The implications of the Experience Economy for businesses are significant. It suggests that businesses need to focus not just on the products or services they offer, but also on the experiences they provide to their customers. This could involve transforming the way they operate, as in the example of the Rawlings company, which realized that it needed to cater to the experiences of its broader customer base, not just its Major League players. This could mean rethinking product design, marketing strategies, customer service, and more.
By customizing each part of a customer experience, a product or service increases in value. Using ke...
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