BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A markdown is a reduction from the regular selling price of a product resulting in a lower price. This lower price is called the sale price to distinguish it from the selling price.

Detailed explanation-2: -A price markdown is a deliberate reduction in the selling price of retail merchandise. It is used to increase the velocity (rate of sale) of an article, typically for clearance at the end of a season, or to sell off obsolete merchandise at the end of its life.

Detailed explanation-3: -What does markdown mean in pricing? Markdown pricing is a pricing strategy used by retailers to reduce the price of a product to increase sales and clear out inventory. It is especially important in keeping seasonal products profitable and avoid unnecessary waste and loss.

Detailed explanation-4: -A markdown is a permanent price decrease for a product at the end of its lifecycle (or “seasonality”). Markdowns are used to temporarily increase demand for low-demand products, ideally long enough to sell through all stock. Markdowns are caused by excess inventory at the end of a selling season.

Detailed explanation-5: -3. What is the difference between markup and Markdown? Markup is a notation that is used to annotate text in a document to provide details on the text’s structure or instructions for how it should be displayed. Markdown is a plain text formatting syntax that converts the plain text formatting to HTML."