Bosely Corporation is reviewing its business strategy. The first step for Bosely is to perform an ...

 The industry analysis is composed of five areas:
1.Competitors - How competitive is the industry for Bosely's particular product ? They can differentiate the product to reduce competition.
2.Potential entrants to the market - How easy is it for new competitors to join the market? Create barriers to entry, such as high capital requirements.
3.Equivalent products - Is there a substitute product available?  Make continuous product improvements to reduce likelihood of equivalent products.
4.Bargaining power of customers - How many suppliers can customers access?  Try to negotiate long-term purchase agreements.
5.Bargaining power of input suppliers - How many raw material vendors are there?  Try to find alternative suppliers and negotiate the best price for raw materials.

Correct!