Experience economy - Essay Example

competition has become more intense and the variety of products and services increased, customers have too many ‘top choices.’ This has led to the second successful product means ‘not necessary.’ Take Photostats for example. Xerox is the top choice for most of people. In order to differentiate, many companies are moving beyond services into experiences. The marketing concepts consider not only products, functions and characteristics, but also lives, circumstances, emotions, surprises and touching experiences or stories.

People always like listening stories, therefore the businesses sale products rather than sale stories. If the product has a marvellous story and the customers can engage in it, the consumer process can become a period of experience- memorable experience. For example, Pizza Hut offers more than a meal; it will host your childs birthday party, complete with a candle lit cake and entertaining activities. And Walt Disney with their Disney Parks is the recognized expert in offering experiences.

The workers are called actors, you the visitor are the guests and the theme park becomes the stage. Pine and Gilmore consider that experiences are a different contribution from services. Experiences must provide customers with a happy and vivid memory that will persist for a long time. In order to achieve this goal, the customers must be introduced to the offering in a way that they feel a sensation and which enables them to fully participate. This requires extremely skilled actors who can vitally personalize each event according to the needs, the response and the behavioural characteristics of the customers.

Pine and Gilmore point out that providing an experience requires a new operational insight. Businesses typically see themselves as manufacturers and service suppliers. Those companies that want to offer their customers an experience need to see themselves as players of events. Like any theatrical event, there needs to be a design