# 12.7: Introduction to Price Adjustment Techniques

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## What you’ll learn to do: Examine common price adjustment techniques

Most know of the phrase “never pay retail” but may not understand the mechanics behind how retail prices change over time. A price adjustment is any change to the original price of a product in inventory by a retailer. There are three primary forms of price adjustment: promotion, price protection and markdown. We will explore all three of these price adjustments in this section.