Describe briefly different retail price strategies.

Different retail price strategies are following :-

1. Manufacturer Suggested Retail Price (MSRP)

This pricing strategy is perhaps the most familiar for consumers. The idea behind the Manufacturer Suggested Retail Price (MSRP) is to standardize the prices of products sold across multiple locations, and it is often used for mass-produced items like consumer electronics or household appliances.

2. Keystone pricing

Keystone pricing is essentially doubling the wholesale or production cost of a product to determine the retail price.

This practice actually stems from the MSRP, which, as we mentioned, is generally double the wholesale price.

Related: 15 Key Metrics (KPIs) to Measure Retail Store Performance

3. Bundle pricing

Also known as multiple pricing, bundle pricing is when you sell a group of products for a single price—think three-pack socks or five-pack underwear.

Retailers often prefer bundle pricing because it streamlines their marketing campaigns, as they have to promote a single price instead of __________ _________ ___ __________ _______ _____ ____ __________ ____.
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