Consumer subjective well-being as a core concept in marketing

Even ancient Greek philosophers recognized that happiness is the highest motivation for human behaviour. Hence, it is puzzling that research on purchasing motivations has not attempted to exploit this concept beyond the current extent. One reason for this shortcoming lies in the fact that the concept was practically non-measurable. Another one represents the wide-spread application of the concept of utility, which nowadays is nothing more than an empty shell used in economics and business administration to explain everything but means nothing. This work shows that the well-being experienced as a consequence of a purchase strongly determines brand-loyal behaviour. In addition, the author exemplary for the automobile industry shows which personal goals a consumer pursues and that attainment of these goals is responsible for the well-being experienced. In turn, attainment of goals depends on objective performance criteria of the vehicle and the garages. Thus, the author establishes a connection from objectively measurable performance criteria of a company via resulting purchase-related well-being to brand-loyal behaviour. To account for a high degree of heterogeneity among consumers in the car market, the author segments the market on the basis of the different needs consumers attempt to satisfy by purchasing a car.