MSRP, Manufacturer's Suggested Retail Price

The video tutorial discusses the importance of setting the right price for products, focusing on the Manufacturer's Suggested Retail Price (MSRP). It explains how MSRP serves as a guideline for both consumers and retailers, setting expectations for product value. The tutorial also highlights how MSRP can benefit high-volume retailers by allowing them to purchase products at a lower cost, thus increasing their profit margins.

Explain how MSRP can affect profit margins for retailers.

What factors should be considered when setting an MSRP?