ALEC DALTON
  • Services
  • Blog
  • Books
  • Bio

EXPERIENCE EXPERIMENTS

Studies in Service Science

Welcome to the Experience Economy

3/9/2015

 
Experiences are the highest form of economic progress, and service-based businesses seeking competitive advantage need to transcend their already-customized offerings through advanced personalization. That, at least, is the theory developed by scholars B. Joseph Pine II and James H. Gilmore in their 1998 Harvard Business Review article “Welcome to the Experience Economy” and in their bestselling book The Experience Economy.

The experience economy resulted from historical economic progressions stemming from value-addition in the marketplace:  the agrarian economy that followed hunting and gathering was itself followed by the industrial economy and, in turn, by the service economy.  Today, the service economy (based on the delivery of custom and intangible benefits to clients) precipitates the experience economy, which derives its value from the mass-personalized and staged experiences that produce temporal emotional responses (“sensations”) and memories for guests.

Enjoy this classic TED Talk from Prof. Joseph Pine as he shares his insight into this popular paradigm shift that underscores the importance of the experience-based enterprises.


Comments are closed.

    RSS Feed

    THEMES

    All
    Experience Technology
    Experience Theory
    Hotels
    Sensory Marketing
    Service Cues & Cultures
    Theme Parks
    The Ritz-Carlton Hotel Company
    Walt Disney Parks & Resorts

    Linkedin
    TWITTER
Powered by Create your own unique website with customizable templates.
  • Services
  • Blog
  • Books
  • Bio