importance of maximum retail price ??
Answers
It is essential for the consumers to know the difference between the maximum retail price and actual price of the goods. The maximum retail price is inclusive of all taxes and a retailer can sell at a price below the MRP. In fact consumers should always look for retailers who sell below the MRP because the MRP is the maximum retail price allowed for that commodity and not the actual price and a retailer can well reduce his margin built into the MRP. While on the other hand, the actual price could be about 10-15 per cent lower than the MRP. Sometimes the printed MRP is so high that the difference between the selling price and the MRP can be as much as 30-50 per cent. It is an offence to sell at a price higher than the marked price. Whereas the actual price could be about 10-15 per cent lower than the MRP.
HeY mate here is your answer
A maximum retail price (MRP) is a manufacturer calculated price that is the highest price that can be charged for a product sold in India and Bangladesh. However, retailers may choose to sell products for less than the MRP.