Product Description

You are what you charge for. And if you're competing solely on the basis of price, then you've been commoditized, offering little or no true differentiation. What would your customers really value? Better yet, for what would they pay a premium? Experiences. The curtain is about to rise, say Pine & Gilmore, on the Experience Economy, a new economic era in which every business is a stage, and companies must design memorable events for which they charge admission. With The Experience Economy, Pine & Gilmore explore how successful companies-using goods as props and services as the stage-create experiences that engage customers in an inherently personal way. Why does a cup of coffee cost more at a trendy cafe than it does at the corner diner or when brewed at home? It's the value that the experience holds for the individual that determines the worth of the offering and the work of the business. From online communities to airport parking, the authors draw from a rich and varied mix of examples that showcase businesses in the midst of creating engaging experiences for both consumers and corporate customers. The Experience Economy marks the debut of an insightful, highly original, and yet eminently practical approach for companies to script and stage compelling experiences. In doing so, all workers become actors, intentionally creating specific effects for their customers. And it's the experiences they stage that create memorable-and lasting-impressions that ultimately create transformations within individuals. Make no mistake, say Pine & Gilmore: goods and services are no longer enough. Experiences are the foundation for future economic growth, and The Experience Economy is the playbook from which managers can begin to direct new performances.

Product Details

• Amazon Sales Rank: #9802 in Books
• Published on: 1999-05-01
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 254 pages

Amazon.co.uk Review
Sometime during the last 30 years, the service economy emerged as the dominant engine of economic activity. At first, critics who were uncomfortable with the intangible nature of services bemoaned the decline of the goods-based economy, which, thanks to many factors, had increasingly become commodity-ised. Successful companies, such as Nordstrom, Starbucks, Saturn and IBM discovered that the best way to differentiate one product from another--clothes, food, cars, computers--was to add service.

But, according to Joseph Pine and James Gilmore, the bar of economic offerings is being raised again. In The Experience Economy, the authors argue that the service economy is about to be superseded with something that critics will find even more ephemeral (and controversial) than services ever were: experiences. In part because of technology and the increasing expectations of consumers, services today are starting to look like commodities. The authors write that "Those businesses that relegate themselves to the diminishing world of goods and services will be rendered irrelevant. To avoid this fate, you must learn to stage a rich, compelling experience."

Many will find the idea of staging experiences as a requirement for business survival far-fetched. However, the authors make a compelling case, and consider successful companies that are already packaging their offerings as experiences, from Disney to AOL. Far-reaching and thought- provoking, The Experience Economy is for marketing professionals and anyone looking to gain a fresh perspective on what business landscape might look like in the years to come. Recommended. --Harry C. Edwards, Amazon.com

Review
The premise here is simple. In a world where the choice of goods and services is prodigious and growing, influencing affluent consumers means offering yet more choice. Successful businesses must rise above the commodity nature of their offerings and the commodity attitudes of their customers. Such a view allows a new approach to business, one which makes the new ingredient experience. Ranging from an explanation of why a simple cup of coffee commands a higher price in a trendy cafe than at a more humble establishment to full-blown strategies that turn businesses into 'theatre' and their employees into 'players', this book predicts that experience is the basis for future commercial success. (Kirkus UK)

Synopsis
You are what you charge for. And if you're competing solely on the basis of price, then you've been commoditized, offering little or no true differentiation. What would your customers really value? Better yet, for what would they pay a premium? Experiences. The curtain is about to rise, say Pine and Gilmore, on the 'Experience Economy', a new economic era in which every business is a stage, and companies must design memorable events for which they charge admission. With "The Experience Economy", Pine and Gilmore explore how successful companies - using goods as props and services as the stage - create experiences that engage customers in an inherently personal way. Why does a cup of coffee cost more at a trendy cafe than it does at the corner diner or when brewed at home? It's the value that the experience holds for the individual that determines the worth of the offering and the work of the business. From online communities to airport parking, the authors draw from a rich and varied mix of examples that showcase businesses in the midst of creating engaging experiences for both consumers and corporate customers.

"The Experience Economy" marks the debut of an insightful, highly original, and yet eminently practical approach for companies to script and stage compelling experiences. In doing so, all workers become actors, intentionally creating specific effects for their customers. And it's the experiences they stage that create memorable -and lasting- impressions that ultimately create transformations within individuals. Make no mistake, say Pine and Gilmore: goods and services are no longer enough. Experiences are the foundation for future economic growth, and "The Experience Economy" is the playbook from which managers can begin to direct new performances.

Customer Reviews

Ok for Retail Businesses
Not impressed with this book as there is great emphasis placed on retail businesses. Many examples are drawn from Disney, Hard Rock Cafe and other American stores and doesn't seem to cross over into other industries/markets/services.

I have read both Building Experiences books by Colin Shaw and would highly recommend them both over this. (Also Jan Carlzon's Moments of truth is highly recommended).

How to Sell the Sizzle
Authors B. Joseph Pine II and James H. Gilmore look at the ways that corporations create engaging experiences for their customers to boost sales. They amass examples that confirm the developing trend toward an "Experience Economy." Their premise is that the post-industrial economy has evolved beyond delivering commodities and services, and is now poised to deliver "experiences." These experiences can include everything from a meal at a theme restaurant to a Disneyland vacation. The premise is interesting, but before you hit the trend button, realize that this is not the first time marketers have courted customers with powerful retail experiences. However, it may be the first time sellers have used virtual reality and Hollywood-style animated props. This intellectually interesting book dares to be far out and to pursue the concept of engaging customers to its extremes. We recommend this book to business owners or marketers more as a theoretical introduction to the "Experience Economy" than as a marketing manual. If you feel intrigued and engaged, that's the point. For more information, please refer to Disney World.

A useful consideration of what we intuitively know
This is well crafted book and provides several examples to illustrate the points made. The book tends to sag towards the final three chapters. There are numerous messages one comes away. Highly recommended for business students and practitioners, specially in light of the new 'digital economy' taking shape.