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 
• commodities, goods, and services are external to the buyer, experiences are inherently personal, existing only in the mind of an individual who has been engaging on an emotional, physical, intellectual, or even spiritual level.
• no two people will have the same experience 
• Charging for staged events would require more engaging events for products that's why there is no charge for the ambiance and experience of a store 
• For realms of an experience 
• Absorption 
• Immersion 
• Passive participation 
• Active participation 
• Harmonize impressions with positive cues 
• Affirm the nature of the experience of the guest 
• Must support the theme and nine should be inconsistent with it 
• Inconsistent visual or auroral ques can leave a customer lost
• Experience stagers must eliminate anything that diminishes, contradicts, or distracts from the theme 
• mix in memorabilia with experiences
• postcards 
• t-shirts
• memorabilia can only be used for highly engaging events
• the more senses an experience engages the more memorable it will be 
• when goods are commoditized people only care about the price 
• move from goods and services to staging experiences 
• need to innovate in experiences 
• using a product should be an experience 
  
• once you experience a product before you buy it you are more likely to buy 
• if you create a great experience you customers will pay 
•  you need to great an amazing, remarkable, and distinctive experience 
• true distinctive experiences have to be memorable 
• experiences are inherently personal 
• experiences are a reaction to events inside of us 
• how to get customers to value the time they spend with you 
• people want time well saved you have to provide time well spent
• you can create experiences over the phone or online it doesn't only have to be in person 
• steps for experiences 
• recruit 
• train 
• create wholistic experience 
• great experiences are predicated on great products 
• when you combine great products with great experiences that's when magic can happen 
• vegas are the experience capital of the world 
• you can do this virtually as well with youtube, Facebook and Instagram, etc.