mark up
Definition
- Verb:
- To increase the price of something, especially by adding a percentage to the cost price to determine the selling price: This is the primary commercial meaning, referring to the practice of setting a retail price higher than the cost to create profit.
Usage
- The verb "mark up" is typically used in business, retail, and finance contexts. It is often followed by a direct object (the item being priced) and can be used in passive constructions.
- It describes the action a seller (e.g., a retailer, wholesaler) takes to set a selling price.
Examples
- Verb:
- The bookstore will mark up the new novels by 40% to cover their operating costs.
- These imported goods are heavily marked up by the time they reach the consumer.
- How much did you mark up the original cost to arrive at this price?
Advanced Usage
- "to be marked up": Describes the state of an item having an increased price.
- The designer handbags are always significantly marked up.
- Used in noun form as "markup" (one word): The amount or percentage by which something is marked up.
- The standard markup on electronics is quite low due to competition.
Variants and Related Words
- Markup (n): The amount added to the cost price to establish the selling price.
- The company uses a 50% markup on all its products.
- Mark down (v): The opposite action; to reduce the price of something.
Synonyms
- Increase the price
- Add a surcharge
- Price up (less common)
Related Phrasal Verbs
- Mark down: To reduce the price of an item.
- The store will mark down the winter clothing at the end of the season.
Related Idioms
- : Refers to the size of the price increase relative to cost.
- Jewelry stores typically have a very high markup.
Verb
-
increase the price of
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