Understanding The Meaning of MOP and SRP

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MOP means Market Operating Price, or suggested price of a product. It is the price at which the product is normally sold from the retailer to customers. The main objective of MOP is to help exports and make them competitive on the international market. It also helps in reducing the forex risk for importers as well as exporters. MOP denotes Market Operating Price. It is the price at which a seller is ready to sell his lot. What is SRP-MRP? SRP or Suggested Retail Price denotes the price at which a retailer can charge for a particular product which includes taxes as well. So MRP does not include any taxes or government levies on the product which will be imposed by the state governments. MOP meaning (Market Operating Price) is the actual price that you pay at the retailer’s store while SRP (Suggested Retail Price) is the price that dealers can sell it for and still make a profit.

The Meaning of MOP and SRP

Market Operating Price (MOP) and Suggested Retail Price (SRP) are two different terms used to denote the same thing. The suppliers (MRP=maximum retail price) quoting maximum amount and retailers querying for maximum amount for purchasing a specific product, Market Operated Price (MOP) is actually the final negotiated amount between the two. The final MOP may exceed or fall short of the actual market price as quoted by the market and many factors influence it, mainly the supply-demand scenario at that time.

SRP full form is Suggested Retail Price is a commonly used benchmark to determine the price of an item or service. Used by brands and their authorized re-sellers, the SRP is a general estimate of what the brand feels is appropriate pricing for its unit. The SRP or suggested retail price denotes the price set by the manufacturer for their products. It is the recommended price at which a product should be sold in retail establishments, although the retailer can sell it for less. SRP, or Suggested Retail Price is a benchmark set forth by a brand for the retail price of its products. It is best to introduce SRPs to your customers if they do not already know it, and explain how they are used so that they are not confused when they come across it. SRP represents the price at which a brand is willing to sell their product. It also allows retailers to price the product competitively, maintaining a standardized look for each product line. It provides consumers with an idea of what the most basic model of a specific brand will retail for. SRP is the official acronym for Suggested Retail Price. A brand may set the SRP of their products differently in each category but they must abide by the maximum retail price set by the company they work with.

When it comes to the retail marketing pricing of the said brand’s products, SRPs and MRPs are used for comparison with actual selling prices. While some people use the term MRP to refer to the minimum retail price set by a manufacturer, others interpret Max Retail Price as the latest version of an item while Min Retail Price refers to older versions.

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