Whats the difference between mark up and margin?

Mark up is the amount you add to the cost of a product to arrive at its selling price. Margin is the different between the cost of the product and its selling price, so the two amounts are the same. However, the percentage difference is not the same. A product that is bought for $10 may be marked up $4 to sell for $14. The markup is 40 percent of cost. The margin is $4 which is 28.5 percent of selling price. Now it is also possible to have an additional markup of $1 which raises the selling price to $15, and you can also have a markdown of $2 which brings the selling price down to $13. Markups, markdowns and additional markups and markdowns are typically measured in terms of dollars, whereas margin is typically measured in terms of percentage of selling price. Margin on a single product is not as meaningful as overall margin, that is, total revenue less cost of goods sold, converted to a percentage.

MARK UP MEANS AMOUNT EXPECTED FROM SALE IT DEPENDS UPON BARGANING MARGIN MEANS BELOW WHICH NO SELLER WILL SALETHE PRODUCT . IT'S A RESERVATION PRICE MARGIN= COST OF PRODUCTION-SALE PRICE