This is not the right question! It's really not that simple.
Like in any case, you need to determine what is big, what is changing, and what can be changed.
So, is the industry overall seeing falling R or rising C? If so, what is the segmentation? And, within that segmentation what is big, what is changing, and what can we affect.
If we can't "fix" either of these, can we grow our way out of this in a new market? Classic BCG matrix...milk our Cash Cow in this stagnant market and find a Star. Or, if it's a Dog, get rid of it and find a Star.
Your question is literally solving an entire case. And for that, we need a lot of questions, a robust framework, and more charts/graphs/information provided!
Possible solutions (i.e. essentially everything):
- Lower prices
- Make product better (and raise prices)
- Create a new product that meets customer needs
- Buy up competition (and raise prices)
- Cut costs
- Enter a geography in this industry
- Enter a new industry in this geography
- Enter a new geography and a new industry
- Buy another company in a promising industry/geography
- Merge with competition