Macro Measures of Consumer Well-Being (CWB): A Critical Analysis and a Research Agenda

This article reviews the macromarketing literature related to measures of consumer well-being (CWB). Several macro-marketing measures of CWB were identified. The authors analyzed and critiqued the existing measures guided by these questions: (1) Is the CWB measure comprehensive enough to capture the richness of consumer experiences in the marketplace? (2) Is it macro enough to capture not only consumers’ assessment of marketplace experiences but also experts’ assessment of society’s costs and benefits of these marketplace experiences? (3) Is it diagnostic and practical enough to guide the formulation of policies and action programs? The goal of the analysis and critique of the current CWB measures is to help the reader understand how existing measures differ from one another, their strengths and weaknesses, and based on those strengths and weaknesses highlight research gaps and propose a new comprehensive CWB measure that can address the shortcomings of the existing measures.