Fountain Plus, Inc. a manufacturer of bottled water, has enjoyed rapid growth in sales of one of its flavored water products, Xtrafresh, for which it has a patent, which has just expired. It now faces fierce competition from a number of other bottled water manufacturers in the case of Xtrafresh.
- As a manufacturer in the bottled water industry, what type of a market does Fountain Plus Inc. operate in before and after the patent expired? Explain why.
- What will happen to Fountain Plus Inc. now that the patent has expired?