RECOMMENDED PRICE Meaning and
Definition
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Recommended price refers to the suggested retail price (SRP) or the price that the manufacturer or producer suggests or recommends for a product or service to be sold at retail. It serves as a guideline for retailers and resellers to determine the ideal selling price for the product, and it is often printed or mentioned on the packaging or promotional material.
The recommended price reflects the value or worth that the manufacturer believes the product holds and considers a fair and competitive price point. It takes into account various factors such as manufacturing costs, markup, profit margins, market demand, and competition. The recommended price is not necessarily a fixed price, and retailers may choose to deviate from it by offering discounts or promotions.
For consumers, the recommended price serves as a reference point when comparing prices between different retailers or brands. It can help them make informed purchasing decisions, as it gives an indication of the product's quality and value for money.
However, it's important to note that retailers have the autonomy to sell products at their desired price, which may be higher or lower than the recommended price. In some cases, retailers may sell products at a higher price to increase profit margins, or offer a lower price to attract customers and gain a competitive advantage.
Common Misspellings for RECOMMENDED PRICE
- eecommended price
- decommended price
- fecommended price
- tecommended price
- 5ecommended price
- 4ecommended price
- rwcommended price
- rscommended price
- rdcommended price
- rrcommended price
- r4commended price
- r3commended price
- rexommended price
- revommended price
- refommended price
- redommended price
- recimmended price
- reckmmended price
- reclmmended price
- recpmmended price
Etymology of RECOMMENDED PRICE
The word "recommended price" does not have a specific etymology. "Recommended" comes from the verb "recommend", which originated from the Latin word "recommēndāre", meaning to commend or entrust. "Price" derives from the Latin word "pretium", referring to value or worth. The combination of these two terms implies a suggested or advised monetary value for a product or service. However, the phrase itself does not have a distinct etymology apart from its constituent words.
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