The Impact Of Consumers' Values And Price Attitude On Life Satisfaction

The objectives of this research are: firstly exploring the changing value orientations of modern China, and secondly, understanding how the changing values influence price perception and life satisfaction of Chinese consumer. We conducted a survey targeted at urban middle-class consumers and college students, and gained 221 pieces of valid questionnaires.The finding suggests that with the rapid development of economy and modernization, changes have come to consumers'value system. China has been considered as a collective society for a long time, in which people are connected with each other, and they treasure tradition, charity and conformity a lot. However, with the economic and political transition of Chinese society, market orientated economy emphasizes personality, and the concept of self-interest and self-achievement has been waken in the minds of urban middle-class consumers, which is explained as individualism in this research. Thus, individualism and collectivism are the dominant values in China.The change of consumer values has impact on price perception and life satisfaction of consumers. It is found that, individualism positively predicts consumers'perception towards positive role of price, while collectivism negatively predicts perception towards positive role of price, but positively predicts negative role of it. In addition, different value orientations (individualism and collectivism) are both positively related with consumers'life satisfaction. At last, the finding suggests that consumers'perception towards positive role of price is positively related with their life satisfaction.