What is a buyer's emotional response to perceptions of risk or loss after purchase called?

The term that describes a buyer's emotional response to perceptions of risk or loss after making a purchase is cognitive dissonance. This psychological phenomenon occurs when an individual experiences feelings of discomfort or tension due to conflicting thoughts, beliefs, or attitudes regarding their decision, particularly if they sense that they may have made a mistake or could have made a better choice.

Cognitive dissonance typically arises after a purchase when a consumer reflects on their decision and may begin to question whether the product or service will meet their expectations or if they overpaid compared to alternatives. This internal conflict can lead to feelings of regret and doubt, prompting the consumer to seek justifications for their choice or to abandon their purchase altogether. Understanding this concept is essential for marketers, as it underscores the importance of ensuring customer satisfaction and positively reinforcing their purchasing decisions to mitigate feelings of discontent.