Experience Economy

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Experience Economy

  1. 1. Experience Economy Experience is a jewel, and it had need be so, for it is often purchased at an infinite rate. – William Shakespeare
  2. 2. Economic Progress <ul><li>Agrarian </li></ul><ul><li>Industrial </li></ul><ul><li>Service </li></ul><ul><li>Experience </li></ul>
  3. 3. Progression of Economic Value
  4. 4. Economic Distinctions
  5. 5. Features of Experience Economy <ul><li>Experience differs from service as service differs from goods </li></ul><ul><li>Goods commoditized. Service too! </li></ul><ul><li>Experience occurs when using services as stage, goods as props </li></ul><ul><li>Experience exists in mind, others external </li></ul><ul><li>New technology encourage whole new genres of experience – Internet game, web 2.0 (Second Life, etc.) </li></ul>
  6. 6. Features of Experience Economy <ul><li>Not only for consumers, e.g., </li></ul><ul><li>Geek Squad </li></ul><ul><li>Silicon Graphics ’ Visionary Reality Center </li></ul><ul><li>CNet (and others) conference rooms in Second Life </li></ul><ul><li>Nortel’s Executive Briefing Center </li></ul>
  7. 7. Nortel’s Executive Briefing Centers
  8. 8. Nortel’s Executive Briefing Centers
  9. 9. Other EBC <ul><li>Genesys </li></ul><ul><li>Benham – a construction company for EBC! </li></ul>
  10. 10. The Four Realms of Experience <ul><li>Customer Participation </li></ul><ul><li>Connection (environmental relationship) </li></ul>
  11. 11. Key Experience-Design Principles <ul><li>Theme the experience (as the above four realms) </li></ul><ul><li>Harmonize impression with positive cues </li></ul><ul><li>Eliminate negative cues </li></ul><ul><li>Mix with memorabilia, even Geek Squad </li></ul><ul><ul><li>Psychological long tail </li></ul></ul><ul><li>Engage all five senses </li></ul><ul><ul><li>Laozi, “Five tones make people blind???” </li></ul></ul>
  12. 12. Examples <ul><li>Geek Squad </li></ul><ul><li>REI REI REI </li></ul><ul><li>Rainforest Café </li></ul><ul><li>Lego Mindstorms NXT </li></ul>
  13. 13. Successful Experience Offering <ul><li>Distinct economic offering, not only marketing campaign </li></ul><ul><li>Pay attention to every detail </li></ul><ul><li>Beyond indigeneity </li></ul><ul><li>Focus on international customers </li></ul><ul><li>Creativity beyond marketing (e.g., Niketown) </li></ul>

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