Title: Apply formulas for pricing to calculate markup and markdown.
Course: Strategic Marketing (12152) > Section: Pricing Products and Services

Application should include formulas for

- calculating markup, using cost and retail methods
- calculating markdowns and sale prices
- calculating discounts
- calculating maintained markup.

Process/Skill Questions:

- How is the cost method of pricing different than the retail method?
- What is the formula for determining price, using the retail method?
- Under what circumstances might merchandise be marked up or down?
- What criteria can be used to decide which method for determining markup is best to use?
- What are the advantages and disadvantages of markdowns, sales, and discounts?