Mr. Harish Jain, CEO of Energetic Enterprises has established the firm for the manufacture and marketing of an innovative product. The firm earned a reputation for its product within two years of its inception and enjoyed a monopoly position in the market for its product. Now it has a turnover of about Rs. 80 crores. Three years back, some firms entered the market and offered cheap substitutes which were of better quality. This year, Mr. Harish Jain is worried because about 40% of the market share has already been taken away by the new firms and he is not able to check this trend. Mr. Jain has been looking after both production and marketing functions through finance are being looked after by a finance manager having a professional degree in chartered accountancy Mr. Jain has recently lowered the price of his product to fight competition, but even this has not helped. He has now approached you for advice to stabilize his sales volume. Questions : (a) What is the orientation of Mr. Jain in selling his product? (b) What environmental factors have caused a worry to Mr. Jain? (c) As a consultant, what strategies will you suggest to check further fall in market share? solution