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.
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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
About the Author
B. Joseph Pine II and James H. Gilmore are co-founders of Strategic Horizons LLP. Pine is the author of Mass Customization (HBS Press).
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COMMODITIZED. No company wants that word applied to its goods or services. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
COMMODITIZED. No company wants that word applied to its goods or services. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Most Helpful Customer Reviews
4 of 4 people found the following review helpful
By Mr. J. Buck
VINE™ VOICE
Format:Hardcover
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).
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).
2 of 2 people found the following review helpful
By Rolf Dobelli
TOP 500 REVIEWER
Format:Hardcover
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.
1 of 1 people found the following review helpful
By A Customer
Format:Hardcover
One of the challenges in implementing profound change in an organization is the ability to visualize the end result with crystal clarity, and articulating the outcome desired.
I have been struggling how to articulate "the Disney way" without running into the prejudices against Micky Mouse-ification.
sevice --> experience --> transformation
works for me!
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Most Recent Customer Reviews
5.0 out of 5 stars
Clearly a must have book for anyone in the Hospitality Industry. Great...
This is the seminal Experience Economy book!...
A must have for anyone in the Hospitality and Tourism Industries.
Great case studies and clear graphics and tables. Read more
A must have for anyone in the Hospitality and Tourism Industries.
Great case studies and clear graphics and tables. Read more
Published 4 months ago by Jorge Aníbal Catarino
4.0 out of 5 stars
The original and best
Despite being scoulded for not being specific enough and not defining the world 'experience', Pine and Gilmore does provide you with basic tools for uptimizing your event, your... Read more
Published 6 months ago by asjula
4.0 out of 5 stars
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. Read more
Published on 10 Aug 1999
5.0 out of 5 stars
Business as Performance Art. Yes!
As co-author of the cluetrain manifesto (www.cluetrain.com), I'm often asked by companies how they can implement the ideas we talk about. This book is a great place to start. Read more
Published on 23 July 1999
3.0 out of 5 stars
The Most Disappointing HBS Book I've read in Years
It was painful getting through this book. Partly because of the content, but mainly because of the writing style of the authors. Read more
Published on 12 July 1999
5.0 out of 5 stars
A must-read for CEO's of premium internet portals
Effective implementation of "experience" ideas discussed in this book has the power to transform a company from a mediocore to the best performer. Read more
Published on 3 July 1999
4.0 out of 5 stars
Astute insight but tries too much with too little
The Experience Economy pulls from centuries of thought ranging from psychology to drama and applies them to the modern world of business. Read more
Published on 17 Jun 1999
2.0 out of 5 stars
block that metaphor
I found the book very difficult to absorb. It could be that I am just slow to get it. But I found that the theater metaphor often made it more difficult for me to pick up what... Read more
Published on 9 Jun 1999
5.0 out of 5 stars
A "must read" for carnival and circus producers!
Although not directed specifically at show business, The Experience Economy has broken the code on why carefully staged experiences give today's top circuses, carnivals and... Read more
Published on 28 May 1999
5.0 out of 5 stars
Terrific - very stimulating
This is a very important work addressing the core issue of: What business are we in?, What do we intend to deliver of value to our customers? Read more
Published on 18 May 1999
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