What is promotional markdown in SAP IS-R - SAP for Retail?

SAP Term: promotional markdown

• Component: IS-R

• Component Name: SAP for Retail

• Description: Retail A reduction in price for a temporary period of time usually as part of a promotional event. Sometimes referred to as "temporary markdown".

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• Key Concepts: 
  Promotional markdown is a pricing strategy used in SAP for Retail (IS-R) to reduce the price of goods for a limited period of time. This type of markdown is used to attract customers and increase sales. It is usually used for seasonal or special events, such as holidays or clearance sales. 
  
  How to use it: 
  In SAP for Retail, promotional markdowns are created in the pricing procedure. The pricing procedure is a set of rules that determine how prices are calculated. To create a promotional markdown, you must first define the conditions that will trigger the markdown. This includes the start and end date, the item or items that will be discounted, and the amount of the discount. Once these conditions are set, the promotional markdown will be applied automatically when the conditions are met. 
  
  Tips & Tricks: 
  When creating promotional markdowns, it is important to consider how they will affect other pricing strategies. For example, if you have a promotional markdown that discounts an item by 10%, it may conflict with other discounts or promotions that are already in place. It is also important to consider how long the promotional markdown should last; too short and customers may not have enough time to take advantage of it, while too long may lead to decreased sales after the promotion has ended. 
  
  Related Information: 
  For more information on promotional markdowns in SAP for Retail, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/IS-R_SAP_FOR_RETAIL/7.0/en-US/f3d8f9a2b6c14e8a9f3d7c2b5f9a4d1e.html