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In 1969, aged 22, Graham Kirkham was married with two children, which he describes as great motivation. [4]Having visited a few manufacturers in his daily work, he decided that making furniture was relatively easy and that by cutting out the warehouse dealers in the middle of the supply chain, he could sell direct to the public at lower prices.
In the early development stage from 1995 to 2000, comparison shopping agents included not only price comparison but also rating and review services for online vendors and products. Altogether, there were three broad categories of comparison shopping services. [9] Later, through mergers and acquisitions, many services were consolidated.
A furniture set consisting of a sofa with two matching chairs [17] is known as a "chesterfield suite" [18] or "living-room suite". [19] In the UK, the word chesterfield was used to refer to any couch in the 1900s. A chesterfield now describes a deep buttoned sofa, usually made from leather, with arms and back of the same height.
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Markup price = (unit cost * markup percentage) Markup price = $450 * 0.12 Markup price = $54 Sales Price = unit cost + markup price. Sales Price= $450 + $54 Sales Price = $504 Ultimately, the $54 markup price is the shop's margin of profit. Cost-plus pricing is common and there are many examples where the margin is transparent to buyers. [4]