• The CEO of a large company selling seeds and garden supplies toconsumers and businesses through catalogs and the Internet isunhappy with its overall profitability. He feels that part of thesolution is to be more professional in price setting, and he asks thedirector of marketing to hire an experienced person for a newposition of pricing manager. While interviewing one candidate, themarketing director explains that the company has been advised tolisten more to customers and respond to their needs and asks thecandidate how he would implement this advice in the area ofpricing. The candidate responds as follows:2.“It’s great to listen to the customer when you are designing yourproduct, but it’s just not practical in pricing. All the customers haveto say is that they want lower prices. If you want me to increaseprofits, I can’t very well listen to that!”3. a. What should the marketing director make of this response?