recommended resale price

recommended resale price

the stipulation by a manufacturer of a ‘suggested’ retail selling PRICE for his product. Suppliers have no powers legally to enforce such prices and the actual prices paid by consumers are usually much lower than those recommended, depending on the intensity of price competition between retailers. Retailers find the recommended price' tag a useful benchmark on which to base special offers and clearance sale prices. See RESALE PRICE MAINTENANCE, PRICE MARKING (BARGAIN OFFERS) ORDER 1979.
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