Chetak India Limited and auto company is facing the problem of declining market share due to increased competition from the existing and new players in the market its competitors are introducing low price models for the mass consumers who are price sensitive for quality conscious consumers the company had decided to introduce new models with added features and new technology in advancement .
1.what type of decision has the company taken?
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Answer:
The type of plan needed to be prepared Under this situation is 'Strategy' and the steps involved in preparing this plan are:
1. Setting up of objective.
2. Adopting a particular course of action.
3. Allocating resources for achieving the objectives.
Explanation:
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