Indian Journal of Economics and Development
Year : 2017, Volume : 13, Issue : 4 First page : ( 659) Last page : ( 668)
Print ISSN : 2277–5412. Online ISSN : 2322-0430.
Article DOI : 10.5958/2322-0430.2017.00228.1
Developing a Consumer Well-Being Matrix with reference to Materialism and Money Attitude
The study of the concept of consumer well-being has become imperative for developing societies that are being influenced by consumerism. India is one of the nations where consumption has amajor contribution in its development. Materialism and money attitude have been considered as two determining factors of consumer’s well-being. The taxonomy of materialism and money attitude has been prepared and the level of consumer well-being has been determined across the taxonomies. It has been found that extremely materialistic people with an indifferent attitude towards money have lowest consumer well-being and minimally materialistic people with the preferential attitude towards money have the highest consumer well-being. Based on taxonomy, the paper further develops the consumer well-being matrix that highlights the demographic characteristics of people lying in different quadrants of the consumer well-being matrix. It was found that people with highest consumer well-being are males of age 25 years or below working in private sectors. People with lowest consumer well-being are males of 25 to 30 years of age who are selfemployed businessmen.