Episode 63 How Hendrick's distinctive use of nostalgia explains their marketing success
In this episode we look at one of the world’s most successful gins: Hendrick’s. We explore three behavioral science principles that explain their growth: distinctiveness, consistency and nostalgia. In particular, we look at the experimental evidence from psychologists such as Von Restorff, Zajonc and Sedikides.
Episode Highlights
Breaking category norms makes brands more noticeable by leveraging the Von Restorff effect, which shows that distinctiveness increases consumer attention and recall.
A study by Constantine Sedikides found that nostalgic advertising reduces price sensitivity, making consumers more willing to pay a premium for products.
Key takeaways: Distinctiveness drives attention, consistent branding builds preference, and nostalgia can make consumers less price-sensitive.
Resources & Useful Links
See below for additional resources from this week's episode.
Keep Listening
Ep51 - Interview: Seth Stephens-Davidowitz, author of Everybody Lies, on how to uncover hidden consumer motivations
MichaelAaron and Richard sit down with economist and data scientist Seth Stephens-Davidowitz, who reveals why direct questions often don't reveal one's true motivations. They also unpack concepts like the illusion of effort, the curse of knowledge, and how to handle conflicting datasets effectively.
Ep50 - The replication crisis: How to avoid basing your marketing on bogus findings
This episode dives into a concept known as "replication crisis" in behavioral science. We explore how repeated attempts to replicate certain studies have yielded results that challenge or contradict the original findings, calling their validity into question. We highlight some well-known studies to be cautious of and share practical advice on how to ensure the findings you apply are reliable.
