thank you so much and hi sir, I'm a class 10 student who's having his commercial applications exam the next day and your video really helped me understand the concept
HI, The desired markup is set by the company. So if you want to get a markup of 25% then you would use that 25% to calculate what the price would be. So markup is not the outcome. It is the input which will give us the outcome of the price that we should set. I hope this clarifies. Please let me know.
HI, companies don't usually calculate the desired profit mathematically. They might use their objectives to get the desired profit. Based on their pricing strategy they might set a target desired profit. In this example it is 50%. We use the desired profit (set by us) to calculate how much we should charge (which would be the price that consumers will have to pay). Please let me know if this helps. Best regards.
Hi, The 0.3333 is what the company wants to get for profit. This is set by the company. So if the company wants a 50% markup then we would put 0.5 in the formula to calculate what the price we should be selling at.
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thank you so much and hi sir, I'm a class 10 student who's having his commercial applications exam the next day
and your video really helped me understand the concept
Thank you for your wonderful encouragement. If there are any other marketing topics you want to be covered be sure to let me know.
Excellent content, Professor; thank you!
Glad you liked it!
Do you know professor, you are my fav private tutor.
Thank you...
Sir how do you get 0.333% on the desired markup i dont understand that part what is the formula for that one?
HI, The desired markup is set by the company. So if you want to get a markup of 25% then you would use that 25% to calculate what the price would be. So markup is not the outcome. It is the input which will give us the outcome of the price that we should set. I hope this clarifies. Please let me know.
@@MKTG101 I got it now sir, thank you.
How to calculate desired profit sir
HI, companies don't usually calculate the desired profit mathematically. They might use their objectives to get the desired profit. Based on their pricing strategy they might set a target desired profit. In this example it is 50%. We use the desired profit (set by us) to calculate how much we should charge (which would be the price that consumers will have to pay). Please let me know if this helps. Best regards.
@@MKTG101 tq sir
How it came 0.3333
Hi, The 0.3333 is what the company wants to get for profit. This is set by the company. So if the company wants a 50% markup then we would put 0.5 in the formula to calculate what the price we should be selling at.
@@MKTG101 tq professor
@@MKTG101 sir why we should put 0.5 if 50% is companies markup can u explain logically sir please
Sir we should make 50/100 naa to get 0.5