Focus on monitoring the Marketing environment and marketing research.
You need to develop certain research tools to understand things like your target market and target audience. How would you begin researching these two items for a new product offering or new business? Let's say you want to open up a new pizza restaurant - how would you research this and what would you need to look for (also where?)? Try not to focus only on the single dimension of say location (many people want to do this) - Marketing is multidimensional as we have learned.