"Fixed" and "growth" aren't the only mindsets out there. A Kellogg marketing professor explains the surprising ways that our mental states can influence what we buy
If you’re a marketer worth your salt, you’ve probably thought deeply about your customers’ needs and desires. But when’s the last time you considered their mindset?
A mindset is a mental state that affects how we interpret and respond to things in our environment. You may have heard of mindsets in the context of education or career development. People with a “fixed” mindset tend to see abilities as set in stone: predetermined, perhaps by genetics. If you’re bad at math or public speaking, you’ll always be bad, because that’s just how you are. People with a “growth” mindset, on the other hand, tend to see abilities as in flux, influenced by practice or training. With a growth mindset, if you’re bad at math or public speaking, you believe you can improve your skills by taking a course or finding a mentor.
But there are plenty of other, lesser-known mindsets, too. Indeed, research has identified several mindsets that impact purchasing behavior—meaning marketers should take note.
In a recent The Insightful Leader Live webinar, Kellogg marketing professor Angela Lee walked us through some of the mindsets that shape our consumption habits. Here are some highlights from her presentation (or you can watch the entire webinar below).
Having a comparison mindset ups our likelihood of purchasing something. This mindset can be primed by asking consumers to make a number of simple comparisons, like deciding which of two animals is faster. Then, when customers are presented with an array of say, chocolates, they are more amenable to making a purchase. “They have already skipped the step of ‘should I buy chocolate or not?’ They are already in the stage of, ‘Which one should I buy?’” says Lee.
[This article has been republished, with permission, from Kellogg Insight, the faculty research & ideas magazine of Kellogg School of Management at Northwestern University]