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When having is not enough: implications of being satisfied

When having is not enough: implications of being satisfied Purpose – While having “more” in life seems to have a positive impact on consumers' well‐being, the role of how satisfied consumers need to be with this “more” before it is able to enhance their well‐being is not clear. This study aims to examine an integrated model of the mediating effect of satisfaction on the relationship between objective life circumstances and subjective well‐being. Design/methodology/approach – The new model proposed is tested by using data obtained from British Household Panel Survey. A fixed‐effects econometric model is estimated using Stata 10 to identify the mediating effect of satisfaction with life circumstances on the relationship between life circumstances and well‐being. Findings – The results show that objective circumstances affect well‐being primarily through the mediating effect of satisfaction with corresponding life domains irrespective of the level of objective circumstances. However, this mediating effect varies by life domain and cannot be generalized. Practical implications – The implications for public policy makers are that intervention policies that improve the three life domains of health, leisure and housing will effectively enhance consumers' well‐being. Meanwhile, government should also allocate more resources to increase consumers' positive thinking to help them to improve their well‐being. Originality/value – This is the first study to examine the mediating effect of subjective satisfaction on the effect of objective circumstances on well‐being across six life domains. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png European Journal of Marketing Emerald Publishing

When having is not enough: implications of being satisfied

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Publisher
Emerald Publishing
Copyright
Copyright © 2013 Emerald Group Publishing Limited. All rights reserved.
ISSN
0309-0566
DOI
10.1108/EJM-10-2011-0585
Publisher site
See Article on Publisher Site

Abstract

Purpose – While having “more” in life seems to have a positive impact on consumers' well‐being, the role of how satisfied consumers need to be with this “more” before it is able to enhance their well‐being is not clear. This study aims to examine an integrated model of the mediating effect of satisfaction on the relationship between objective life circumstances and subjective well‐being. Design/methodology/approach – The new model proposed is tested by using data obtained from British Household Panel Survey. A fixed‐effects econometric model is estimated using Stata 10 to identify the mediating effect of satisfaction with life circumstances on the relationship between life circumstances and well‐being. Findings – The results show that objective circumstances affect well‐being primarily through the mediating effect of satisfaction with corresponding life domains irrespective of the level of objective circumstances. However, this mediating effect varies by life domain and cannot be generalized. Practical implications – The implications for public policy makers are that intervention policies that improve the three life domains of health, leisure and housing will effectively enhance consumers' well‐being. Meanwhile, government should also allocate more resources to increase consumers' positive thinking to help them to improve their well‐being. Originality/value – This is the first study to examine the mediating effect of subjective satisfaction on the effect of objective circumstances on well‐being across six life domains.

Journal

European Journal of Marketing – Emerald Publishing

Published: Nov 8, 2013

Keywords: Subjective well‐being; Objective circumstance; Satisfaction with life circumstance; Mediating effect; Customer satisfaction; Consumers

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