BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS MATHEMATICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The common terms for the price which the manufacturer suggests an item be sold to the consumer EXCEPT:
A
Suggested Retail Price
B
List Price
C
Catalog Price
D
Net Price
Explanation: 

Detailed explanation-1: -It’s also known as the manufacturer’s suggested retail price (MSRP) or “sticker” price.

Detailed explanation-2: -The Manufacturer Suggested Retail Price (MSRP) is the price that the automaker – the manufacturer – suggests that the dealer ask for the vehicle. It does not have to be the actual price that you pay. Many consumers negotiate to purchase the vehicle for a price below the MSRP.

Detailed explanation-3: -Manufacturer’s suggested retail price (MSRP) is the price that the maker of a product recommends for it in customer-facing retail stores. A MSRP is commonly 2.5 to 3 times a wholesale price. Typically, retail establishments set their list price at or below the MSRP.

Detailed explanation-4: -While the list price is the maximum price at which a product can be sold, the net price is the price at which the customer buys it.

Detailed explanation-5: -What is Net Price? Net price is defined as the actual price the buyer will pay following any discount or promotion. In most cases, few products will sell for the list price. Instead, they’ll sell for the net price-taking into account price reductions for wholesale channels, sales promotions, and other deals.

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