In Scimatics were doing a project that includes markup. Its basically where we are selling a product, for a reasonal price but also getting profit from it. This has sparked questions about where is products and clothing we use daily made? How much of a markup is there? And what’s a fair way to make cheap sales? We watched a movie called “Made in Bangladesh” which showed some conditions of where clothing is made. This also create a conversation about how is us as a class selling products, different from people/brands making clothing in Bangladesh? So, thats what this going to be about.
First of all, the product im selling is gum, which is made in a safe factory. Obviously even though is a factory, not a sweat shop, there is people working there for example, controlling the machines. Unlike the people in Bangladesh, there treated with respect and usually paid usually there countries mininium wage, or more. Also, my groups goal isn’t to get as much money as we can, without caring how we get there unlike company’s shown in the movie like Joe fresh, Walmart, H&M, etc. Those types of fast fashion company’s, just want as much money as they can without caring about how they get there. Even it means the factory not being safe, and paying the workers hardly any money.
My group is aiming to get around 50-100$ to donate to charity. Its not much, but its something. Our game plan is to buy gum for around 1.00 each, and sell for around 2.50 (150% markup) so our profit can be 50 cents. We will need to pay back the price of buying it, (1.00) while getting profit, and the price being reasonable. Anyways, after watching that movie has definitely changed my view on the fast fashion industry.