MRP Full Form | What Does MRP Stand For?

MRP: Maximum Retail Price

MRP Full Form

MRP full form stands for Maximum Retail Price. Maximum Retail Price (MRP) is the calculated price of a manufacturer which is the highest price of a product sold in India and Bangladesh. However, retailers may choose to sell products below MRP.

The MRP differs from systems that use a proposed retail price because the price charged by the manufacturer in these systems is only a recommendation, not enforceable by law.

Brief Explanation

All retail products in India should be marked with MRP. Shops cannot charge MRP to customers. Some stores can take customers to their stores by charging a little more than the MRP. In some remote areas, tourist destinations, and situations where it is difficult to get the product, consumers are often charged MRP illegally.

In April 2015, it was reported that milk sellers in Mumbai were being threatened with a boycott as it was revealed that they were charging more than the MRP and the Maharashtra state government had threatened to intervene.

What Is The Full Form Of MRP?

MRP full form stands for Maximum Retail Price. It is the calculated price of a manufacturer which is the highest price of a product sold in India and Bangladesh. However, retailers may choose to sell products below MRP. All retail products in India should be marked with MRP.

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