Comparing multiple columns by occurrences of text using IF and LARGE

This is in Power Pivot and I am as you may see, a novice when it comes to writing functions.

The columns I am trying to use in the formula are MARKET, BRAND POSITION, ShowAllCost as well as Newcolumn.

I want to compare all ShowAllCost in a certain MARKET and change all BRAND POSITION attached to that MARKET except for the seven highest ShowAllCost in a certain MARKET to "Others" in NewColumn.

This is my start:

Formula:

=IF(AND([MARKET]=Bubblegum)((LARGE([ShowAllCost];7))(NewColumn;"Others")

The best outcome would be that I wouldn't have to make more than one formula to scan all the different names in MARKET when looking for BRAND POSITIONs to call "Others" in NewColumn.

What am I doing wrong and what should I write?

Thanks!