It’s that time of year again, the 1st year marketing classes I’m teaching are learning all about markup and margin math. To help with the basics I’ve posted a video that demonstrates a really cool visual tool that keeps me from mixing up the formulas for markup and margin.
The “MC Chocolate Bar”, (yes, it has been helping students with marketing math since “MC” was popular), was shared with me when I first started teaching at St. Clair College in ON. (Thanks Bob Jershy – you’ve been gone for years but you’re still keeping me, and generations of students to come, straight with markups and margins.)
This little tool is just the “back of the napkin” mnemonic that keeps you making quick and accurate calculations without having to memorize formulas or do a lot of algebra.
The video goes through several examples and problems using the traditional formula/algebra approach, and also using the “MC Chocolate Bar”. I hope you think it is 12 minutes well spent.