Many retailers take a markdown as soon as sales fall off to free up valuable selling space and cash.This concept of retail pricing is referred to as _________.

Question

Quizplus · Accepted Answer

The concept described in the question is related to timing, as retailers take a markdown when sales fall off during a certain period of time. This helps free up valuable selling space and cash for new merchandise. Demand, availability, bargain hunting, and pleasing customers are all relevant concepts in retail pricing, but they do not address the specific scenario described in the question.

Many Retailers Take a Markdown as Soon as Sales Fall