May 2019

Your company is facing stiff competition from a competitor that is importing your brand from a foreign country. It seems to be the exact same product as yours, and now you learn that the warranty is valid as well. For some reason, they are able to import equipment and provide services for less than you can.

They are aggressive in the marketplace with reduced prices, and are calling on customers who have been loyal to your company for many years. You have already lost some key customers to them. Your salespeople regularly get beaten up on price. Sales are slipping and your sales team is complaining, but they have no answers. There is a sense that the market is no longer there, and some even believe your company will eventually be run out of the market.

You know better. You know there are many opportunities out there, but your salespeople have become gun-shy and are no longer following up on leads, even hot ones. It is time for drastic action.

How would you handle this situation?