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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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The time period for each price phase is based on the markdown rule you applied to it.
Nevertheless, I urge fans of police procedurals to look around for a markdown price, since this is a solid mystery series that many will enjoy adding to their collection.
Second is to integrate the markdown list that has been approved into Retail-1 and have the price changes reflected at store level.
For each markdown plan, the list shows the name and number of the plan, the markdown type and rule used, and the starting date.
Is there an automatic markdown in price if an item hasn't sold in a certain period of time?
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.

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