recommended retail price

Also found in: Acronyms.

recommended retail price (RRP)

the practice of manufacturers in indicating a resale PRICE for their products. Unlike RESALE PRICE MAINTENANCE, the recommended retail price is seen merely as acting as a ‘reference point’ for retailers in setting their own price. Subject to competitive conditions, the actual price paid by consumers is in most cases much less than the recommended price. See LIST PRICE, COMPETITION POLICY (UK).
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