In the Magento Difference between Price, Group Price, Special Price, Tier Price, Display Actual Price and Manufacturer's Suggested Retail Price

Question

In the Magento backend product creation section, In the price tab showing different types of price below.

 1. Price,
 2. Group Price,
 3. Special Price,
 4. Tier Price,
 5. Display Actual Price
 6. Manufacturer's Suggested Retail Price

Please tell me the different between above price and how it's will work, and how affect the front-end price showing (Price affecting order) ..?

Thank You ...

Answer 1

1. Price - This is the regular price for a product
2. Group Price - This is the price a group (e.g whole sale) (This will be displayed instead of price)
3. Special price - This is a Promotional price, which can be given a start and end date (This will be displayed below price and price will be crossed out)
4. Tier price - This is quantity based discounts. By 2 for X amount each (This will be shown as Buy 2, save XX%)
5. Display actual price - this is based on if MAP is enabled. Sometimes manufacturers restrict low price products to be displayed in the cart only or checkout page, due to competition clauses. You can select where this is to display.
6. See above for explanation of MAP.