Definition
Markup
Profit expressed as a multiple of COST rather than as a share of price. A 50 percent markup on a 20 dollar cost is 10 dollars, giving a 30 dollar price, which is a 33 percent margin, not 50.
Markup is the easier figure to apply and the more flattering one to quote, which is exactly why it is worth converting to margin before comparing your prices with anyone else's.
Tools that use this term
Profit Margin Calculator
See the difference between a margin and a markup on the same cost, and price from either one deliberately.
Retail Price Calculator
Set a retail price from a wholesale price using a shop multiple, and see the margin that leaves at each end of the chain.
Wholesale Price Calculator
Work backwards from the retail price to the wholesale price a shop needs, and check the profit at both.