adjective. 1  Piled up or carried along by a current: driven snow. 2  Motivated by or having a compulsive quality or need: a driven person. 3  Caused, sustained, or stimulated: an export-driven economic recovery. 4  Powered, operated, or controlled: a piston-driven airplane; a menu-driven software program.
Markup as a Percentage of Cost or Selling Price. Markup can be expressed as a percentage of cost or of selling price. Consider an item that costs the seller $50 and retails for $100. This is a 100-percent markup over cost, but in terms of the selling price it is only a 50-percent markup. Retailers typically express markup as a percentage of selling price. According to Entrepreneur, the retail term for a 50-percent markup is keystone, sometimes abbreviated as key..
The term gross profit margin refers to the ratio between revenue and gross profit. If the business is said to have a low margin, such as a grocery store, it means that the cost of sales is high in relationship to revenues. 100% markup becomes a 50% margin. With a cost of $1.00 and a 100% markup, the markup is $1.00 and gross revenue is $2.00. The markup is 100% of the cost (markup of $1.00/Cost of $1.00=100%). However, the margin is 50% â the markup divided by gross revenue (markup [or gross profit] of $1.00/Revenue of $2.00=50%).