Disclosed are multi-purpose alkali-swellable and alkali soluble associative polymers, which are the polymerization product of a monomer mixture comprising: (a) at least one acidic vinyl monomer; (b) at least one nonionic vinyl monomer; (c) a first associative monomer having a first hydrophobic end group; (d) a monomer selected from the group consisting of a second associative monomer having a second hydrophobic end, a semihydrophobic monomer and a combination thereof; and, optionally, (e) one or more crosslinking monomers or chain transfer agents. When monomer (d) is an associative monomer, the first and second hydrophobic end groups of monomers (c) and (d) have significantly different hydrophobic and/or steric character from one another. The multi-purpose associative polymers surprisingly provide desirable Theological and aesthetic properties in aqueous media.