Topic 2 - Models of Consumer Well-Being

Question 1

posits that consumer well-being is determined by satisfaction with acquisition of consumer goods and services.

Answer 1

THE ACQUISITION MODEL OF
CONSUMER WELL-BEING

Question 2

Four Models of Consumer Well-Being

Answer 2

1. THE ACQUISITION MODEL
2. THE POSSESSION MODEL
3. THE TWO-FACTOR MODEL
4. THE CONSUMPTION PROCESS MODEL

Question 3

(Acquisition Model) For example, Meadow (1983) generated a measure of consumer well-being called

Answer 3

Overall Consumer
Satisfaction-Composite (OCSC).

Question 4

This measure is based on the consumer’s experience with retail institutions in purchasing food, housing, household operations, household furnishings, clothing and accessories, personal care, medical care, recreation, transportation, and education.

Answer 4

Overall Consumer
Satisfaction-Composite (OCSC).

Question 5

Satisfaction that results from the ownership of consumer goods, and we measure this satisfaction
with six single-item indicators that tap satisfaction with major classes of possessions, for example,
house or condominium, consumer electronics, and private transportation.

Answer 5

Possession satisfaction - Possession Model

Question 6

Ownership of certain consumer goods (e.g., car, house, furniture, and household appliances) may contribute significantly to quality of life. Thus, this model should also be included in a comprehensive measure of consumer well-being.

Answer 6

Possession Model of Consumer Well-Being
- Possession Satisfaction

Question 7

Day (1978, 1987) and Leelakulthanit, Day, and Walters (1991) conceptualized the
consumer life domain as having two dimensions:

Answer 7

1. Acquisition
2. Possession of consumer goods and services
   - Two Factor Model

Question 8

refers to experiences related to the purchase of consumer goods and services.

Examples include the assortment, quality, and price of goods available in local stores; the attractiveness of the stores; the
courtesy and helpfulness of store personnel; and after-purchase service
provided by local stores, for example, warranty policies.

Answer 8

Acquisition

• Two Factor Model

Question 9

focuses on experiences related to material
possessions (e.g., house/apartment, furniture, car/truck,clothing/accessories, savings, etc.). Leelakulthanit, Day, and Walters (1991) found a significant relationship between possession satisfaction and life satisfaction, especially for older and low-income people.

Answer 9

Possession of consumer goods and services

• Two Factor Model

Question 10

Leelakulthanit, Day, and Walters (1991) found a significant relationship between possession satisfaction and life satisfaction, especially for older and low-income peopl

Answer 10

True

Question 11

Satisfaction consumers experience when they seek to have a possession repaired or
serviced.

Answer 11

Maintenance Satisfaction

• THE CONSUMPTION PROCESS MODEL OF
  CONSUMER WELL-BEING

Question 12

It was conceptualized maintenance satisfaction as having two major sub
dimensions

Answer 12

1. satisfaction with maintenance and repairs provided by service vendors in the community (i.e., repair services) and
2. satisfaction with services that
   facilitate maintenance and repair by the owners themselves (i.e., do-it-yourself
   support services).

• THE CONSUMPTION PROCESS MODEL OF
  CONSUMER WELL-BEING

Question 13

refers to the degree of satisfaction
consumers feel with the disposability of their products, that is, with the convenience and ease of disposal and the environmental friendliness of the product at the time of disposal.

Answer 13

Disposition satisfaction