Shawn says that Chris has made the subject clear, or understandable, for everyone.

He calls on Alex for the final question, meaning he sees Alex's hand raised and gives Alex permission to speak.

So Alex says, "Given the growing competition…."

The word "given" (given) in this case means considering, with reference to, we might also say "in light of."

"Given the growing competition" - when we think about, or when we consider the growing competition.

Given the possibility that it might rain, you should bring an umbrella.

That's like saying if you think about, if you consider the fact that it might rain, then you should bring an umbrella so you don't get wet.

Alex says, "Given the growing competition (or the increasing amount of competition), is it possible for us to drop this product and move into a different market?"

The phrase, "Is it possible?" means, "Can we do this?" - "Is it feasible?" (feasible).To be "feasible" means you can do it.

In other words, Shawn is asking, "Can we drop this product?" The verb "to drop" (drop), here, means to stop doing something, to leave something, or to no longer use or produce something.

Alex wants to know whether the company can stop making this product and move into a different market, meaning produce or make a new product.

At the university, for example, you might drop a course, meaning that you stop taking the class, or you might drop your membership to a local gym or health club.

"To drop," then, means to stop doing or stop using something.