The Experience Economy: Work is Theatre & Every Business a Stage: Goods and Services are No Longer Enough

2002 ◽  
Vol 1 (1) ◽  
pp. 90-92 ◽  
Author(s):  
Deborah Dahlke
Keyword(s):  
Experience Economy ◽  
Goods And Services

scholarly journals BRANDING IN THE MODERN EXPERIENCE ECONOMY

2021 ◽  
Vol 26 (1(86)) ◽  
Author(s):  
Halyna Fyliuk ◽  
Tetiana Lytvynenko
Keyword(s):  
Behavioral Economics ◽  
Positive Emotions ◽  
Experience Economy ◽  
Economic Changes ◽  
Common Values ◽  
Classical Economics ◽  
Goods And Services ◽  
Mechanism Research ◽  
Inner World ◽  
Modern Experience

The paper considers the new concept of branding in the experience economy. Brands develop under the influence of social and economic changes in society. In the meantime, brands influence people's behavior, therefore business has given great attention to branding. Classical economics is based on the assumption of rational behavior of consumers. In fact, people often make purchases based on other, non-rational impulses. Behavioral economics explains consumer actions better because it takes into account more different factors. The mechanism of brand influence on consumer decisions is described in behavioral economics more accurately. It is of great importance for business. Understanding of consumers allows you to predict their behavior. Today people tend to receive impressions other than goods and services. Joseph Pine and James Gilmore suggest using the concept of "experience economy". This allows us to penetrate into the inner world of the consumer and understand his needs even more precisely. The composition of the consumer basket has changed; impressions and experience occupy a significant place and replace services. Under the circumstances, business and consumer communications are changing. The brand plays an increasingly important role in the new system of communications. The brand helps to identify the product, get more information about its benefits and create positive emotions and experiences. The formation of experience is a new function of the brand. To fulfil this new function it is necessary to create a special mechanism of influence on the target audience. This mechanism consists of target customers' information environment, customers' values, tools for influence and management. The study of customer values is an important part of the experience formation mechanism. Research shows that different generations have some common values. However, at the same time, each age group has its own specific values. Branding should take into account both common values and peculiarities of values of different generations. Each particular case requires a specific brand program to influence consumers to form impressions and experience.

scholarly journals Gastronomic tourism

2021 ◽  
Vol 5 (S4) ◽  
Author(s):  
Inna Nesterchuk ◽  
Anzhelika Balabanyts ◽  
Liliia Pivnova ◽  
Viktoriia Matsuka ◽  
Oleksandra Skarha ◽  
...  
Keyword(s):  
Human Resource Development ◽  
Value Chain ◽  
Policy Development ◽  
Modern World ◽  
Service Economy ◽  
Integrated Planning ◽  
Experience Economy ◽  
Goods And Services ◽  
Development Technology ◽  
Tourism Destinations

The article examines the concept and features of gastronomic tourism, its history and its importance in the modern world. It is noted that gastronomic tourism meets all the requirements in the transition from a service economy to an experience economy. The basis of gastronomic tourism is an authentic product identified by territorial characteristics and can attract tourists to the region. The uniqueness of gastro tourism is highlighted as it links such as policy development and integrated planning, product development and packaging, promotion and marketing, distribution and sales, and operations and services in tourism destinations, which are key core activities in the tourism value chain. Ancillary activities related to the gastronomic product include transport and infrastructure, human resource development, technology and systems of other ancillary goods and services, which may not be associated with the leading tourism business but have a significant impact on the value of tourism. The article discusses in detail the strategic plan for the development of gastro-tourism, which includes the following phases: analysis and diagnosis of the situation; general strategic planning; operational planning; informing and disseminating the plan.

How B2B companies create economic value by designing experiences and transformations for their customers

2015 ◽  
Vol 43 (3) ◽  
pp. 2-6 ◽  
Author(s):  
B. Joseph Pine
Keyword(s):  
Value Creation ◽  
Design Methodology ◽  
Economic Value ◽  
Discovery Process ◽  
Experience Economy ◽  
Content Type ◽  
Goods And Services ◽  
Industrial Companies ◽  
Set Up ◽  
Practical Implications

Purpose – This article explains how B2B companies can create economic value by designing experiences and innovations that will be transformative for their customers. Design/methodology/approach – The article shows that B2B goods and services are increasingly marketed in an Experience Economy, an arena where interactions are based on what experiences buyers and their customers value. Findings – The big value creation insight is that industrial companies. like consumer product companies, can create breakthrough innovations by understanding, responding to and transforming the experience of their customers. But with B2B companies the experience discovery process extends to their customers’ customers. Practical implications – Almost any B2B business can be transformative if it aims its innovation efforts at satisfying its customers emerging needs and those of its customers’ customers. These are the aspirational outcomes that transformative companies provide. Originality/value – One of the first articles to show leadership of B2B companies and their marketing and research units how to set up experience demonstrations and development projects that involve their customers in the process of customization, innovation and transformation.

Abiding Issues

2017 ◽  
Author(s):  
Adrian Kuenzler
Keyword(s):  
Economic Theory ◽  
Consumer Welfare ◽  
First Century ◽  
Revealed Preferences ◽  
Historical Overview ◽  
Experience Economy ◽  
Goods And Services ◽  
Present Experience ◽  
External Incentives ◽  
Over Time

A brief historical overview of advertising documents that advertising traditionally performed two different functions: to inform and to persuade. Over time, the law has adopted the view that all advertising is information and, based on this view, has come to preserve the uniqueness, reputation, prestige, and exclusivity that today’s goods and services conjure in consumers’ minds. This chapter discusses three recurrent themes that underlie the function and operation of the current economic system and explores, in particular, how the workings of the present experience economy are justified in legal and economic theory. It is through the operation of these principles (revealed preferences, maximization of consumer welfare, external incentives) that consumer choices are supposed to allocate resources efficiently. It explains the contradictory tensions within those principles and provides the basis for the claim that a twenty-first-century reconceptualization of the consumer may enrich our understanding of what constitutes progress.

scholarly journals Outdoor Advertising

2019 ◽  
Vol 3 (2) ◽  
pp. 21-28
Author(s):  
Bryce Lowery
Keyword(s):  
Quality Of Life ◽  
United States ◽  
The United States ◽  
Urban Life ◽  
Experience Economy ◽  
Outdoor Advertising ◽  
Goods And Services ◽  
Spatial Reorganization ◽  
History Of

Outdoor advertising has a long history of serving as a landmark of the experience economy. In the United States early signage often featured traveling shows and circuses. As the automobile changed lifestyle trends, billboards followed the new roading experience. Today, outdoor advertising is increasingly seen as a part of experiencing cities, clustered in entertainment districts. Through spatial reorganization, integration into the built environment, and the development of increasingly engaged technologies, outdoor advertising is adapting to the new experiences of urban life. Signage is being used in new ways to enhance the quality of life in places that are commonly associated with consuming goods and services. As a landmark of the experience economy, signage orients individuals to these locations by drawing attention to opportunities to eat, drink, and have fun.

Eurasian Economic Union: A sober look

2016 ◽  
pp. 43-60 ◽  
Author(s):  
E. Vinokurov
Keyword(s):  
The State ◽  
Customs Union ◽  
Macroeconomic Policies ◽  
Member States ◽  
Goods And Services ◽  
Eurasian Economic Union ◽  
Ongoing Work ◽  
General Rules ◽  
Economic Union ◽  
Trade And Investment

The paper appraises current progress in establishing the Customs Union and the Eurasian Economic Union (EAEU). Although the progress has slowed down after the initial rapid advancement, the Union is better viewed not as an exception from the general rules of regional economic integration but rather as one of the functioning customs unions with its successes and stumbling blocs. The paper reviews the state of Eurasian institutions, the establishment of the single market of goods and services, the situation with mutual trade and investment flows among the member states, the ongoing work on the liquidation/unification of non-tariff barriers, the problems of the efficient coordination of macroeconomic policies, progress towards establishing an EAEU network of free trade areas with partners around the world, the state of the common labor market, and the dynamics of public opinion on Eurasian integration in the five member states.

MODERN PROBLEMS OF ACCOUNTING AND ANALYTICAL ENSURING FINANCIAL RESULTS MANAGEMENT

2020 ◽  
Author(s):  
Yuliia Peniak ◽  
◽  
Nataliia Horokhovatska ◽  
Keyword(s):  
Performance Management ◽  
Enterprise Management ◽  
Goods And Services ◽  
Financial Condition ◽  
General Evaluation ◽  
Net Profit ◽  
Business Entities ◽  
Results Management ◽  
Main Components ◽  
The Impact

The main purpose of any enterprise in the market economy is to obtain high financial results. One of the main conditions for the effective functioning of the enterprise is ability to generate profit in the amount that will create the financial basis for further development and expansion of the enterprise, comply with social and material needs, ensure competitiveness in the market of goods and services. The need for accounting and analytical management of financial results stems from needs of owners, the state and employees in information that will enable them to identify patterns and trends in financial results, identify and assess the main factors influencing the process of their creation, distribution and usage, identify reserves and thus increase the level of profitability. Despite the significant scientific contribution in the field of research of financial results of the enterprises, the issue of improvement aims to the accounting and analytical maintenance of management of financial results of the enterprise remains actual. That is why the purpose of the study is to substantiate the theoretical and practical aspects and develop approaches to improving the mechanism of formation of accounting and analytical support for the management of financial results of the enterprise. Accounting and analytical management of financial results of the enterprise is a set of interconnected elements of production and management system, activities carried out by the subject of management, creation of a certain structure, as well as collection, accumulation, storage and analysis of information necessary for effective operation of the enterprise. The main components of the study of accounting and analytical support of financial performance management are the formation of methods of analysis, control and forecasting of financial results, which requires specification of the components of the analytical and controlled process within the organizational and information model. Namely, the formation of reliable information about the financial condition of the enterprise, the analysis of economic indicators of the enterprise is of great importance in the system of general evaluation of business entities. Their research makes it possible to assess the dynamics of the structure of income and expenses, to determine the impact of factors on the company's profit from various activities, as well as to find reserves to increase the net profit of enterprises. Thus, the improvement of accounting and analytical support of enterprise management is based on the use of modern forms, methods and principles that place new demands on the formation of unbiased, complete, timely, clear and useful accounting and analytical information about the enterprise and its financial results.

STUDY OF POND STATUS IN INDIA : A REVIEW

2017 ◽  
Vol 23 (1) ◽  
Author(s):  
V.K. YADAV ◽  
SONAM SHARMA ◽  
A.K. SRIVASTAVA ◽  
P.K. KHARE
Keyword(s):  
Fresh Water ◽  
Land Surface ◽  
Human Population ◽  
Climate Changes ◽  
Hydrological Cycle ◽  
Habitat Destruction ◽  
Conservation Strategy ◽  
Goods And Services ◽  
Human Use ◽  
Over Exploitation

Ponds are an important fresh water critical ecosystem for plants and animals providing goods and services including food, fodder, fish, irrigation, hydrological cycle, shelter, medicine, culture, aesthetic and recreation. Ponds cover less than 2 percent of worlds land surface. Ponds are important source of fresh water for human use. These are threatened by urbanization, industrialization, over exploitation, fragmentation, habitat destruction, pollution, illegal capturing of land and climate changes. These above factors have been destroying ponds very rapidly putting them in danger of extinction of a great number of local biodiversity. It is necessary to formulate a correct conservation strategy for pond restoration in order to meet the growing needs of fresh water by increasing the human population. Some measures have been compiled and proposed in the present review.

Land Use Change and Commodity Frontiers

2020 ◽  
Vol 4 (1) ◽  
Author(s):  
Daniel M. Cáceres ◽  
Esteban Tapella ◽  
Diego A. Cabrol ◽  
Lucrecia Estigarribia
Keyword(s):  
Large Scale ◽  
Field Work ◽  
Dry Forest ◽  
Social Actors ◽  
Goods And Services ◽  
Fast Pace ◽  
Forest Use ◽  
The Government ◽  
Social Environmental ◽  
Management Recommendations

Argentina is experiencing an expansion of soya and maize cultivation that is pushing the agricultural frontier over areas formerly occupied by native Chaco forest. Subsistance farmers use this dry forest to raise goats and cattle and to obtain a broad range of goods and services. Thus, two very different and non-compatible land uses are in dispute. On the one hand subsistance farmers fostering an extensive and diversified forest use, on the other hand, large-scale producers who need to clear out the forest to sow annual crops in order to appropriate soil fertility. First, the paper looks at how these social actors perceive Chaco forest, what their interests are, and what kind of values they attach to it. Second, we analyze the social-environmental conflicts that arise among actors in order to appropriate forest’s benefits. Special attention is paid to the role played by the government in relation to: (a) how does it respond to the demands of the different sectors; and (b) how it deals with the management recommendations produced by scientists carrying out social and ecological research. To put these ideas at test we focus on a case study located in Western Córdoba (Argentina), where industrial agriculture is expanding at a fast pace, and where social actors’ interests are generating a series of disputes and conflicts. Drawing upon field work, the paper shows how power alliances between economic and political powers, use the institutional framework of the State in their own benefit, disregarding wider environmental and social costs. 

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