Discount - used as a strategy by outlet stores who offer merchandise at the lowest market prices. Every day low pricing - continuity of pricing that is below regular retails. This method corresponds to the perceived value of the product. A more subjective method that is based the customer's sensitivity to price.
Consumers use price to determine quality when no other information is available.
Optimal shopping experience - when the customer appreciates the atmosphere created by the retailer and does not mind paying a higher price for a purchase. Markdowns - permanent reduction in price. Markdowns may be taken as a result of slow selling or as part of a systematic strategy. Markdowns are usually taken after a determined number of weeks in order to maintain a desired rate of sales. Promotions - a temporary reduction in price used to generate additional sales during peak selling periods.