_______________________is the difference between the cost price ...

[pane00]

___________________ ____is the difference between the cost price and the retail price of merchandise; it may be expressed in dollars or as a percent.
 
  Fill in the blank(s) with correct word

Question 2

Explain the difference between a business model and a business strategy.
 
  What will be an ideal response?

[kaylee05]

Answer to Question 1

Markup

Answer to Question 2

The business model and business strategy overlap and share the goal of earning a profit. A
business cannot have one without the other. For this purpose, an explanation of a business
strategy is just as important as the selection of a business model. A business strategy is
concerned with competing in the marketplace. The business model is simply how a merchant
makes money. The business model explains the functions of the business such as the day-to-day
operating strategies, expenses of the business, security policies, procedures of the store, and
merchandising. Scholars define a business model as the economic underpinnings of an
enterprise's strategy (Harvard, 2005, p. xv).