The phrasal verb 'mark up' is predominantly used in informal speech, often in the context of commerce and business. It refers to the act of increasing the price of an item, typically for resale, so that the seller can achieve a profit margin. This usage is common in discussions about retail, sales strategies, and financial negotiations. In informal settings, "mark up" can be used to describe any situation where a price is raised, sometimes implying an unfair or exaggerated increase. In more formal contexts, particularly within written communication or presentations, specific terms like 'price increase' or 'markup percentage' might be preferred for precision and professionalism. Additionally, 'mark up' can have a more specialized use in editing and publishing, where it refers to the process of annotating documents to indicate revisions or changes needed.
B2
UpperIntermediate
1. To increase the price of an item or product before selling it to customers, often to ensure profit.
The store decided to mark up the new smartphones by 20% due to high demand.
Retailers often mark up prices during holiday sales events.
2. To annotate or make changes to a text or document for editing purposes.
The editor marked up the manuscript with corrections and comments.
In law, lawyers may mark up drafts of contracts before finalizing.