Section You have just been hired as a marketing manager by a company in Dubai (located at Jumeirah Beach) called WindSurf which manufacture different kind of windsurf boards. Each board is made out of wood coming from Califomia and fiberglass coming from a local producer Windsurf is a very young company and was started 12 months ago by two brothers You are responsible for the marketing plan of a new high end custom board. You are the only local manufacturer but you are competing against top international brands such a Burton and Fanatic from the US. Your advantage over the competition is that you are a local company but on the other hand, your brand is not well known. Consequently, you have to devote and invest significant advertising, promotion and sponsorship budgets. Word of mouth is also very important In the top and market of surf boards, the total UAE market in units is estimated to be around 5800 as disclosed by a recent market survey done by a magazine. This market however, is dominated by Burton and Fanatic who control 90% of the UAE market. These brands have very high levels of brand equity. There are 5 other international brands competing for the remaining 10% The average price of a windsurf board in the top end market is $820-5830 The new high-end custom board costs $159 to manufacture. Raw materials total 569 per board Freight and shipping costs amount to $28 per beard. You have also estimated in your pricing analysis that it can be sold for $825 at the retail level. The retailer takes a 40% margin. You have decided to invest $25,000 in media advertising and S5000 in brand signage. You have also agreed to sponsor a local windsurfing competition which will cost $8000. You have hired an experienced sales representative that get 8% commission for the retail price) for each beard sold Questions 1. What is the required level of sales (RLS) in units and in dollars to achieve a profit objective of $40,000 in the first year? (6 marks) 2. Is the RLS figure in year I realistic to achieve? Justify your answer. (6 marks) 3. What pricing strategy would you recommend for the new board, and why? (8 marks)