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Though the inputs for both gross profit margin and markup will be the same (revenue and cost), the formulas used for these metrics are different. Depending on your specific goals and constraints, you may choose to solve for markup or margin first in your pricing strategy. When it comes to pricing your products or services, […]
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For instance, clothing has an elastic demand because there are a lot of choices (substitute goods) and people can choose how much they want to spend on clothing. Retailers offer huge sales in clothing to be competitive and increase their revenues. So, because the demand is elastic, the demand for clothes increases as the prices […]
Content No Forever and a Day Contracts Why your business needs proper Bookkeeping Integrated Financial Tools and Software Is contracted services or in-house better? Resources for YourGrowing Business Related Service Guides Even if you’re “not a numbers person,” or even running a not for profit operation, there’s no denying that it’s cash flow that keeps […]