Assignment. The Company for this assignment is General Mills!Book for assignment: Kotler, P. &…

Assignment. The Company for this assignment is General Mills!Book for assignment: Kotler, P. & Keller, K. L. (2016). A framework for marketing management. Toronto: Pearson Prentice Hall. Chapter 11: Developing Pricing Strategies and ProgramsHere is the question:After reading Chapter 11 of the textbook, go to Khan Academy (http://www.khanacademy.org/) and type “demand†to navigate to a video on the fundamentals of price and demand.Using the company you selected in Workshop One, select a product or service from the company’s product offering and respond to the following in your weekly marketing analysis paper:Evaluate using clear, insightful critical thinking, the organization’s pricing plan on this product.Identify the pricing strategy or strategies that are used.Compare and contrast the organization’s pricing strategy with that of a close competitor. How are they the same? How are they different?Assume you are the product manager for this same product; the close competitor has just dropped their price 20% on their competing product offering. You are now responsible for setting a new price for this product and writing a new formal price plan. Following the six-step Setting the Price model that starts on page 176 of the course textbook, write a formal price plan using clear, insightful critical thinking.Paper requirements:Length: five – six pagesResearch requirements: 10 research sources. Sources must be credible and from the last five years.Your paper should use proper spelling, grammar, and APA formatting.