MSRP meaning in General ?

tuteeHUB earn credit +10 pts

Answer:

What is Manufactures Suggested Retail Price mean?

The list price, also known as the manufacturer's suggested retail price (MSRP), or the recommended retail price (RRP), or the suggested retail price (SRP) of a product is the price at which the manufacturer recommends that the retailer sell the product. The intention was to help standardize prices among locations. While some shops/stores always sell at, or below, the suggested retail price, others do so only when items are on sale or closeout/clearance.

Suggested pricing methods may conflict with competition theory, as they allow prices to be set higher than would otherwise be the case, potentially negatively affecting consumers. However, resale price maintenance goes further than this and is illegal in many regions.

Much of the time, shops/stores charge less than the suggested retail price, depending upon the actual wholesale cost of each item, usually purchased in bulk from the manufacturer, or in smaller quantities through a distributor.

In certain supply chains, where a manufacturer sells to a wholesale distributor, and the distributor in turn sells to a reseller, the use of SRP is used to denote Suggested Reseller Price. In that case, the list price is used to convey the manufacturer's suggested retail price.

Concepts similar to the list price exist in many countries, but equivalents of the list price often cannot be compared directly internationally since products and services may differ to meet different legal requirements, and price figures communicated to consumers must include taxes and duties (for example) in the EU but not in the US.

India and Bangladesh do not have a list price but instead have a maximum retail price.

reference

Report

Posted on 03 Nov 2024, this text provides information on Miscellaneous in General related to General. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

Take Quiz To Earn Credits!

Turn Your Knowledge into Earnings.

tuteehub_quiz

Write Your Comments or Explanations to Help Others



webstory list tuteehub
Miscellaneous in General
webstory list tuteehub
General Knowledge Mcqs in General
webstory list tuteehub
World Affairs Mcqs in General
webstory list tuteehub
Islamic Studies Mcqs in General
webstory list tuteehub
Economics Mcqs in General
webstory list tuteehub
History Mcqs in General
webstory list tuteehub
Pedagogy Mcqs in General
webstory list tuteehub
Miscellaneous in General


Ever curious about what that abbreviation stands for? fullforms has got them all listed out for you to explore. Simply,Choose a subject/topic and get started on a self-paced learning journey in a world of fullforms.

open app imageOPEN APP