What's the difference between margin and markup?

Margin is profit as a percentage of selling price. Markup is profit as a percentage of cost. A 50% margin equals a 100% markup.

How to set the right price?

Consider your costs, competitor pricing, perceived value, target market, and desired profit margin when setting prices.

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What's the difference between margin and markup?: Margin is profit as a percentage of selling price. Markup is profit as a percentage of cost. A 50% margin equals a 100% markup.
How to set the right price?: Consider your costs, competitor pricing, perceived value, target market, and desired profit margin when setting prices.