Refers to the practice of further increasing the retail price of merchandise, often executed during holiday periods or times of peak demand to maximize profits.
In retail, the price regularly quoted to customers before applying discounts. List prices are usually the prices printed on dealer lists, invoices, price tags, catalogs, or dealer purchase orders.
The manufacturer's suggested retail price (MSRP) is the price at which a product maker recommends that a retailer sell the item to consumers. This pricing strategy aids in industry-standard pricing and maintains brand value.
The Manufacturer's Suggested Retail Price (MSRP) is the price that a product's producer recommends it be sold for in retail stores. The MSRP is not mandatory, meaning sellers can choose to sell the product at prices above or below the MSRP, but it is a common practice for ensuring standardized pricing across different retail locations.
A markdown refers to a reduction in the original retail selling price of merchandise. It applies only when the price is dropped below the original selling price established by adding a markup percentage to the cost of the merchandise.
Markup is a critical concept in marketing and retail, signifying the determination of a retail selling price based on a percentage increase over the wholesale cost. It can also refer to instructions for typesetters in the printing industry.
Odd-value pricing involves setting retail prices just below even dollar amounts, such as $5.99, $0.39, and $98.99, aiming to create a psychological impression of a better deal.
A retail pricing strategy to attract customers either with a high price image, strong personal service, and merchandise quality or by underbidding the competition in the case of below-the-market pricing.
Street price refers to the average or usual price charged for a product, particularly when it is rarely sold at the manufacturer's suggested retail price (MSRP). It frequently appears in consumer electronics reviews, especially for products like personal computers and peripherals.
