HELP PLEASE For this discussion, you will perform the role of a marketing manager charged with introducing a new product to the market. There are many decisions that might shape the plausible direction of your marketing mix and many departments/teams in a company with varying interests in your decisions. For instance, the selling price is of particular interest to the accounting/finance teams. Yet, before deciding if your product introduction plan will leverage a pricing skimming strategy or a penetration pricing strategy, you should figure out the costs of doing business.

Instructions Choose a legal brand or consumer product (e.g. Snickers candy bar, Nike, 3M, etc.) to help you contextualize your responses. Post an original, 250-word minimum that responds to the prompts below. Use at least 1 source outside of your course text and cited using APA style at the bottom of your post.

Provide a short list of possible costs associated with producing your companys product and/or services.

Describe the concepts of price skimming and penetration pricing.

What are the advantages and disadvantages of each strategy for your chosen company?

What are the advantages and disadvantages to the consumer?

How might this introduction impact the industry as a whole?

Name at least one possible ethical concern when setting the selling price?