Description
Your business is off to a good start and you are ready to sell some goods. You must decide on your pricing strategy. Choose an item your business will sell and find the selling price of that item online from a competitor’s website. Describe the item and include the URL to the item you are selling in your post. Use an internet search engine to find the average markup percentage on this type of item. For example, search the average markup on lawnmowers. State what percentage you found. Use that markup percentage to calculate the cost and dollar markup of the item. Show all calculations.
How satisfied are you with your markup? Using several sentences discuss what markup strategy you intend to use. Will you stick with the average industry markup or go with something else? Will you calculate all your markups by hand or use a different strategy to calculate?
Explanation & Answer
Please find the attached
Running head: BUSINESS STRATEGY
1
Business Strategy
Name
Institution
BUSINESS STRAREGY
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Business Strategy
The pricing strategy that I will use for my business will be a cost-plus pricing strategy for
my goods. The items that I will be selling at my business will be vacuum cleaners. The reason
behind the selection of the above item is how it is a necessity in almost all households in their
cleanin...
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