This sort of explanatuon would never be possible in todays online world where classes even for MBA is not explained with no writingand just talking.. Good someone has recorded it over video.
I have no words can describe my appreciation for you. I'm 30 years old and I hate to admit that this is the first I watch a math teacher/professor who is REALLY professional. In your short video I learnt what I couldn't learn In couple months because of the unqualified teachers. You have to be proud of yourself. Your words and voice is like a song that can't be forgotten. I wish if I had a teacher like you in my early school, it would've been a lot different. THANK YOU AGAIN ONE MORE TIME. My respect!
Successful people don't become that way overnight, most people you see as a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life...
i literally was on the verge of tears because i absolutely couldn't get my head around this until i found this video, sir can i just say that you have actually made my day! i have an exam tomorrow and i feel a lot better now, those kids are so lucky to have you as a teacher man
I have a question for you. From 7:45 - 8:12 you mentioned that if you have 4 identical products that you would charge the same amount for them, even though you may have paid different amounts for each item. Wouldn't that mean that your margin would be different for each product? In this scenario, how would you handle that if you needed a 35% margin to stay in business? Great video by the way! It was very helpful!
When I was in college, I never understood this but today, I finally understood it in less than 15-minutes... I usually do Based on Cost, now since I am in retail mode, I should be doing it Based on SP... Thank you so much...
Really very understandable presentation. For near about 5 years I was struggling with measurement of Markup and Margin base. Today it is very clear to me . Thanks to the resource person. Very good job.
Great perspective. I agree and am looking at this much in the same way. It is challenging, I am developing a new skill from experience. So, I am dabbling and learning from someone now, I have a "job" that pays the bills and allows me to do things I love to do. But, I tend to entertain the thoughts of changing how I make a living and spending more time trading online.
In my trading reality it is really very different. Markets don't give me what I want. “Wanting and doing are two different things” You can set targets but success is uncertain. I need help to adjust my system of trading, investing with someone proficient.
Exactly why I opted for an advisory, I have a 9 to 5 and can’t keep up with my trades. Jim oddain has been wonderful with my investment at his broker portfolio, In just two months my account has grow over 18k plus with just one referral to my name. His well known for his veteran trading experience. Get involved through wasap line 1(518) 310-7285
Wow thats a good turnout on your account, I need this performance on my account. How does it work, do we pay a monthly retainer to the trader for trading/ percentage of profits/both?
Yeah, it on an agreed percentage to get started with his portfolio trading plan, I rather trust somebody that works instead of trading on my own and losing more funds.
Seriously awsome... I am a young business entrepreneur. I am doing business for last 2 years. I really never kniw what is my margin exactly from products.. Now i am very clear and what price i have to fix it to get correct margin.. Thanks a lot. Teachers are always god.. You are a god... Thank you sir. Very very useful video. Sincerely An Indian
wow! thank you, it's easier to understand everything if u know the logic behind it, I'm always so nervous about forgetting a formula but this takes care of the problem 100%.
I just stumbled upon this video and loooook what I discovered... a concept I always wanted to understand but somehow could not grasp. .. Now I know it for sure.. Thank You
Very well explain! Wish my math teacher would of been like you. So active very well explain. My math teacher wouldn't get up of her chair and she seem like she wanted to get over the topic couldn't even ask a question. More teachers like you would be nice.
Great videos to maximize my understanding of the margin and also happy to know why margin is a more neutral and common word when describing the contributions of sales, instead of markup.
i feel the same as the guy s comment unger mine i watched a few videos made no sense you made it so easy to understand muchas gracias amigo awsome your my math teacher now
Thank you. I have been watching videos and rereading my chapter on this topic for three hours and your video was the only thing that helped me grasp this concept.
As a retailer, my cost isn’t what I paid for the item. It is what I paid for the item to get to my store so cost plus freight,plus any other amt (maybe interest if purchased over time) so those need to be added to cost before I can calculate what I need to sell it for.
Good observation; you are correct. The textbook for this course explained this idea, but I did not mention these things in this particular video. Thanks for thinking about things -- that practice will serve you well :->)
Thank you for your clear explanation! I'm not sure when it is good to apply the mark up base on cost and when it's good to apply the mark up base on selling price, please give me the clue for that. Thank you for your time.
Hi ..thank you for this video it is very helpful. I would like to ask you....Can you tell us more examples on the facts that make a COMPANY BASE THEIR DECISION TO SET PRICES, WHETHER IF IT IS ..Mark up based on COST and based on S.PRICE. You mentioned that manufacturers set their product prices on COST because they know the costs of production...and retailers set prices based on PRICE.....ARE THERE OTHER FACTS TO CONSIDER TO TAKE A DECISION TO SET A PRICE ON Cost or Selling Price?
I understand the math behind the cross-multiplication (re using $300 as 65% of the unknown sale price which is 100%). However, I still do not understand the BUSINESS reasoning behind for this approach. To say simply that it is because retailers' world (re taxes etc) is based on sale price still does not make full sense to me ... because the real margin is the $161 (which is some 54%, ie 461 - 300). It seems like mathematical gymnastics to me. Is this one standard way? Is it used as a safe way for retailers to calculate 'margins' to manage the risk of variable cost prices (like when they source 4 identical items at different cost prices)? ... What happens when another supplier offers $325? Do retailers using this method stay with the 461 knowing that it is padded? ... I thought they would have considered the competition's sale price. Happy for someone to explain. This is all new territory for me. Thanks
Skylightatdusk, thank you for your excellent question. You are right on target regarding considering the competition's sale price. If I know that people will not pay more than $461 and I need 35% margin on selling price, then I must find a supplier who will sell me the item for $300 or less. If I can find no such supplier and I cannot lower my overhead, then I will not carry that item (or I will lose money on it).
This sort of explanatuon would never be possible in todays online world where classes even for MBA is not explained with no writingand just talking.. Good someone has recorded it over video.
I have no words can describe my appreciation for you. I'm 30 years old and I hate to admit that this is the first I watch a math teacher/professor who is REALLY professional. In your short video I learnt what I couldn't learn In couple months because of the unqualified teachers. You have to be proud of yourself. Your words and voice is like a song that can't be forgotten. I wish if I had a teacher like you in my early school, it would've been a lot different.
THANK YOU AGAIN ONE MORE TIME. My respect!
Successful people don't become that way overnight, most people you see as a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life...
Yes you are right
Most people don't invest due to ignorance.
People are scared of investing because of the high rate of scam in the business
Making them to remain poor out Of ignorance
But of a truth they are scammers but real brokers are out there too waiting for investors.
i literally was on the verge of tears because i absolutely couldn't get my head around this until i found this video, sir can i just say that you have actually made my day! i have an exam tomorrow and i feel a lot better now, those kids are so lucky to have you as a teacher man
you may like this even better ruclips.net/video/8N8bvnV3BYI/видео.html
Thank you, every one, for your encouraging words. I am grateful to be of help to you.
intubeman1 thanks for sharing this video! I was yelling out the answers, as I watched 😂
This was awesome!
I have a question for you. From 7:45 - 8:12 you mentioned that if you have 4 identical products that you would charge the same amount for them, even though you may have paid different amounts for each item. Wouldn't that mean that your margin would be different for each product? In this scenario, how would you handle that if you needed a 35% margin to stay in business?
Great video by the way! It was very helpful!
intubeman1 This video is refreshingly helpful! I’m watching in 2019 for my future business endeavor! Thank you for your teaching and style.
Great Explain, thanks for help
Thank you
No amount of praise and appreciation would be enough!! You have explained this so beautifully, thanks, thanks and once again thanks!!!
You literally just broke it all the way down for somebody like me that's not the best at math. You took your time and didn't rush through it. Amazing!
OMG finally someone who gets to the point and breaks everything down. I wish you were my math teacher lol. You are wonderful thank you
This video was extremely helpful....we just opened a business. This vid put a lot into perspective. Thank you
Hi
sir, excellent teaching style that gives 1000% clarity of terms and concepts relevant to the subject.
keep it up.
god bless you sir you are a true teacher and not a information giver
u r true teacher, ur teaching method is so great, easy to understand.
When I was in college, I never understood this but today, I finally understood it in less than 15-minutes... I usually do Based on Cost, now since I am in retail mode, I should be doing it Based on SP... Thank you so much...
Its really a boost to me at the moment coz am just a new entrant to the business world thus I really appreciate it.. Sir u are a Nation Builder.
2023 - and pulling my hair out over this one. And then I found your video. Thank you sooooo much!!
I left this to the accountants of my business because I hated this aspect. Thank you for this!
At over 30 years of age, I finally find someone who explains it so clear that even an idiot would understand.
hooo please
thanks for calling me idiot
Really very understandable presentation. For near about 5 years I was struggling with measurement of Markup and Margin base. Today it is very clear to me . Thanks to the resource person. Very good job.
Great perspective. I agree and am looking at this much in the same way. It is challenging, I am developing a new skill from experience. So, I am dabbling and learning from someone now, I have a "job" that pays the bills and allows me to do things I love to do. But, I tend to entertain the thoughts of changing how I make a living and spending more time trading online.
In my trading reality it is really very different. Markets don't give me what I want. “Wanting and doing are two different things” You can set targets but success is uncertain. I need help to adjust my system of trading, investing with someone proficient.
Exactly why I opted for an advisory, I have a 9 to 5 and can’t keep up with my trades. Jim oddain has been wonderful with my investment at his broker portfolio, In just two months my account has grow over 18k plus with just one referral to my name. His well known for his veteran trading experience. Get involved through wasap line 1(518) 310-7285
Wow thats a good turnout on your account, I need this performance on my account. How does it work, do we pay a monthly retainer to the trader for trading/ percentage of profits/both?
Yeah, it on an agreed percentage to get started with his portfolio trading plan, I rather trust somebody that works instead of trading on my own and losing more funds.
I am glad for your recommendation and advise, I will think about it then reach out to your guide. Thank you Victoria
Sir, you have explained in very detail. Thank you so much.
I trust ppl who write on boards...logic is hard to find. Thanks for this video !
I really love the way you teach with so much clarity ! Super easy to understand.
Years ago had passed and I am still going back to this vid cause I forgot how 😭 Thanks anyway for this treasure!
Awesome, awesome, awesome! Thank you so much. You can’t begin to know my gratitude! 🙏🙏🙏🥰
Seriously awsome... I am a young business entrepreneur. I am doing business for last 2 years. I really never kniw what is my margin exactly from products..
Now i am very clear and what price i have to fix it to get correct margin.. Thanks a lot.
Teachers are always god..
You are a god...
Thank you sir.
Very very useful video.
Sincerely
An Indian
This doesn't help me with a business but this helps with my exams....
Thanks man
Really excellent... need teacher like u. Our school life would hv been best
wow! thank you, it's easier to understand everything if u know the logic behind it, I'm always so nervous about forgetting a formula but this takes care of the problem 100%.
Thanks alot, you are a great lecturer , I am from Somalia and I am very happy for your professional explanations. Thanks
I just stumbled upon this video and loooook what I discovered... a concept I always wanted to understand but somehow could not grasp. .. Now I know it for sure.. Thank You
Thank you whoever uploaded this knowledge.
Thank you so much! No matter how many videos I have watched, I did not get it. But here I GET IT! So Thanks A Million!
thank you for a very clear explanation on how to determine selling price from a given markon/markup based on selling price.
Very well explain! Wish my math teacher would of been like you. So active very well explain. My math teacher wouldn't get up of her chair and she seem like she wanted to get over the topic couldn't even ask a question. More teachers like you would be nice.
Great videos to maximize my understanding of the margin and also happy to know why margin is a more neutral and common word when describing the contributions of sales, instead of markup.
Thank you Sir now I clear....!!!! now I can fix selling price my Restaurant >>> thank you so much
i was confused how someone was calculating the mark-up cost, until you showed mark up based on cost vs selling price. just want to say thank you
Wow.. felt like i am back in my math class at school. Awesome refresher. 👌 thabk you sir.
I feel like I want to become an accountant now this is so interesting. . .your a good teacher 👍
Respect Dear Teacher!
I appreciate this work.
Thanks a lot for such a presentation...
Very nice way to teach, it will never confuse me again, So Thanks
Thank you very much. Excellent teaching. Great explain , SO CLEAR. I salute.
great well done...
it helped me a lot for my new business
please accept my respect and appreciation
Perfect Teacher, I like it , Thank you
Finally a clear explanation! Thank you so much! This will really help with pricing my items. Well done.
i feel the same as the guy s comment unger mine i watched a few videos made no sense you made it so easy to understand muchas gracias amigo awsome your my math teacher now
Thank You Sir for clearing the concept of Mark-up with some practical examples. Very helpful.
After the third viewing ,it makes a lot of sense. Just take a bit to sink in. Great job. thanks.
Thanks for your video. It helps me a lot.
the best explanation I saw so far. Thank you
This has really helped us alot Thanks for the good work done
Great teacher. Thank you sir
Wow I learned good one. Thanks
Thank you. I have been watching videos and rereading my chapter on this topic for three hours and your video was the only thing that helped me grasp this concept.
very informative video doing or starting the business, wow
Great job
Excelente explanation!!
Great concept.Helped a lot in understanding the basic concept of Margin. Thanks a lot for this video.
Nice and simple explanation. it helped me a lot to understand the business. thank you so much
most of the taxes are based on selling price but some businessman do markup . Very nice explanation
Thank you all for your encouraging words. I'm happy that I can be of help :->)
Very impressive math teacher.
Thanks this is very informative! I'm gonna need to know this when running and operating a bar and grill...
Thank you sir for imparting knowledge..you are a very good teacher......me from Malaysia
I feel there is no explanation thatcis better than this... well explained...
Your deserve a big hug from everybody...
Very well profesor. I’d be happy to be in your class. God bless you
Thank you so much. without any lingo, you explained so easy.
As a retailer, my cost isn’t what I paid for the item. It is what I paid for the item to get to my store so cost plus freight,plus any other amt (maybe interest if purchased over time) so those need to be added to cost before I can calculate what I need to sell it for.
Good observation; you are correct.
The textbook for this course explained this idea, but I did not mention these things in this particular video.
Thanks for thinking about things -- that practice will serve you well :->)
Thanks for the clarification; I appreciate your comments.
I really wish you were my professor! You make the problems understandable
It' s easy to understand. That's great!!!
I was cofused at first and I visited here I now understand thanks sir
You have saved my math life. My HERO!!!!!!
Thank you so much for this video Sir 😭 I'm an HR students and I really need to pass my business mathematics for human resources ❣️
Best maths tutor ever
excellent 🧡
Awesome explanation!
Great explanation sir.
great,,thanks for the superb theory ...
sir your way of explaining things is really amazing
clear clarifications and it is helpful, thank you.
What an amazing teacher 👏👏👏
Thank you so much.It was really useful.
Awesome. Thanks sir.
thanks for this lesson mate!! well done
very informative ty so much sir..salute..
Fabulous great concepts..👍
Thank you for your clear explanation! I'm not sure when it is good to apply the mark up base on cost and when it's good to apply the mark up base on selling price, please give me the clue for that. Thank you for your time.
wauuuu great explanation! Thank you!
Damm...I wish you were my teacher...
Hi ..thank you for this video it is very helpful. I would like to ask you....Can you tell us more examples on the facts that make a COMPANY BASE THEIR DECISION TO SET PRICES, WHETHER IF IT IS ..Mark up based on COST and based on S.PRICE. You mentioned that manufacturers set their product prices on COST because they know the costs of production...and retailers set prices based on PRICE.....ARE THERE OTHER FACTS TO CONSIDER TO TAKE A DECISION TO SET A PRICE ON Cost or Selling Price?
Thank youuuuu!!! I was so confused about markup and margin.... Thank you!!!
You deserve to be subscribed. Hats off!
Great
nice teaching sir...love from india
wow this is easy . even me can understand this . thanks . unlike other guy 100 , and 120 , is 16 .37 % i have hard time to understand that .
I understand the math behind the cross-multiplication (re using $300 as 65% of the unknown sale price which is 100%).
However, I still do not understand the BUSINESS reasoning behind for this approach.
To say simply that it is because retailers' world (re taxes etc) is based on sale price still does not make full sense to me ... because the real margin is the $161 (which is some 54%, ie 461 - 300).
It seems like mathematical gymnastics to me. Is this one standard way? Is it used as a safe way for retailers to calculate 'margins' to manage the risk of variable cost prices (like when they source 4 identical items at different cost prices)? ... What happens when another supplier offers $325? Do retailers using this method stay with the 461 knowing that it is padded? ... I thought they would have considered the competition's sale price.
Happy for someone to explain. This is all new territory for me.
Thanks
Skylightatdusk, thank you for your excellent question.
You are right on target regarding considering the competition's sale price. If I know that people will not pay more than $461 and I need 35% margin on selling price, then I must find a supplier who will sell me the item for $300 or less. If I can find no such supplier and I cannot lower my overhead, then I will not carry that item (or I will lose money on it).
Noted with thanks.
Wow no wonder our children, feel they don't need math or they want use it. We have to explain it like this.
Excellent....
Thank you for your kind words.
Good luck with your new business.