The Experience Economy impacts the relationship between businesses and their customers by shifting the focus from simply selling products or services to creating memorable experiences. This transformation allows businesses to connect with their customers on a deeper level, fostering loyalty and enhancing customer satisfaction. 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, instead of just selling baseballs, they focused on enhancing the overall experience of playing baseball.
By customizing each part of a customer experience, a product or service increases in value. Using ke...
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