Michael Aaron Flicker

And it's much more exciting.

to say let's change the tagline or let's change the ad campaign than saying Maxwell House Coffee, good to the last drop, was a great tagline for 40 years.

Let's continue it as your new CMO.

I say let's continue it for its 41st year.

You can imagine the pressure on white collar workers to try to change and innovate.

And I agree with you, Mike.

I don't know if it was because it was any less effective than the day they started.

They might be, yes.

So we're really interested in Starbucks pumpkin spice latte for exactly the reason that, Mike, you just said, which is that there seems to be an incredible emotional attachment to PSL, pumpkin spice latte.

And the question is, why is there such an attachment there?

And what we really, as we looked at it and we thought about it, there's something emotional that happens with this holiday feeling, this time that once a year it comes around that there's going to be holidays and it brings up a sense of happiness.

happiness, a sense of nostalgia.

There's lots of behavioral science academic studies that show that if you can get people to reach into their memory, you can get them to think nostalgically about the past.

they A, have more of a positive view of you, but listen to this, B, they are less price sensitive to you.

So if you can get that nostalgic feeling evoked in people, they will literally spend more money on your brand.

Scarcity is a very powerful human emotion.

And when you feel there's only so much of it, it can drive outsized reaction in your own mind, therefore outsized action in the world.

And so Pumpkin Spice Latte was a winner for Starbucks from the first year they launched it.

It took a lot of courage for them as a brand to turn it off.

you could imagine that if pumpkin spice latte could be bought in may if you could buy it all year you would have to wonder would it be as exciting would it conjure up nostalgia that creates brand affinity and reduces your price sensitivity if it was available all year so by making it