The recommended retail price is the retail price the manufacturer suggests for a product. This price is also known as manufacturer-suggested retail price (MSRP), list price, sticker price, and suggested retail price (SRP). This is the price the consumer pays for the final product. However,…

What Are Consumers? Consumers are the end users of any product. A consumer is someone who purchases products or services for personal or business use. These consumers directly use goods and services rather than using them for resale purposes. Examples Some of the common examples…

There are two ways to describe wholesale. Wholesale as a product – a product, either partial or complete, when acquired from a manufacturer can be termed as wholesale. Wholesale as a business strategy – wholesale is a practice that involves the mass purchase of goods…

What Are Wholesalers? A wholesaler is a person or a company that buys goods from manufacturers in bulk quantities and supplies them to retailers at a profit. Wholesalers are a crucial part of any product distribution channel. They are the middlemen in the supply chain,…

Manufacturing is a cornerstone of the modern economy, transforming raw materials into the products we use daily.  But what exactly does this process entail, who are the key players, and what roles do they play? Let’s delve into the world of manufacturers to find out….