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Brand Manager

Real-Life Activities

Real-Life Math -- Solution

You need to figure out how much to charge for your company's new shampoo.

$2.40 cost to make x 0.30 profit = $0.72
$0.72 profit + $2.40 cost = $3.12 price (less than $4 = room for a premium)

$3.12 price x 0.10 premium = $0.31
$3.12 price + $0.31 premium = $3.43 new price (round up to $3.50)

The price should be $3.50, including an added premium.

Problem solving should be a large part of a brand manager's math skill sets. "More than anything, you use problem-solving skills," says brand manager Esi Eggleston.

"There's basic math, like arithmetic, fractions and that sort of thing. But more than anything, math sharpens your ability to solve problems. I mostly use math for solving business problems. It might be more logical than numerical, but a knowledge of math definitely improves your logic."