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last activity : 12 22 2011 11:13:31 +0000
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Important Terms/words which are frequently used, one should know :-
Market Skimming:- A pricing strategy wherein a firm charges premium prices and attracts customers less concerned with price than service assortment and status.
Markup:- The amount of money added to the cost of goods to calculate retail price. E.g. if cost of goods is Rs 100/ and you add Rs 50/- to this to arrive at the retail price of Rs 150/- then the mark up is Rs 50/-
Markup Percentage:- The Rupee mark up expressed as a percentage of the cost price. E.g. if cost of goods is Rs 100/ and you add Rs 50/- to this to arrive at the retail price of Rs 150/- then the mark up is Rs 50/- and the mark up percentage is 50%.
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Important Terms/words which are frequently used, one should know :- Market Skimming :- A pricing strategy wherein a firm charges premium prices and attracts customers less concerned with price than service assortment and status. Markup :- The... |
Important Terms/words which are frequently used, one should know :- Markdown percentage :- A control tool used by buyers. It is calculated by dividing total Rupee markdowns by total sales. E.g. if total Rupee markdown is Rs 100,000 and Total... |
Important Terms/words which are frequently used, one should know :- Markdown :- A reduction in the original retail price, primarily taken for clearance of end of season merchandise or for promotional reasons. |