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20-592: RRP may refer to: Business [ edit ] Recommended retail price Reverse repurchase agreement Medicine [ edit ] Radical retropubic prostatectomy Recurrent respiratory papillomatosis Other uses [ edit ] Rembrandt Research Project Region of Republican Subordination (Russian: Raiony Respublikanskogo Podchineniya ), in Tajikistan Rishi Rich Productions Renovation, Repair and Painting,

40-686: A maximum retail price . In the United Kingdom, the list price is referred to as a recommended retail price or RRP. In 1998, the Secretary of State for Trade and Industry prohibited the placing of RRP on electrical goods under the "Domestic Electrical Goods Order", but this ruling was lifted by the Competition Commission in February 2012. In the United States, the list price is referred to as

60-465: A customer the difference in cost even if the item has already been used. Returns, on the other hand, usually need to be in unused condition. Some retailers have different policies for in-store purchase and online purchases. Many retailers also exclude certain items from price adjustments, price guarantees, or price matching (like items that were on sale to begin with). Price adjustments are also slightly different from price-matching policies. Price matching

80-586: A distributor and seller or between two or more sellers may violate antitrust laws in the United States . In Leegin Creative Leather Prods., Inc. v. PSKS, Inc. , 127 S. Ct. 2705 (2007), the Supreme Court considered whether federal antitrust law established a per se ban on minimum resale price agreements and, instead, allow resale price maintenance agreements to be judged by the rule of reason,

100-526: A purely vertical minimum RPM agreement might be illegal. First, "[a] dominant retailer ... might request resale price maintenance to forestall innovation in distribution that decreases costs. A manufacturer might consider it has little choice but to accommodate the retailer's demands for vertical price restraints if the manufacturer believes it needs access to the retailer's distribution network". Second, "[a] manufacturer with market power... might use resale price maintenance to give retailers an incentive not to sell

120-554: A safety regulation for lead-based paint in the United States Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title RRP . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=RRP&oldid=1159676027 " Category : Disambiguation pages Hidden categories: Short description

140-419: A supplier may specify a maximum price for retail. There is an exception to this where the reseller is engaging in a loss-leading exercise. 'Rack rate' is the travel industry term for the published full price of a hotel room, which the customer would pay by just walking into the hotel off the street and asking for a room. In some jurisdictions, a customer may be entitled to overstay a reservation by paying

160-435: Is different from Wikidata All article disambiguation pages All disambiguation pages Recommended retail price Suggested pricing methods may conflict with competition theory , as they allow prices to be set higher than would be established by supply and demand . Resale price maintenance —fixing prices—goes further than suggesting prices, and is illegal in many countries. Retailers may charge less than

180-505: The MSRP and invoice price. MAP, or Minimum Advertised Price, refers to the lowest price a retailer is allowed to advertise a product for sale. It's a policy that manufacturers or distributors set to maintain brand identity and to ensure that retailers do not advertise or sell their products at excessively low prices, which can lead to several issues such as: brand devaluation, price erosion and unfair competition. Fixed pricing established between

200-401: The United States. Prior to the spread of manufacturer's suggested retail pricing, there were no defined prices on vehicles, and car dealers were able to impose arbitrary markups , often with prices adjusted to what the salesperson thought the prospective purchaser would be willing to pay for a particular vehicle. Currently, the MSRP, or "sticker price", the price of a vehicle as labeled by

220-512: The difference between the price the customer paid and the price now available. For example, if a customer buys a TV for $ 300, and it drops in price by $ 100, they can go back to the retailer to ask for a price adjustment and get the difference returned to them, often in cash. Retailers with price adjustment policies include Macy's , the Gap , and Staples . Price adjustment are not the same as return policies . With price adjustments, retailers will refund

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240-543: The hotel industry in relation to the advertised pricing of hotel rooms. As of April 2011, this was an administrative priority of the OFT. In Australia, any sort of attempt at setting minimum advertised pricing or any retaliation against such a reseller is against the Competition and Consumer Act. It is also illegal for resellers to ask their suppliers to use recommended price lists to stop competitors from discounting. In most cases,

260-474: The item be priced by a retailer. The term "suggested" can be misleading because in many cases, the MSRP is extremely high compared to the actual wholesale cost, opening the market to " deep discounters ", who are able to sell products substantially below the MSRP but still make a profit. The discount stores benefit from exorbitant MSRPs because the discount offered increases the perceived value to customers. A common use for MSRP can be seen in automobile sales in

280-422: The manufacturer's suggested retail price or MSRP. Under earlier US state Fair Trade statutes , the manufacturer was able to impose a fixed price for items. The fixed prices could offer some price protection to small merchants in competition against larger retail organizations. These were determined to be in restraint of trade . Many manufacturers have adopted MSRP, a price at which the manufacturer suggests

300-514: The manufacturer, is clearly labeled on the windows of all new vehicles, on a Monroney sticker , commonly called the "window sticker". The sticker was added as part of the Automobile Information Disclosure Act of 1958. The MSRP is different from the actual price paid to the manufacturer by the dealer, which is known as the " invoice price ". There are now numerous sources, such as online appraisal tools, that can be used to find

320-662: The products of smaller rivals or new entrants." In both of these examples, an economically powerful firm uses the RPM agreement to exclude or raise entry barriers for its competition. In addition, federal law is not the only source of antitrust claims as almost all of the states have their own antitrust laws. In the UK, in September 2010, an investigation was launched by the Office of Fair Trading into breaches of competition law by online travel agents and

340-548: The rack rate. While the rack rate can be lower than the maximum rate that the hotel may be allowed to charge under local laws, it is higher than the rate most travel agents can book for their customers. Sometimes the terms "run of the house" or "walk-up rate" (in Europe usually: "walk-in rate") are used to refer to the same highest rate. The term "rack rate" is also used by travel-related service providers, such as car rental companies or travel mobile phone rental companies, to refer to

360-410: The same highest rate that customers would be charged with no prebookings. Price protection Price adjustments , also called price protection , is a retail practice in which customers can obtain a partial refund of the purchase price of an item if they can show it on sale at a lower price within a fixed time frame. In such circumstances , retailers will do a “price adjustment,” refunding

380-644: The suggested retail price, depending upon the actual wholesale cost of each item, usually purchased in bulk from the manufacturer, or in smaller quantities through a distributor . The suggested price is sometimes unrealistically high, so the seller can appear to be offering a discount. Some retailers apply discount stickers over top of original prices to indicate a discount to consumers. List price often cannot be compared directly internationally as products may differ in detail, sometimes due to different regulations, and list prices may or may not include taxes. India and Bangladesh do not use list prices but instead have

400-585: The usual standard applied to determine if there is a violation of section 1 of the Sherman Act . In holding that vertical price restraints should be judged by the rule of reason , the Court overruled Dr. Miles Medical Co. v. John D. Park & Sons Co. , 220 U.S. 373 (1911). Because the rule of reason applies, minimum RPM agreements may still be unlawful. In fact, in Leegin , the Court identified at least two ways in which

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