Question

Lakshmi Chemicals Limited a soap manufacturing company wanted to increase its market share from 30% to 55 percent in the long run a recent report submitted by the research and development department of the company had predicted a growing trend of herbal and Organic products on the basis of this report the company decided to diversify into new variety of soaps with natural ingredients having benefits and fragrances of Jasmine rose lavender Mogra lemon grass green apples strawberry the unique selling preposition watch to promote eco friendly living in the contemporary lifestyle the company decided to allocate rupees 30 crores to achieve the objective identify the type of one of the functions of Management mentioned above which will help the company to acquire dominant position in the market

Answer 1

gathering and analysing market information
i guess..