IPA: /rɪˈspɛktɪv/
KK: /rɪˈspɛktɪv/
Relating to each person or thing separately; specific to each individual or item.
The students received their respective awards at the ceremony.
Respective → It is formed from "respec" (from Latin "respectus", meaning regard or consideration) and "-ive" (meaning having the nature of). The word "respective" means having regard to or relating to each individual or thing in a group.
Think of 'regarding' ('respectus') each individual in a group — that's why 'respective' means relating to each one.