Definition : Recommended retail price

The recommended retail price, also known as the RRP, is the suggested price at which a manufacturer or distributor recommends a product be sold to consumers. This price is typically determined by taking into account factors such as production costs, market demand, and competition. While retailers are not obligated to follow the RRP, it serves as a benchmark for pricing and helps maintain consistency across different retailers. The RRP can also be used as a reference point for consumers to compare prices and make informed purchasing decisions. Ultimately, the recommended retail price serves as a guide for both retailers and consumers in the buying and selling of products.

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