What is the Experience Economy?

Transcription

1 What is the Experience Economy?

2 The Experience Economy What does it mean? The experience economy recognises that In the western world people s material needs are being met and more!

3 So we re looking for more than something to eat a place to sleep general safety

4 And this something more has become a search for experiences Just think in the United States of America there are 307+ million people and 90%+ of households can access electricity But the candle business is worth $2 billion a year! Why? Because candles give us more than just light Think about an intimate dinner for two; an indulgent bath-time soak; a cosy family evening

5 The theory behind the idea that experiences can add value to the products and services of our businesses is called The Experience Economy

6 In the 21 st century, we consume and shop in new ways in different patterns And we expect many of products and services we buy not only to fulfil a function but also to provide us with an experience

7 From commodity to experience

8 Theme parks, tourist attractions etc where the business idea is the experience Todi - a totally new diving concept The first real indoor diving and snorkelling centre in Europe! Dive or snorkel in the safest conditions Discover a thousand fish, rock formations, corals, light tunnels, wrecks and images The most beautiful tropical freshwater diving places brought to your front door

9 Branding where the product has associations beyond the function of the item and gives the user an added experience

10 Storytelling telling the story of the product enhances the buyer s sense of involvement and engagement Everything starts with storytelling and having a good product. Vipp s greatest asset is the fact that we manufacture the original pedal bin used by dentists, hairdressers and doctors. Our job is to retell this story to the end-users. Kasper Egelund, Marketing Director of Vipp.

11 Additional services Bach Flower Remedies hold health and wellbeing related courses in their own center and provide a mobile phone text support line on understanding eating habits

12 Events an activity or event added to the product to give a further experience ECCO Walk for Life is a charity programme developed by ECCO. Our ECCO Walkathon events are an important part of Walk for Life. They are sponsored walks that take place in several cities in Denmark, Germany and Poland. In 2009, ECCO donated more 400,000 euros to Street Kids International, the WWF and various local health projects in Denmark, Poland and Germany.

13 Clubs/Associations where a company invites you to join a network of like-minded people Join the LEGO Club! Exclusive BUILDING STEPS to help you get even more out of your LEGO collection! Thousands of COOL CREATIONS and the power to upload your own models to the Club gallery! An EVENTS calendar packed with all the latest Club Meetings and other special events in your area! FREE LEGO Club Magazines and the LEGO Club newsletter (where available)! Awesome VIDEOS like the LEGO Club Show and other LEGO Club Clips!

14 Retail experience the stores where you can try out the items and spend time talking to experts Got a new Mac? Thinking about getting one? Learn how easy it is to use a Mac at the Getting Started Workshop. We ll show you the basics, including setting up your new Mac, connecting to the web, sending , connecting a printer, and searching and organising files. Apple Store Saturday Workshop

15 Customisation some part of the design or decoration can be determined by the customer The Left Foot Company provides custom footwear for men over the internet. The process begins with a detailed scan of the client s feet. The feet are scanned with help of scan sock and 3D technology. Once the details and measurements of the client s feet are entered into the system, the customer can specify desired shoe design, color, leather type, outsole and lining. The customers signature, name and customer number, are imprinted into the right shoe.

16 Customer generated the business enables the customer to d-i-y From the moment you walk through the door you know that you are in a magical world! You are greeted by a Bear Builder associate who guides you through all the bear making fun!

17 Long term support Image to be added e.g. the toy store in the US which provides learning development plans for your child throughout its growing up

18 The ExBased project is co-financed by the European Commission s Lifelong Learning Programme. Disclaimer: The contents of this document reflect the views of the author. The European Commission is not responsible for any use that may be made thereof.