Determine and interpret the initial markup percentage

Reference no: EM133610392

Case: Exotik Wines sell vintage and bespoke wines. The store purchases wines from different distributors who buy their products from manufacturers. The marketing manager is trying to calculate a red wine markup price. The forecasts sales for this product is $850,000, operating expenses are $644,000, and $24,000 in reductions. If Exotik Wines establishes a target profit of $68,000:

a) Determine and interpret the Initial markup percentage

b) Determine retail price for a bottle that cost $25

c) Discuss why markups prices vary for the same bottle between a restaurant, a bottle shop, and at a vineyard cellar

Reference no: EM133610392

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