stylistic:tone
quality relationship

The last of these five categories, the Veblenian Effect, involves a group of consumers who make purchase decisions based on conspicuous value, as they tend to purchase publicly consumed luxury products. This shows they are likely to make the purchase to show power, status, and wealth. Consumers who exhibit the Snob Effect can be described as individuals who search for perceived unique value, and will purchase exclusive products in order to be the first or very few who has it. They will also avoid purchasing products consumed by a general mass of people, as it is perceived that items in limited supply hold a higher value than items that do not. The Bandwagon Effect explains that consumers who fit into this category make purchasing decisions to fit into a social group, and gain a perceived social value out of purchasing popular products within said social group at premium prices. Research shows that people will often conform to what the majority of the group they are a member of thinks when it comes to the attitude of a product. Paying a premium price for a product can act as a way of gaining acceptance, due to the pressure placed on them by their peers. The Hedonic Effect can be described as a group of people whose purchasing decisions are not affected by the status and exclusivity gained by purchasing a product at a premium, nor are they susceptible to the fear of being left out and peer pressure. Consumers who fit into this category base their purchasing decisions on a perceived emotional value, and gain intangible benefits such as sensory pleasure, aesthetic beauty, and excitement. Consumers of this type have a higher interest in their own well-being.