This wrong can be stated in any terms, and is not always one that is widespread. A boycott may be oriented towards shaming offenders rather than punishing them economically, depending on its duration and scope. When long-term and widespread, a boycott is just one of many tactics in moral purchasing.
Instances of the use of boycotts are their use by African Americans during the US civil rights movement; the United Farm Workers union grape and lettuce boycotts; the American boycott of British goods at the time of the American Revolution; the Indian boycott of British goods organized by Mohandas Gandhi; and the Arab League boycott of Israel and companies trading with Israel.
A boycott is normally considered a one-time affair designed to correct an outstanding single wrong. When extended for a long period of time, or as part of an overall program of awareness-raising or reforms to laws or regimes, a boycott is part of moral purchasing, and those economic or political terms are to be preferred.
Most organized consumer boycotts today are focused on long-term change of buying habits, and so fit into part of a larger political program, with many techniques that require a longer structural commitment, e.g. reform to commodity markets, or government commitment to moral purchasing, e.g. the longstanding boycott of South African businesses to protest apartheid. These stretch the meaning of a 'boycott'.
Another form of consumer boycotting is substitution for an equivalent product; for example Mecca Cola.