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.

VOSSEN. An expedition in the modern land of Reynard in 2018

Reinardus ◽  
2019 ◽  
Vol 31 ◽  
pp. 236-251
Author(s):  
Rik Van Daele
Keyword(s):  
Success Factors ◽  
Anglo Saxon ◽  
Experience Economy ◽  
Modern Experience

Abstract The Phoebus Foundation, a Flemish art foundation based on Anglo-Saxon law with philanthropic objectives, founded by Fernand Huts, the CEO of the Antwerp enterprise Katoen Natie, bought in the spring of 2016 a collection of 350 Reynardian books, probably the world’s most important collection of Reynard books. In 2018, a huge Reynardian project was created around this collection, an expedition in which almost 60,000 participants made a cycling trip through the Flemish Waasland, the port of Antwerp, and Dutch Zeelandic Flanders. Along the route of this experience the visitors explored the medieval Dutch animal story Van den vos Reynaerde in a creative, playful way, accessible to a large public of families. This paper aims to detect the success factors of this event as part of the modern experience economy with the help of Alessandro Baricco’s essay The Barbarians. An Essay On the Mutation of Culture.

Forthcoming Economic Changes on the World Market under the Influence of 4.0 and the Following Revolutions

2020 ◽  
Vol 9 (1) ◽  
pp. 85-91
Author(s):  
K. Gylka ◽  
Ho Jin Han ◽  
A. Gribincha
Keyword(s):  
Natural Resources ◽  
World Market ◽  
Social Needs ◽  
Economic Changes ◽  
Global Competitiveness ◽  
Goods And Services ◽  
Aging Populations ◽  
The Usa ◽  
Cis Countries ◽  
New Generation

The leading countries have taken the direction of the vector towards digitalization. In the CIS countries, this direction means “digital economy”, but in other countries, it is Industry 4.0 (Germany), in the USA — Industrial Internet Consortium. In fact, this is one and the same process — the translation of the economy into a digital mode, technology, an algorithm for expressing phenomena and actions, goods and services, thoughts, artificial intelligence, etc. Other countries went further by announcing the development of strategy 5.0 (Japan) or 6.0 (China). Many countries do not have rich natural resources, so they completely depend on the quality of education of the new generation, and it needs to be prepared for revolutionary changes. Therefore, the emphasis is on children — this is our future — the theme is as relevant as ever. Humanity is subject to a number of shocks. They are reducing the number of employees, aging populations, declining global competitiveness of production, the need to upgrade infrastructure, environmental problems, lack of natural resources, issues of tackling natural disasters and countering terrorism. There was a necessity to create a universal concept that would go beyond sectoral problems and respond primarily to social needs and needs.

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.

scholarly journals Current Emotion Research in Economics

2017 ◽  
Vol 9 (3) ◽  
pp. 271-278 ◽  
Author(s):  
Klaus Wälde ◽  
Agnes Moors
Keyword(s):  
Behavioral Economics ◽  
Utility Theory ◽  
Economic Modelling ◽  
Classical Economics ◽  
Negative Feelings

Positive and negative feelings were central to the development of economics, especially in utility theory in classical economics. While neoclassical utility theory ignored feelings, behavioral economics more recently reintroduced feelings in utility theory. Beyond feelings, economic theorists use full-fledged specific emotions to explain behavior that otherwise could not be understood or they study emotions out of interest for the emotion itself. While some analyses display a strong overlap between psychological thinking and economic modelling, in most cases there is still a large gap between economic and psychological approaches to emotion research. Ways how to reduce this gap are discussed.

scholarly journals Analiza uwarunkowań rozwoju małej i średniej przedsiębiorczości w województwie lubelskim

2006 ◽  
Vol 2 ◽  
pp. 101-114
Author(s):  
Elżbieta Mitura ◽  
Ewa Oleksiejczuk ◽  
Anna Oleksiejczuk
Keyword(s):  
Financial Stability ◽  
Modern Technology ◽  
Retail Trade ◽  
Financial Barriers ◽  
Economic Changes ◽  
Organization Management ◽  
Educational Barriers ◽  
Goods And Services ◽  
Characteristic Features ◽  
Main Barrier

One of the characteristic features of social and economic changes in Poland over the last ten years is a dynamic development of small and middle-sized firms. However, the firms vary depend on what kind of economic activity they carry out. Most of small and middle-size firms deal with wholesale and retail trade, estate management, education and building industry. A similar structure of firms can be noticed in major cities in the Lublin region, where trade firms and various services seem to predominate. Economic problems in Poland are directly connected with increasing regional differences. This implicates the existence of serious inner barriers for the development of particular regions. The analysis of the development of small and middle-size firms over the last years shows that this ecounters many barriers: - financial barriers - the lack of money and low financial and legal stability; - technological barriers - inefficient access to modern technology and the lack of money to finance modernization; - market barriers - small interest in products, which is connected with the difficulties in acquiring goods and services; - educational barriers - poor preparation for running a firm by means of modern techniques of organization, management, planning and marketing; - problems which appear during the cooperation with local and regional institutions. The above-mentioned barriers are also mentioned in the survey carried out as a part of the project entitled “Innovation market in Lublin”. Half of the questioned people pointed to the lack of money and low financial stability as the main barrier of development. The next barrier mentioned was the influence of strong competition and the lack of funds to modernize the equipment to improve the standards of production and service. This means that their sensitivity to factors limiting development is the biggest. The analysis of the conveyed survey shows that the indispensable condition of development of MT companies is to facilitate the access to bank credits and to create a tax system which would be more just to firms of different size. The survey made it also possible to define the barriers for establishing a firm and its further development in the Lublin region. The most frequent are: high costs of setting up a firm, bureaucracy, limited access to funds, the lack of a clearly specified concept of the development of the Lublin region, fear of taking risk, the lack of an enterprise-friendly environment, the lack of knowledge about the institutions supporting various enterprises, problems connected with the necessity of acquiring different permissions and concessions and the lack of technological solutions initiated by the needs of companies and firms.

scholarly journals What I Learnt About How I Learnt About Behavioral Economists

2020 ◽  
Vol 6 ◽  
pp. 391
Author(s):  
Zara Thokozani Kamwendo
Keyword(s):  
Behavioral Economics ◽  
Experimental Methods ◽  
Heuristics And Biases ◽  
Paradigm Shifts ◽  
Policy Makers ◽  
Rhetorical Device ◽  
Work In Progress ◽  
Classical Economics ◽  
Public Imagination

This paper is a discussion of the role of the experimental methods and the dissemination practices of behavioral economists in capturing public imagination. The paper is framed by auto biographical accounts of two episodes in my own exploration of behavioral economics as a topic of study: participating in a MOOC on the basics of behavioral economics and sharing my work in progress to a group of staff and students in Singapore. Drawing on Shapin and Shaffer’s notion of “virtual witnesses” (Shapin and Shaffer 1985) I develop the argument that a consequence of the dissemination practices of the Heuristics and Biases Program is the creation of both “virtual subjects” and “virtual experimenters.” I then give an account of Thaler’s use of rationality and Kuhnian paradigm shifts as a rhetorical device to persuade mainstream economists and policy makers of the value of behavioral economics and to establish the narrative of behavioral economics as critics of neo-classical economics. I argue that the reflexive approach adds to accounts of the success of behavioral economics as a story of persuasive techniques of behavioral economists embedded in their practices of experimentation and dissemination. 

scholarly journals A Study on the Qualitative Data Analysis for Customer Experience Management Strategy

2021 ◽  
Vol 12 (5) ◽  
pp. 249-256
Author(s):  
Jinho Ahn, Jeungsun Lee
Keyword(s):  
Big Data ◽  
Data Processing ◽  
Quantitative Data ◽  
Positive Emotions ◽  
Customer Experience ◽  
Processing Method ◽  
Point Of View ◽  
Experience Economy ◽  
Customer Experience Management ◽  
Data Processing Method

Securing customer experience data that creates positive emotions for customers and differentiates them from products and services from competitors is becoming important to a company's growth engine. In particular, an important factor in the management of experience data requires a qualitative-based experience data processing method to secure good experience data different from the quantitative data collection such as big data and processing method. With the emergence of the experience economy, it is very important for companies to collect and process experience data in the existing big data processing method. However, the experience data processing method based on big data that analyses the current quantitative data is difficult to provide good experience data from a corporate data strategic point of view. In particular, for corporate customer experience management, mix studies are required for analysis method of qualitative experience data to meaningfully interpret the expansive quantitative experience data of big data and phenomena and context in social science. This is because it is possible to discover the meaning of experience data by reading the context of phenomena by collecting experiences through ethnography methods such as observation or interviewing the context that could not be read in the process of processing the vast quantitative experience data of the big data method. In this study, the first processing was performed as an affinity diagram through a method of collecting experience data using ethnography method. Secondly, the effect of the qualitative experience data processing method on customer experience management, customer loyalty reinforcement, and enterprise value creation was studied. As a result, only the research hypothesis that there was a direct relationship between the affinity method and the utilization of experience data was rejected, and all the research settings set for the remaining qualitative experience data processing and utilization model were adopted.

Production, Disbursement and Consumption: The Modes and Modalities of Goods and Services

1997 ◽  
Vol 44 (1_suppl) ◽  
pp. 36-65 ◽  
Author(s):  
Keith Dowding ◽  
Patrick Dunleavy
Keyword(s):  
Public Goods ◽  
Urban Studies ◽  
Classical Economics ◽  
Goods And Services ◽  
Political Dynamics ◽  
Integrated Theory ◽  
The Social ◽  
Government Involvement ◽  
Process Trends ◽  
Policy Shifts

Two completely separate literatures have analysed government involvement in consumption; the collective consumption stream in urban studies and neo-classical economics' account of public goods. Both traditions have significantly converged in recent years, especially in recognizing a differentiated spectrum of provision in place of previous dichotomous categories. Collective consumption theories have poorly explained consumption process trends, but captured many of the key social and political causes of change. Public goods theories have underpinned public policy shifts, and thus been congruent with the direction of change, but poorly explained the social and political dynamics involved. An integrated theory bridging both approaches should better explain the relative autonomy of consumption processes.

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