Welcome to the Experience Economy
Service Economy: goods are commoditized only care about price. Internet pushes down prices because of ease of comparing prices coffee industry innovation is through experience true distinctive experience has to be memorable services: people are looking for time well saved and you have to provide time well spent competing for time, attention, and money time is limited, attention is scarce, money is consumable the experience is the marketing combine a great product with great experiences online experience become hubs The next competitive battleground is staging experience Experience is not a construct it is as real as offering a service An experience occurs when a company intentionally uses services as the stage, and goods as props, to engage individual customers in a way that creates a memorable event Commodities are fungible, goods tangible, services intangible and experiences memorable ...