You$$ve been hired to manage the Gotalot Company. Your company produces and sells high$-$quality,fashion$-$forward raincoats, with a certain novel and quirky appeal that sets them apart from thecompetition. Here$$s some background: it$$s January, $2024,$ and you are replacing the firm$$s lastmanagement team, which was fired recently after poor financial performance during the last severalquarters. The original managers met with significant success early, generating substantial profits andhigh profit margins right away during the early years. With more intense competition, Gotalot$$sinitial advantage faded and the company$$s profits shrank and recently turned to losses, leading tothe dismissal of the management team. Company owners are agreed on the need for newmanagement and are enthusiastic about your leadership. However, they are of mixed minds on thenature of the problem: one group thinks that profit potential is as high as ever, but believes the firmhas not handled its pricing and advertising strategies well. Another group believes that the product,which has not been updated in ten years, is nearing the end of its life$-$cycle, and that no combinationof pricing and advertising will restore sustainable profits. Both groups want to give you a chance tothoroughly analyze the firm$$s market potential with its current product, since a product re$-$designwould be expensive and might not leave the firm any better off. Everyone hopes your strategicrecommendations will at the very least enable the company to restore and sustain profitability forthe foreseeable future