Standardized Pricing

Manufacturer's Suggested Retail Price (MSRP)
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.

Accounting Terms Lexicon

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