Question
A commodity is a basic good used in commerce that is interchangeable with other goods of the same type. Commodities are most often used as inputs in the production of other goods or services. An experience, on the other hand, is an event or occurrence that leaves an impression on someone. In the context of the Experience Economy, an experience is a distinct economic offering that is as different from services as services are from goods. It involves staging memorable events for customers, and the memory itself becomes the product.
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The Experience Economy isn't just about adding value; it's about transformation. The example of how the Rawlings company transformed baseball is a good way for readers to understand this game-changing concept. For a company that is the exclusive baseball manufacturer to the Major Leagues, the thought of improving upon a seemingly perfect product seems like a waste of time. But Rawlings realized that most of its customers aren't Major League players, they are people who enjoy baseball and a good game of catch.
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