Discounting a product when the product does not sell at the original price and an adjustment is necessary, is referred to as _________.

Question

Quizplus · Accepted Answer

Markdown refers to the process of discounting a product when it does not sell at the original price. This is a common strategy used by retailers to clear out inventory and increase sales. Residual markdown refers to a further reduction in price after an initial markdown has been made. Price sensitivity refers to the degree to which consumers are influenced by changes in price, while concession pricing and dispensation pricing are not related to the process of discounting products based on sales performance.

Discounting a Product When the Product Does Not Sell at the Original