Which of the following best describes a markdown in retail?

A markdown in retail refers to a temporary price reduction applied to a product to stimulate sales or clear inventory. This adjustment is often made in response to factors such as changes in demand, seasonal shifts, or to encourage customer interest in a particular item. By reducing the price temporarily, retailers aim to attract more customers and increase sales volume without permanently altering the item's pricing structure.

The other options describe different concepts related to pricing in retail. The initial price refers to the original pricing before any considerations of discounts or adjustments. The selling price is simply the price at which a customer purchases an item, while the final price after all discounts would include any markdowns but also may involve other elements like additional promotions or taxes. In summary, a markdown is specifically about that strategic and temporary reduction in price intended to boost sales.