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The Experience
Economy, Work is Theatre and Every Business a Stage
This is one of those "must read" books for anyone who is interested in where business is going in the future. The authors make the point that we have moved from the agriculture society to a manufacturing society, to a service economy, and now to the experience economy. Experiences are personal engagements that the customer finds memorable--and they are potentially the most valuable part of your service offering. Gilmore and Pine make the argument that customers will pay for these experiences, and therein lies the economic hook for businesses to transform themselves. Otherwise, the authors maintain, products and services run the risk of becoming commoditized. This is the kind of book that is going to be the first of its type. The authors have by no way fully explained how to create these moments of experience, but they make an excellent case that this is what customers are looking for. So, expect a series of books to come out in the next year explaining how to create experiences for your customers. Since this book came out just a few months ago, it is easy to notice the "experience" economy in the making. Perhaps it was there all the time, but once the notion of the experience economy is in your mind, you can see how organizations are attempting to create these special moments. For example, Safeway stores now do not just water their vegetables. When the hoses start misting the Safeway vegetables, it is accompanied by sounds of thunder and lightening. It's very nice and always noticeable. I can tell you that when I go into other grocery stores, I miss the thunder and lightning. You can guess who is getting most of my food business at the current time. Because of the relatively inexpensive capacity to create experiences in the virtual community, we will probably see this concept developed to its maximum in e-commerce. Pine and Gilmore's web site itself is a joy to behold. The concept of the experience economy will undoubtedly also have a profound impact on advertising. To a large degree this is already happening, but Pine and Gilmore's book will give permission to a lot of business services to take their idea and run with it. It should be quite an experience! Janelle Barlow, President
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