what is rrp price

The RRP price, or Recommended Retail Price, is the price at which a manufacturer or supplier suggests that retailers sell a product. It serves as a guideline to ensure pricing consistency across different sales channels and reflects factors such as production costs, desired profit margins, and market conditions. Retailers can sell the product at or below the RRP, but the RRP helps prevent extreme price undercutting and maintains brand image and profit margins. It is also known as the Manufacturer's Suggested Retail Price (MSRP) or Suggested Retail Price (SRP).