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Sometime during the last 30 years, the service economy emerged as the dominant engine of economic activity. At first, critics who were uncomfortable with the intangible nature of services bemoaned the decline of the goods-based economy, which, thanks to many factors, had increasingly become commoditized. Successful companies, such as Nordstrom, Starbucks, Saturn, and IBM, discovered that the best way to differentiate one product from another--clothes, food, cars, computers--was to add service.
But, according to Joseph Pine and James Gilmore, the bar of economic offerings is being raised again. In The Experience Economy, the authors argue that the service economy is about to be superseded with something that critics will find even more ephemeral (and controversial) than services ever were: experiences. In part because of technology and the increasing expectations of consumers, services today are starting to look like commodities. The authors write that "Those businesses that relegate themselves to the diminishing world of goods and services will be rendered irrelevant. To avoid this fate, you must learn to stage a rich, compelling experience."
Many will find the idea of staging experiences as a requirement for business survival far-fetched. However, the authors make a compelling case, and consider successful companies that are already packaging their offerings as experiences, from Disney to AOL. Far-reaching and thought-provoking, The Experience Economy is for marketing professionals and anyone looking to gain a fresh perspective on what business landscape might look like in the years to come. Recommended.
From The Industry Standard
This book scared the hell out me. The pitch is that consumers are increasing in complexity. They want everything from simple commodities to manufactured goods to what the authors call experiences – immersive, richly textured commercial events. And fast-paced business types better follow or they'll be left in the dust.The patron saint here is Walt Disney: Coffee shops should focus on the coffee experience, the authors suggest, while restaurants need to realize that the music and the ambiance – eatertainment, as the authors label it – are as important as the food.The book is well written and I liked its fanatical conviction. The authors cheerfully acknowledge that even the most sacred experiences can be turned into a fast buck for faster companies. (They point out that many Americans now seek advice not from their priests and religious leaders, but from paid "spiritual coaches.") I'd love to think this is an elaborate spoof on the absurdity of late-state capitalism, but I'm afraid Pine and Gilmore are absolutely serious when they conclude that "The Consumer Is the Product." God help us all.– Michael Parsons
From AudioFile
Goods and services don't have value in themselves; it's how they are experienced by consumers that really counts today. In this program the authors articulate every possible way these performances can be scripted, casted, staged, and experienced. It's an academic, theoretical work, but savvy and clear enough to make sense to most marketing students and sales managers regardless of their sophistication. Psychological studies and stories about well-known companies like Disney are placed throughout the text, along with interesting explanations of why certain products and services are popular. The reading is quick and brings enough emotion into the program to liven up the serious text without clashing with it. T.W. © AudioFile 2001, Portland, Maine-- Copyright © AudioFile, Portland, Maine
National Productivity Review, Winter 1999
"This is a seminal work, a book that presents new ideas--and uses old ideas in new ways--to change the reader's perceptions and expectations."
Fast Company, April 1999
"Pine and Gilmore do make an intriguing case. In particular, they implicitly challenge two ideas that have recently hardened into conventional wisdom: that giving away your product is the path to profit, and that casually clad tech-heads who inhale pizza and who write code until dawn represent the future of work."
Toronto Globe and Mail, May 5, 1999
"A wise, deep, and enlightening book."
Jesse Berst, ZDNet (for Wired), July 1999
"This is a good look at how every business is morphing into show business...just creating a product and waiting for the world to come to your door is not going to cut it."
Technology Review, May-June 1999
"The Experience Economy, with its own well-developed theme and enriching examples, may transform more than a few managers."
Book Description
You are what you charge for. And if you're competing solely on the basis of price, then you've been commoditized, offering little or no true differentiation. What would your customers really value? Better yet, for what would they pay a premium? Experiences. The curtain is about to rise, say Pine & Gilmore, on the Experience Economy, a new economic era in which every business is a stage, and companies must design memorable events for which they charge admission. With The Experience Economy, Pine & Gilmore explore how successful companies-using goods as props and services as the stage-create experiences that engage customers in an inherently personal way. Why does a cup of coffee cost more at a trendy cafe than it does at the corner diner or when brewed at home? It's the value that the experience holds for the individual that determines the worth of the offering and the work of the business. From online communities to airport parking, the authors draw from a rich and varied mix of examples that showcase businesses in the midst of creating engaging experiences for both consumers and corporate customers. The Experience Economy marks the debut of an insightful, highly original, and yet eminently practical approach for companies to script and stage compelling experiences. In doing so, all workers become actors, intentionally creating specific effects for their customers. And it's the experiences they stage that create memorable-and lasting-impressions that ultimately create transformations within individuals. Make no mistake, say Pine & Gilmore: goods and services are no longer enough. Experiences are the foundation for future economic growth, and The Experience Economy is the playbook from which managers can begin to direct new performances.
Download Description
Future economic growth lies in the value of experiences and transformations--good and services are no longer enough. We are on the threshold, say authors Pine and Gilmore, of the Experience Economy, a new economic era in which all businesses must orchestrate memorable events for their customers. The Experience Economy offers a creative, highly original, and yet eminently practical strategy for companies to script and stage the experiences that will transform the value of what they produce. From America Online to Walt Disney, the authors draw from a rich and varied mix of examples that showcase businesses in the midst of creating personal experiences for both consumers and businesses. The authors urge managers to look beyond traditional pricing factors like time and cost, and consider charging for the value of the transformation that an experience offers. Goods and services, say Pine and Gilmore, are no longer enough. Experiences and transformations are the basis for future economic growth, and The Experience Economy is the script from which managers can begin to direct their own transformations.
From the Publisher
Named One of the Top Ten Business Books of 1999 by Management General
From the Back Cover
"Pine & Gilmore confirm our sense of excitement about the Experience Economy and the role experiences play in building stronger, more personal relationships with employees, corporate customers, and consumers. Businesses today must deliver emotional, authentic experiences to build and encourage sustainable growth for survival in the future. Places ready? Curtain going up!" --Marilyn Carlson Nelson, President, CEO, and Vice Chair, Carlson Companies, Inc. "This no-nonsense book tells us why simply delivering great service is no longer a winning strategy. Pine & Gilmore provide practical insights that will help all industries compete in the new Experience Economy." --Alan P. Hald, Cofounder, MicroAge, and MasterEntrepreneur of the Year "Pine & Gilmore capture the essence of today's demanding consumer expectations and provide a creative, step-by-step script to help your organization to meet them. This book is a must read if you want to be 'on stage' in the next millennium." --Frank P. Stanek, President, International Business Development, Universal Studios Recreation Group "As the world cascades toward sameness, every innovative good created or service provided will be copied at the speed of sound. Pine & Gilmore look beyond the traditional business models to provide a blueprint for what happens next: differentiation by experience. They have convinced me that work is theatre and that success comes from creating experiences and pushing the envelope by staging every interaction as a once-in-a lifetime event." --Watts Wacker, Founder, Firstmatter, and Coauthor, The 500-Year Delta: What Happens After What Comes Next "For any business seeking to turn on its customers, The Experience Economy offers surprising, practical insights. Pine & Gilmore provide proven tools for engaging guests--since every consumer's a guest regardless of your business--well into the new millennium." --Roger Dow, Senior Vice President and General Sales Manager, Marriott International, and Coauthor of Turned On: Eight Vital Insights to Energize Your People, Customers, and Profits "A relevant and timely perspective on current and future opportunities in retailing, entertainment, and our American public life. The Experience Economy reflects uncommon common sense." --Kenneth Wong, President, Walt Disney Imagineering
About the Author
B. Joseph Pine II and James H. Gilmore are co-founders of Strategic Horizons LLP. Pine is the author of Mass Customization (HBS Press).
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