what are the pros and cons of markups and markdowns?
Markup is the difference between what a product costs you, the retailer, and what you sell it for to a customer. It is also known as gross margin, or gross profit in a financial statement. Markdowns are reductions from the original selling price. [ The pros of mark downs are that the consumer will think she is getting a better deal and will be more likely to buy the product. The con is that
you won' make as much money. The con of markups is that fewer people will buy the product the more expensive it becomes. Thanks!
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