MRP means Maximum Retail Price. It is the maximum price at which a seller may sell a product to a buyer.
The MRP is decided by the producer and covers cost of production, freight, taxes, and dealer margins.
MRP means Maximum Retail Price. It is the maximum price at which a seller may sell a product to a buyer. The MRP is decided by the producer and covers cost of production, freight, taxes, and dealer margins.
Safeguard Consumers: Avoids charging extra and helps prevent people from being overcharged.
Price Transparency: Facilitates consumers in comparing prices and getting a fair deal.
Standardization: Helps have the same price everywhere and at every outlet.
Cost of manufacturing
Cost of packaging
GST and other taxes
Transport and logistics
Margins of the distributor and the retailer
Manufacturer's margin
Yes. Products can be discounted or sold below MRP at the time of sale or offer. But the seller cannot charge beyond the printed MRP according to Indian law.
MRP: Seller's highest ceiling.
Selling Price: The price actually paid by a customer, which may be equal to or less than the MRP.
According to the Legal Metrology Act (India), selling goods above MRP is an offense punishable by law. Customers can lodge complaints with the consumer court or on websites such as National Consumer Helpline.
Assists businesses in managing brand image and retail price strategy
Influences profit margins and market positioning
Contributes to inventory and supply chain management
Always verify the MRP before buying, particularly in establishments such as cinemas, airports, or tourist destinations where overcharging is more probable.