Sample Economics Creative Writing Paper Summary on Mark-up Percentages

Mark- up Percentages

The mark up percentage refers to a percentage cost added to the cost of a product in order for it to be sold at a profit. While some products have normal mark- up prices, others have high mark- up prices which makes them over priced in the market. Some of the products are discussed herein. The first group of products comprises of champagne and wine. These are luxury products that people purchase regardless of the price. Because of this, significant increase in prices does not affect consumption. The mark- up percentages of these products may be up to 400 percent. By the time the products reach the consumers, they may attract more than double the production costs for the products. Jewelry and diamonds also target the high end market and are significantly expensive.

Since these products are meant to reflect the social status of the consumers, they are bound to be purchased regardless of the price of sale. The mark-up percentage therefore varies between 100 to 1000 percent. Perfumes and beauty products also comprise another group of products with high mark up prices. The increase in the number of designer brands makes consumers willing to pay huge amounts of funds for their cosmetics and beauty products. These products are associated with mar-up percentages of 50 to 100 percent. Branded clothing affiliated with celebrities and renowned designers make the clothing items attract high mark- up percentages. The clothes also indicate the social statuses of the wearers making them instrumental in image development. Because of this, the items attract mark up prices of 100- 500 percent. The luxury items are in most cases unregulated but the prices themselves are signs of their qualities.


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