Michael Aaron Flicker

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

intentionally scarce by taking it off the menu for almost 10 months of the year.

They create this sense that if you want it, you got to get it now.

And that then helps reinforce the change of season and the nostalgia that you feel.

Foreign branding has been used by lots of brands, even when it's not where they're really from.

Take Superdry.

Superdry, very popular clothing brand, uses Japanese-style lettering, but it's actually from the United Kingdom.

Or

The word or the brand Atari was the word in Japanese to mean to hit for a target, but it was actually made in Sunnyvale, California.

So even Starbucks, which we talked about, by the way, uses lots of Italian sounding names, Espresso, Macchiato, Americano, but even Venti, you know, Grande, Trenta.

These are all meant to imply Italian brands.

lineage, even though they're not Italian.

But what's so interesting about us as humans is that just the use of the word Trent Day, just the use of the word Atari implies so much.

So two academics, Elizabeth Loftus and John Palmer, 1974, are really interested if they can show the impact of a single word on how we feel.