In this part, you will seek to define and describe the four terms listed below.
Strive to answer all questions completely. You will need to submit a minimum of 300 words and will need to consult at least 1 source beyond the course textbook. When submitting, please combine both Part 1 and Part 2 into a single document.
Part 1 (20 points)
In this part, you will seek to define and describe the four terms listed below. In order to successfully respond to this part of the assignment, you will need to expand beyond the textbook definitions providing examples that illustrate their importance in the world of marketing/business.
- Break-even Analysis
- Markup on Cost
- Manufacturer Suggested Retail Price (MSRP)
- Contribution Margin or Gross Margin
Part 2 (30 points)
This part of the assignment can be found in the Marketing Math Supplement on p. 381 of your text. More specifically, the 6 math problems are 10S-1 (a-f). These math problems will allow you to further explore the marketing terms found in Part 1, by addressing pricing challenges that a marketing manager may face.
There are six math problems: p. 381, 1OS-1 (a-f). Each math question is worth up to 5 points. Remember to show your work (This helps to justify your comprehension of the math process.).
