Under a defensive strategic market plan,a particular product generates sales revenue of $32 million at a market share of 15 percent.If the business generates a gross profit of $7 million,calculate the percent margin on sales realized by the business.

Question

Quizplus · Accepted Answer

The percent margin on sales is calculated by dividing the gross profit by the sales revenue and then multiplying by 100. So, $7 million / $32 million * 100 = 21.875%, which rounds to 21.8%.

Under a Defensive Strategic Market Plan,a Particular Product Generates Sales