The Experience Economy
Oct/10/07/02:55 Filed in: Marketing
Pine and
Gilmore have argued that the "experience economy" represents the
current state of economic development in advanced nations: from
"extracting" commodities, to "manufacturing" goods, to "delivering"
services, to "staging" performances.
The following table lists the characteristics of each stage of economic development:
-Offering: Commodities, Goods, Services, Experiences
-Economy: Agrarian, Industrial, Service, Experience
-Function: Extract, Manufacture, Deliver, Stage
-Nature: Fungible, Tangible, Intangible, Memorable
-Attribute: Natural, Standardized, Customized, Personal
-Supply Method: Bulk, Inventoried, On-Demand, Revealed over duration
-Seller: Trader, Manufacturer, Provider, Stager
-Buyer: Market, User, Client, Guest
-Demand: Characteristics, Features, Benefits, Sensations
References:
[1] Doyle, "Marketing Management & Strategy"
[2] Chong, "International Marketing Study Guide -- U.London (External)"
[3] Drucker, "Innovation and Entrepreneurship"
[4] Levitt, "The Industrialization of Service"
[5] Heskett, "The Service Management Wheel"
[6] Pine and Gilmore, "Economic Functions"
The following table lists the characteristics of each stage of economic development:
-Offering: Commodities, Goods, Services, Experiences
-Economy: Agrarian, Industrial, Service, Experience
-Function: Extract, Manufacture, Deliver, Stage
-Nature: Fungible, Tangible, Intangible, Memorable
-Attribute: Natural, Standardized, Customized, Personal
-Supply Method: Bulk, Inventoried, On-Demand, Revealed over duration
-Seller: Trader, Manufacturer, Provider, Stager
-Buyer: Market, User, Client, Guest
-Demand: Characteristics, Features, Benefits, Sensations
References:
[1] Doyle, "Marketing Management & Strategy"
[2] Chong, "International Marketing Study Guide -- U.London (External)"
[3] Drucker, "Innovation and Entrepreneurship"
[4] Levitt, "The Industrialization of Service"
[5] Heskett, "The Service Management Wheel"
[6] Pine and Gilmore, "Economic Functions"