ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To make money Macy’s marks up the cost of their products by 15% based on cost.
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Marketing Information Management
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Market Planning
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Promotion
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Pricing
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Explanation:
Detailed explanation-1: -Markup refers to the difference between the selling price of a good or service and its cost. It is expressed as a percentage above the cost. In other words, it is the premium over the total cost of the good or service that provides the seller with a profit.
Detailed explanation-2: -The cost-based pricing strategy involves setting the price of a product or service based on the cost. Then, add a margin to obtain the selling price. For example, it costs $2, 000 to make a computer. Then, the manufacturer decides to add 30% of the cost to get the selling price.
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