Marketing For Life In The Economic Recession Time

Abstract

One of the roles marketing contributes to the society is to improve the consumer well-being through the acquisition and possession of economic goods. This study attempts to investigate this role when subjective well-being or life satisfaction is considered in the difficult time of economic recession. From the part-whole perspective, life satisfaction can be broken down into satisfaction with thirteen domains of life. The multiple regression is run in order to determine the relationship between the satisfaction with these thirteen domains of life as well as household income and overall life satisfaction. The results suggest that consumer well-being in terms of satisfaction with material possession has a positive impact on life satisfaction along with satisfaction with work, self, family, personal health and the objective indicator of economic well-being which is household income.