What was the business model of the home video rental market when Netflix was founded? I- The market was fragmented and dominated by small retail r...

What was the business model of the home video rental market when Netflix was founded?

I- The market was fragmented and dominated by small retail rental stores.
II- Customers rented movies mainly on VHS tapes for a certain period of time and paid a fee per rented movie.
III- The success of the market leader, Blockbuster, was based on the perception that movie rentals were largely impulse decisions.
IV- Blockbuster's strategy for growth was based on opening new stores to expand geographic coverage and increase penetration and market share in existing markets.
a) Only I and II are correct.
b) Only II and III are correct.
c) Only III and IV are correct.
d) I, II, III, and IV are correct.