In the Experience Economy, customer perception plays a crucial role. It's not just about the product or service itself, but how the customer perceives and experiences it. This perception can transform a seemingly ordinary product into something extraordinary. For instance, Rawlings, the exclusive baseball manufacturer to the Major Leagues, realized that most of its customers aren't Major League players, but people who enjoy baseball and a good game of catch. Therefore, they focused on enhancing the experience of these customers, which in turn added value to their product.
By customizing each part of a customer experience, a product or service increases in value. Using ke...
View summary