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What (who) is resale price maintenance - definition
Resale price maintenance
PRACTICE WHEREBY A MANUFACTURER AND ITS DISTRIBUTORS AGREE THAT THE DISTRIBUTORS WILL SELL THE MANUFACTURER'S PRODUCT AT CERTAIN PRICES, AT OR ABOVE A PRICE FLOOR OR AT OR BELOW A PRICE CEILING
Fair-Trade Law; Re-sale price maintenance; Price Maintenance; Price maintenance; Retail price maintenance; Retail Price Maintenance
Resale price maintenance (RPM) or, occasionally, retail price maintenance is the practice whereby a manufacturer and its distributors agree that the distributors will sell the manufacturer's product at certain prices (resale price maintenance), at or above a price floor (minimum resale price maintenance) or at or below a price ceiling (maximum resale price maintenance). If a reseller refuses to maintain prices, either openly or covertly (see grey market), the manufacturer may stop doing business with it.
price tag
LABEL DECLARING THE PRICE OF AN ITEM FOR SALE
Price tagging; Pricetags; Price label
also price-tag
(price tags)
1.
If something has a price tag of a particular amount, that is the amount that you must pay in order to buy it. (WRITTEN)
The price tag on the 34-room white Regency mansion is ?17.5 million.
N-COUNT
2.
In a shop, the price tag on an article for sale is a small piece of card or paper which is attached to the article and which has the price written on it.
N-COUNT
price tag
LABEL DECLARING THE PRICE OF AN ITEM FOR SALE
Price tagging; Pricetags; Price label
¦ noun a label showing the price of an item.
?the cost of something.
Examples of use of resale price maintenance
1. He told the justices there is "no doubt that resale price maintenance raises prices to consumers.
2. Resale price maintenance, which restricted by law the ability of shops to discount goods, was abolished in 1'64.
3. Over–the–counter medicines: Until 1''' resale price maintenance allowed drug companies to dictate the prices at which standard remedies were sold.
4. Miles decision is "premised upon the antiquated common–law rule" and that it "squarely conflicts with the modern economic understanding that resale price maintenance agreements can have significant procompetitive effects." Such a free–market economic analysis holds that minimum resale pricing would ensure that retailers would make enough profit to provide better service to customers and promote the manufacturer‘s products.
5. Sir, Martin Samuel is wrong to lay the blame for the decline of small shops entirely on local councillors (Comment, Jan 3). Small shops were doomed as soon as Edward Heath, as Secretary of State for Industry, abolished resale price maintenance in 1'64, a system which had discouraged aggressive discounting.