Gerald Is Planning on Setting Up a Burger Joint in His

Multiple Choice

Gerald is planning on setting up a burger joint in his hometown.He finds out the NAICS (North American Industry Classification System) code for his business.From this information, he is able to understand that his immediate area contains virtually no competitors and has the potential to do very well.In the context of the critical steps involved in conducting an external analysis, Gerald is ________.

A) starting to develop an understanding of his competitive advantage
B) drawing a set of competitive maps
C) defining the industry in which he is competing
D) examining and developing insights about substitutes