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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
Your first markdown is your cheapest, as they say in the retail business.
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.
Is there an automatic markdown in price if an item hasn't sold in a certain period of time?
And later, if you want to sell the bond before it matures, there will be a tremendous markdown on its value.
You can change the markdown rule for the individual items in the markdown plan.

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