A bull industry is one that is experiencing sustained growth, driven by technological innovation,

consumer demand, or favourable market conditions. The opposite is a bear industry, which is in

decline. The terms are borrowed from stock market language but are also used in category

management to describe the overall trajectory of an industry. For ABC Ltd, operating in a bull

industry means it must prepare for higher demand, increased competition, and potential supplier

shortages. This requires a proactive category strategy that focuses on securing long-term supplier

relationships, investing in innovation, and managing risks associated with rapid growth. Recognising

industry cycles ensures that procurement strategies are forward-looking and aligned with long-term

organisational objectives. Misclassifying an industry’s trajectory could lead to missed investment

opportunities or poor resource allocation.

Reference: CIPS L5M6 Study Guide, p.150