ABSTRACT
The literature on marketing borrows extensively from the notions of utility and value originating in economics, but a cultural perspective on consumption and market activity is challenging the economic approach to value. Consumption and consumers represent important elements in price-making, both from a more classical managerial view on pricing concerned with interactions between consumers and products/prices, as well as from a broader cultural view on price-making as a multi-stakeholder practice in which consumers can actively participate. Pricing objectives are meant to provide the process of price setting with a sense of direction and purpose. The Low-Active strategy aims for the price-sensitive segments, aggressively promoting competitive prices and consumer savings. The generic 3Cs model of analyzing the pricing situation outlines three areas of analysis: Consumer demand, Costs, and Competition. Company efforts to set a price for a particular product or service can have a strong impact on related products and services that the same company offers.
