The Experience Economy affects the value of a product or service by transforming it. It's not just about adding value, but about creating a transformational experience for the customer. For instance, Rawlings, the exclusive baseball manufacturer to the Major Leagues, realized that most of its customers are people who enjoy baseball and a good game of catch. So, they focused on improving the experience of these customers, thereby adding value to their product.
By customizing each part of a customer experience, a product or service increases in value. Using ke...
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