Scientists have spent decades creating powerful and detailed descriptions of how people make decisions. Unfortunately, many make contradictory predictions, and are difficult to understand and implement. Ryan Hamilton (Emory University) has developed a practical tool for understanding and applying the science of decision making. The “4 Minds” framework can help marketers identify which area of decision-making science is most likely to apply to their firm, market, and customers. He discusses four customer mindsets (Ideal Point, Market Comparison, Local Comparison, and Image), how each lead to very different customer outcomes and behaviors and how the 4 Minds framework can be applied in segmentation, targeting, positioning, and persuasion in B2C and B2B contexts.
Read the Working Paper.