In this question, a statement is given followed by two courses of action numbered I and II. A course of action is a step or administrative decision to be taken for improvement, follow up or further action in regard to the problem, policy, etc. On the basis of information given in the statement, you have to assume everything in the statement to be true and decide which one/ones are possible course(s) of action.
Statement: In last 3 years, the sale of a particular product from Company X has declined considerably compared to its competitors.
Course of Action:
I. Company X should conduct market research and competitor analysis tounderstand their product and their strategy.
II. Company X should try to reduce the price of the product and even tryadding new features to it.