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What is a markdown?

What is a markdown? Here are some definitions.

Noun
  1. A reduction in price in order to stimulate sales.
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Examples
All items with less than X inventory turns and have been on store shelves for more than X weeks or where the last markdown is more than X weeks.
You can change the markdown rule for the individual items in the markdown plan.
Second is to integrate the markdown list that has been approved into Retail-1 and have the price changes reflected at store level.
And later, if you want to sell the bond before it matures, there will be a tremendous markdown on its value.
The time period for each price phase is based on the markdown rule you applied to it.
Once you have defined a markdown rule, you can store this in the markdown type.

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