The missing elements from the marketing manager's assessment are an estimation of demand and costs to produce the product. If demand is low and/or if costs to produce are high relative to market cost, the profit margin will not be substantial.
If, however, the cost to produce is low and demand is high, the marketing manager is correct that charging a low price and anticipating high sales will produce a strong profit margin.
It would also be a good idea to consider strategies/channels for introducing the product to the consumer, and related costs.
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