Often refered to as the list price or sticker price, it is the price recommended by a product’s manufacturer for its sale in retail outlets.
This pricing strategy is commonly applied to a variety of products, including automobiles, appliances, and electronics, serving as a benchmark for retailers. The MSRP aims to standardize pricing across different stores, promoting uniformity in how products are valued at the point of sale. However, adherence to MSRP by retailers is not mandatory, allowing them the flexibility to adjust prices based on market conditions or inventory needs. Consumers may find products sold below MSRP, especially during sales promotions or in less favorable economic climates.
