BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -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-2: -What Is the Manufacturer’s Suggested Retail Price (MSRP)? The manufacturer’s suggested retail price (MSRP) is the price that a product’s manufacturer recommends it be sold for at the point of sale. Any retail product can have an MSRP, but the term is frequently used with automobiles.

Detailed explanation-3: -The price at which the product is sold to the end customer is called the retail price of the product. Retail price is the summation of the manufacturing cost and all the costs that retailers incur at the time of charging the customer.

Detailed explanation-4: -The retail price is the price set by retailers that’s the final selling price for customers. Wholesale prices are typically much lower than retail prices, because retailers are offered a discount in exchange for agreeing to purchase a large amount of product.

Detailed explanation-5: -The list price is also known as the Manufacturer’s Suggested Retail Price or the MSRP. It is also called the Recommended Retail Price (RRP) or The Suggested Retail Price (SRP) of any product that is available in the market. You must be aware of the MRP or the maximum retail price.