In his article “An Introduction to Theta and Lambda“, Isaac Mostovicz describes two interesting characterizations of behavior that motivate consumers of Luxury goods. He calls his ‘personality types’ Theta and Lambda. Here is an excerpt:
These two personality types differ based on what individuals perceive to be their life goals or purposes. These differences are central to how they then interpret the products they buy.
The typical Theta (Θ) personality seeks affiliation and control as an ultimate life purpose. Because of this, they loom to fit in or contextualise (sic) themselves within a desired group and use socially-derived understandings of product characteristics as a basis for their consumption.
Lambdas (Λ), on the other hand, seek achievement and uniqueness as an ultimate end goal. As a result, they are more likely to interpret products based on their individual responses to the product, how it helps/prevents them to stand out, and how the product benchmarks against their regular consumptive patterns.
While Theta and Lambda are pretty general characterizations, they do typify the need for companies to truly understand who their customers are. You have different types of customers with differing needs and motivations. Developing and understanding your customers “personas” is an important first step in delivering meaningful, differentiated, relevant, and impactful communications to those customers.