Mark Is Setting Up His New Business

question 29

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.

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Definitions:

Pleasure-Seeking Energies

The drive towards activities or experiences that provide a sense of satisfaction, enjoyment, or pleasure.

Oedipus Complex

A theory in psychoanalytic theory that describes a child's feelings of desire for the opposite-sex parent and jealousy and envy toward the same-sex parent.

Premarital Sex

Sexual activities practiced by individuals before entering into a marital union.

Freud

Sigmund Freud, an Austrian neurologist and the founding father of psychoanalysis, a method for treating psychopathology.