1. What are the implications of: (a) a price that is set too high by the marketing manager; and (b) a price that is set too low by the marketing manager?ASSIGNMENT - PRICE (2- P IN MARKETING MIX() Please answer the following questions and upload your answers to the Pricing Assignment Icon posted to Blackboard at Week S. Due date for this is Tuesday, October 18. I. What are the implications of (A) a price that is set too high by the marketing manager, and (6) a price that is set too low by the marketing manager? 1. With regard to "Elasticity of Demand": (8) Namie a product that has price inclasticity and explain why; and (b) Name a product that might have price elasticity and explain why 1. Why do retailers use "Mark Up Pricing"? 1. Under what conditions might the marketing manager for the Honda Odyssey milal-kan price her brand above the price for her direct competitor, the Kia Sedona miplayan? 1. Why would Nandifrom's shoe department have a "4064 Off promotional pricing sale in January? With regard to the legality of price strategy, if you were a consultant thing a training session to marketing managers at McDonald's about pricing legal houses .I. what would you tell them about what they can and cannot do with pricing in order to avoid legal youble? 1. What Price Strategy do you think should be used for your course project? Explain why? 1 Solve the following pricing problem facing a textbook supplier