A reduction or deduction (or concession) in the sale price that is extended by a seller to a buyer at the time of sale/ purchase, for multiple reasons, including marketing strategy and market staging a reaction against competition, etc. In this sense, it is applied as a percentage to the normal list price (e.g., 10%, 20%, 50%), and therefore it cannot be equal to 100%, as in such as case the offered discount becomes a full waiver of the price.
Discount involves reduction of the actual price of a product or service in a bid, for example, to sell more quantities of a given product or service. Discounts are offered to customers across the board without differentiation or application of eligibility criteria.
Discount may also denote the calculation of the discounted value of an amount/ monetary item or a stream of cash flows using a discount rate (by applying the technique of discounting).
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