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- Title
A COMPARISON OF PERCEIVED VALUE BETWEEN A PERENTAGE MARKDOWN AND A MONETARY MARKDOWN.
- Authors
Lowry, James r.; Charles, Thomas A.; Lane, Judy A.
- Abstract
Because of the importance of markdowns in driving sales, retailers should have information on whether the promotion of a percentage markdown or a discounted monetary amount will minimize the markdown needed. From a survey of 387 consumers familiar with the products employed as examples, several generalizations emerged about the way in which retailers should express and promote markdowns. For low-priced convenience goods a markdown expressed in percent would minimize the markdown needed. For moderate-priced shopping goods, there is indifference whether a discounted monetary amount or a percentage markdown minimizes the needed markdown. Neither type of markdown offers an advantage over the other. To minimize the markdowns on high-priced specialty goods, retailers should state markdowns in the form of a discounted monetary amount.
- Subjects
MARKDOWNS (Retail industry); RETAIL industry; SPECIAL sales; SALES management; INDUSTRIAL management
- Publication
Marketing Management Journal, 2005, Vol 15, Issue 1, p140
- ISSN
1534-973X
- Publication type
Article