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The Economy

The Economy. EXPERIENCE. Danai Giwa January 22 nd , 2014. WHAT is the experience economy?. The next economy following the agrarian economy, the industrial economy, and the service economy .

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The Economy

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  1. The Economy EXPERIENCE Danai Giwa January 22nd, 2014

  2. WHAT is the experience economy? • The next economy following the agrarian economy, the industrialeconomy, and the service economy. • Products need to create meaning, experience, and some sort of memory for consumers. • The highest-value economic offerings are experiences

  3. WHATare experiences? “From a marketing perspective, experiences are defined as a type of offering that can be added to commodities, goods or services to create a fourth product category that satisfy and extract value from the desire of postmodern consumers” Source: Carù and Cova 2003; Schmitt 1999; Gupta and Vajic 2000; Pine and Gilmore, 1999

  4. WHAT is the experience economy? Popularized by B. Joseph Pine II and James H. Gilmore In their 1999 release The Experience Economy…Work is Theatre & Every Business a Stage

  5. WHAT is the experience economy? http://www.youtube.com/watch?v=70sX4Ghz8Ro

  6. HISTORICAL CONTEXT behind the experience economy “People in the future will be willing to allocate high percentages of their salaries to live amazing experiences” – Alvin Toffler, Future Shock, 1971 “We will aim to analyze how emotional experiences are linked to products and services” –Holbrook and Hirschman, "The Experiential Aspects of Consumption”, 1982 “I argue for the existence of the experience society”– Gerhard Schulze, The Experience Society,1992 Before Pine & Gilmore…

  7. HISTORICAL CONTEXT behind the experience economy • Post-war, the primary producers were transformed into the key consumers by an affluent capitalist society • Full employment, wage increases, and more leisure time impacted consumer desires • Consumers became a key facet of late capitalism • Shift from occupational (class-based) forms of identification to lifestyleassociations

  8. HISTORICAL CONTEXT behind the experience economy Source: Pine and Gilmore, 1998

  9. HISTORICAL CONTEXT behind the experience economy Source: http://management-class.co.uk/images/prod-development-ux-team-plan-2008pptx1.jpg

  10. HISTORICAL CONTEXT behind the experience economy Source: Pine and Gilmore, 1998

  11. FOUR REALMS of an experience Source: Pine and Gilmore, 1998

  12. EXAMPLES of experiences

  13. EXAMPLES of experiences

  14. EXAMPLES of experiences

  15. EXAMPLES of experiences

  16. EXAMPLES of experiences

  17. EXAMPLES of experiences

  18. EXAMPLES of experiences

  19. EXAMPLES of experiences

  20. EXAMPLES of experiences http://www.youtube.com/watch?v=pvdCFYLf_JI

  21. CONCLUSION/QUESTIONS?

  22. SOURCES • Carù and Cova 2003; Schmitt 1999; Gupta and Vajic 2000; Pine and Gilmore, 1999 • Pine, B. Joseph, and James H. Gilmore. The Experience Economy Work Is Theatre & Every Business A Stage. Boston: Harvard Business School Press, 1999. eBook Collection (EBSCOhost). Web. 16 Sept. 2013. • Pine, B. Joseph, and James H. Gilmore. "Welcome to the experience economy." Harvard business review 76 (1998): 97-105. • http://www.youtube.com/watch?v=70sX4Ghz8Ro • http://www.youtube.com/watch?v=pvdCFYLf_JI • http://www.youtube.com/watch?v=jGLJRTlHR9A

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