Conspicuous ConservationPurchasing things to signal that you are a good person. | Conspicuous ConsumptionPurchasing things that signal social status. |
ConsumerismFulfilling all or most human needs by buying things. | Curiosity DriveThe drive to explore and try new things. |
Customer NeedsThe perceived needs that drive a customer to buy things. | EscapismA desire to experience imaginative environments and experiences such as films. |
Impulse BuyingSuddenly buying things without a plan to do so. | Peak ExperiencesExperiences such as travel that consumers may view as deeply meaningful. |
Price SensitivityThe extent to which a consumer cares about price for a particular good. | Product InvolvementEngagement with a product category e.g. a consumer who is obsessed with fashion. |
Snob EffectLuxury consumers that abandon an expensive brand after it is discounted too often. | User IntentWhat a user wants at a point in time. |
Attention EconomicsThe value of a consumers attention. The economic basis for advertising. | Conservation Of EffortConsumers that try to minimize consumption effort with techniques such as always buying the same brand. |
Customer MotivationThe real reason that customers buy something. This may differ from stated reasons. | Customer PerceptionsHow customers perceive things such as products, services, brands, apps and stores. |
Customer PreferencesThings that customers prefer. For example, some customers prefer self-service and others personal attention. | Fear Of Missing OutA desire to participate in that which is new, exciting and popular. |
MaterialismThe view that life is about collecting material things. | Bliss PointThe amount that makes consumers perfectly satisfied e.g. the perfect size for a cookie. |
Perceived RiskHow a customer feels about the risk surrounding a purchase. | Problem RecognitionThe process by which a consumer discovers they have a purchasing need. |
ProsumerConsumers that produce their own goods and services e.g. diy enthusiasts. | Status SeekingA drive to get respect from others. |
Willingness To PayHow much a customer is willing to pay for something they want. | Brand LoyaltyConsumers that regularly purchase the same brand. |
Repeat PurchasesBuying the same product regularly. | Product PreferenceWhen the brand is easily available, the customer will choose it. |
Product InsistenceThe customer will only buy a particular brand or product model and will wait if it’s not available. | OverthinkingConsumers may overthink purchasing decisions such that they waste resources without making much progress. |
Decision fatigueConsumers must make a large number of purchase decisions and may become exhausted by the process whereby they seek shortcuts such as familiar brands. | Path of Least ResistanceA tendency to choose the most convenient thing. |
Personal TasteA customer’s sense of aesthetics, style and quality. | Brand RecognitionConsumers that visually recognize a brand. People buy what they recognize. |
Customer ExperienceThe end-to-end experience of buying and using a product or service. | Buying PowerThe maximum amount a consumer could spend. |
Product DifferentiationThe degree to which consumers see a difference between products. | CommoditiesA product category where consumers see all products as the same. |
Purchase IntentionA consumer who is in the market for a product or service. | Consumer SatisfactionHow a customer feels about a product, service or interaction. |
Purchase RegretFeeling bad after a purchase. | Dissonance-reducing BehaviorSeeking information to try to avoid bad purchases that cause regret. |
Social ProofA tendency to use social information to make decisions. | Word-of-mouthSharing information person to person. |
Reviews and RatingsConsumers that post information to the world about their purchase experiences. | Preference for VarietyConsumers who want to try new things and to have many things to choose from. |
Paradox of ChoiceA situation where people are less happy because they have so many choices. For example, asking customers to choose from 200 variations of the same product such that they become dizzy with decision fatigue. |
