LOGIC DEVICES
661 PROPELLING PENCILS
662 PROPERTY AND CASUALTY INSURANCE
663 PROTEOMIC PROTEIN CHIPS
664 PUBLIC RELATIONS AGENCIES
665 PUBLISHING ADVERTISING
666 PUBS, CLUBS, AND NIGHTCLUBS
667 PUFFS
668 PULMONARY DRUG DELIVERY SYSTEMS
669 PULP MILLS
670 PUMP DEODORANTS
671 PURSES
672 RADIANT NATURAL GAS SPACE HEATERS
673 RADIATORS AND PUMPS
674 RADIO AND TELEVISION BROADCASTING
675 RAILROAD EQUIPMENT
676 RANGE HOODS
677 READY MEALS
678 REAL ESTATE INVESTMENT TRUSTS
679 RECONSTITUTED WOOD PRODUCTS
680 RECORDED MUSIC
681 RECREATIONAL VEHICLE DEALERS
682 RED AND ROSÉ WINE
683 REFERENCE SOFTWARE
684 REFINING CANE SUGAR FROM RAW CANE SUGAR
685 REFLECTOR LIGHT BULBS
686 REFRIGERATION AND HEATING EQUIPMENT
687 REGIONAL NEWSPAPERS
688 RELAYS AND INDUSTRIAL CONTROLS
689 RELISH
690 REMEDIATION SERVICES
691 RENDERING ANIMAL FAT, BONES, AND MEAT SCRAPS
692 RENEWABLE ENERGY EQUIPMENT
693 RENTAL OF TRUCKS WEIGHING 3.51 TO 15 TONS
694 REPLACEMENT TIRES FOR CARS AND LIGHT VANS
695 RESIDENTIAL CONSTRUCTION
696 RESIDUAL FUEL OIL
697 RESTAURANTS
698 RETAIL BAKERIES
699 RETIREMENT SAVINGS PLANS
700 RETREADING OR REBUILDING TIRES
701 REUPHOLSTERY AND FURNITURE REPAIR
702 REUSABLE PLASTICS FOOD CONTAINERS
703 REWRITABLE COMPACT DISC MEDIA (CD-RWS)
704 RFID TAGS
705 RICE MILLING
706 RIDE-ON TOYS
707 RINGTONES
708 ROAD BIKES
709 ROLLERBALL PENS
710 ROLL-ON DEODORANTS
711 ROOMING AND BOARDING HOUSES
712 ROOT VEGETABLES
713 ROPE, CORDAGE, AND TWINE MILLS
714 ROYAL JELLY SUPPLEMENTS
715 RUBBER BRACELETS
716 SALAD ACCOMPANIMENTS
717 SALINE BREAST IMPLANTS
718 SALON HAIR CARE PRODUCTS
719 SALT AND VINEGAR POTATO CHIPS
720 SANDWICH CRACKERS
721 SANITARY PROTECTION PRODUCTS
722 SATELLITES
723 SAUCES, SALAD DRESSINGS, AND CONDIMENTS
724 SAUSAGE ROLL APPETIZERS
725 SAVORY SNACKS
726 SAW/BAW DUPLEXERS
727 SAWMILLS
728 SCANNERS
729 SCENTED CANDLES
730 SCHIFFLI MACHINE EMBROIDERY
731 SCHOOL FOOD SERVICE
732 SCONES
733 SCRAP RECYCLING
734 SCREW MACHINE PRODUCTS
735 SEAFOOD CANNING
736 SEASONAL COOKIES
737 SECONDARY SMELTING AND ALLOYING OF ALUMINUM
738 SECURITY SYSTEMS SERVICES
739 SELF-TANNING PRODUCTS
740 SEMICONDUCTOR AND RELATED DEVICE MANUFACTURING
741 SEMI-MOIST DOG FOOD
742 SEMI-PERMANENT HAIR COLORANTS
743 SENSORS
744 SERVICES
745 SET FRENCH YOGURTS
746 SEWAGE TREATMENT FACILITIES
747 SEWER FACILITIES
748 SEWING, NEEDLEWORK, AND PIECE GOODS STORES
749 SEX TOYS
750 SHAMPOO
751 SHAVING RAZORS AND BLADES
752 SHEER WINDOW FURNISHINGS
753 SHELLFISH
754 SHIP BUILDING AND REPAIRING
755 SHOE POLISH
756 SILICONE CONTACT LENSES
757 SILVER ORE MINING
758 SINGLE-SERVING DRY AMBIENT SNACKS
759 SKIN CARE PRODUCTS
760 SKOL LAGER BEER
761 SLAUGHTERING ANIMALS EXCLUDING POULTRY
762 SLEEPING BAGS
763 SLICED COOKED MEAT
764 SLOW-RELEASE HOUSEHOLD FRESHENERS
765 SMALL FIREARMS MANUFACTURING
766 SMART CARS
767 SMIRNOFF ICE READY-TO-DRINK ALCOHOLIC BEVERAGES
768 SMOKED SALMON
769 SMOKER'S TOOTHPASTE
770 SMOOTHIES
771 SNACK FRUIT PIES
772 SNOWBOARDING BOOTS FOR STEP-IN BINDINGS
773 SNOWMOBILES
774 SOCCER BALLS
775 SOCKS, STOCKINGS, AND TIGHTS
776 SOFT CHEESE
777 SOLAR VESTS
778 SOLID AND SEMI-SOLID COOKING FATS
779 SOUP
780 SOUR BEETROOT PICKLES
781 SOY MILK
782 SPACE HEATERS
783 SPARKLING MINERAL WATER
784 SPECIAL OCCASION WRITING INSTRUMENTS
785 SPICE AND EXTRACT MANUFACTURING
786 SPORTING GOODS RETAILERS
787 SPORTS AND ENERGY DRINKS
788 SPREADABLE OILS AND FATS
789 SPREADS AND MARGARINES
790 SQUASH BALLS
791 SRAM (STATIC RANDOM ACCESS MEMORY)
792 STACKING POTATO CHIPS
793 STANDARD AND BULK ICE CREAM
794 STAPLERS
795 STATIONARY BICYCLES
796 STEAM AND AIR CONDITIONING SUPPLY
797 STEEL WIRE DRAWING
798 STELLA ARTOIS LAGER BEER
799 STICK AND SOLID DEODORANTS
800 STILL BOTTLED WATER
801 STONE MINING AND QUARRYING
802 STORAGE BATTERY MANUFACTURING
803 SUGAR CANDY
804 SUN CARE PRODUCTS
805 SUPER PREMIUM TAKE-HOME ICE CREAM
806 SUPPORT ACTIVITIES FOR AIR TRANSPORTATION
807 SURFACE ACTIVE AGENT MANUFACTURING
808 SWEET PICKLES
809 SWITCHGEAR AND SWITCHBOARD APPARATUS
810 SYNTHETIC AND SEMI-SYNTHETIC OIL
811 TABLE LAMPS
812 TAKE-HOME COMPLETE ICE CREAM DESSERTS
813 TALCUM POWDER
814 TAMPONS WITHOUT APPLICATOR
815 TANNING BEDS
816 TAPIOCA TEA DRINKS
817 TARTAR CONTROL TOOTHPASTE
818 TAXICABS
819 TEA LIGHTS
820 TEEN ENTERTAINMENT MAGAZINES
821 TELECOMMUNICATIONS EQUIPMENT
822 TELEPHONE AND TELEGRAPH FACILITIES
823 TELEVISION BROADCASTING
824 TEMPORARY EMPLOYMENT SERVICES
825 TENNENT'S LAGER BEER
826 TEQUILA AND MESCAL SPIRITS
827 TESTING LABORATORIES
828 TEX-MEX FOODS
829 TEXTILE FABRICS
830 THAI FOODS
831 THIGH HIGHS HOSIERY
832 THREAD MILLS
833 TIRE CORD AND TIRE FABRIC MILLS
834 TISSUES
835 TITANIUM LACROSSE STICKS
836 TOBACCO STEMMING AND REDRYING
837 TOILET BLEACHING TABLETS
838 TONE-ON-TONE HAIR COLORANTS
839 TOOTHBRUSHES
840 TOOTHPASTE FOR SENSITIVE TEETH
841 TORTILLA MANUFACTURING
842 TOY STORES
843 TRADITIONAL CHUTNEY
844 TRAIL MIX
845 TRANSFORMERS
846 TRANSLATION AND INTERPRETATION SERVICES
847 TRANSPORTATION EQUIPMENT
848 TRAVEL TRAILER AND CAMPER MANUFACTURING
849 TREATS FOR DOGS
850 TRUCK TRAILER MANUFACTURING
851 TURKEY PIECES
852 ULTRA DISPOSABLE DIAPERS
853 UNDERWATER DIGITAL CAMERAS
854 UNDERWEAR, NIGHTWEAR, AND SWIMWEAR
855 UNDERWIRE BRAS
856 UNISEX FRAGRANCES
857 UNLEADED GASOLINE
858 UNSCENTED CANDLES
859 UPHOLSTERED HOUSEHOLD FURNITURE MANUFACTURING
860 URANIUM-RADIUM-VANADIUM ORES
861 USED CAR DEALERS
862 UTILITIES
863 VACUUM CLEANERS
864 VALVES AND PIPE FITTINGS
865 VEGETABLE AND SEED OILS
866 VEGETARIAN FOODS
867 VENETIAN BLINDS
868 VENTURE CAPITAL
869 VERTICAL BLINDS
870 VIDEO TAPE AND DISC RENTALS
871 VIENNA AND FRENCH BREAD
872 VITAMIN TONICS
873 VODKA
874 VOICE-RECOGNITION DICTATION SOFTWARE
875 VOIP TELEPHONE SERVICE
876 VOL-AU-VENT APPETIZERS
877 WAFFLES
878 WALLETS AND PURSES
879 WALL-MOUNTED LIGHT FIXTURES
880 WASHER-DRYERS
881 WASHING MACHINES
882 WATCHES
883 WATER SUPPLY AND IRRIGATION SYSTEMS
884 WCDMA/UMTS-BASED CELLULAR TELEPHONES
885 WEB SERVERS
886 WEDDING DRESSES
887 WEFT KNIT FABRIC MILLS
888 WEIGHT GAINER AND MUSCLE BUILDER SUPPLEMENTS
889 WELDING AND SOLDERING EQUIPMENT MANUFACTURING
890 WET MILLING OF CORN
891 WHISKEY
892 WHITE BREAD
893 WHOLE CHICKEN POULTRY
894 WI-FI CELLULAR TELEPHONES
895 WINDOW BLINDS
896 WINE
897 WINERIES
898 WINTER SPORTING GOODS
899 WIPES
900 WIRELESS COMMUNICATION SERVICES
901 WIRING DEVICES
902 WOMEN'S APPAREL AND ACCESSORIES
903 WOMENSWEAR AND LINGERIE
904 WOOD PRESERVATION
905 WOOL YARN
906 WORKERS' COMPENSATION INSURANCE
907 WRITING INSTRUMENT REFILLS
908 YARN SPINNING MILLS
909 YELLOW FATS
910 YOGA MATS
911 YOGURT WITH LIVE CULTURES
912 DEFINITION OF TERMS
913 DISCLAIMERS, WARRANTEES, AND USER AGREEMENT PROVISIONS
913.1 Disclaimers & Safe Harbor
913.2 ICON Group International, Inc. User Agreement Provisions
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW6
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
