Mark Is Setting Up His New Business

Multiple Choice

Mark is setting up his new business.He has defined the industry in which he is competing and has also defined his customers.In the context of conducting an external analysis, which of the following should be Mark's next step?

A) Mark should examine and develop insights about substitutes.
B) Mark should draw a set of competitive maps.
C) Mark should research the industry.
D) Mark should develop an understanding of his competitive advantage.