Product 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.
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Amazon.com Review
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 In The Experience Economy, the authors argue that the service economy is about to be superseded with something that critics will find even more ephemeral (and controversial) than services ever were: experiences.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. --Harry C. Edwards
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 Progression of economic value ( andrewandroid )
The Experience Economy is about the progression of economic value:
Commodities - coffee beans
Goods - ground coffee
Services - a cup of coffee at a diner
Experiences - cup of coffee at a fine restaurant or trendy café
"Commodities are fungible, goods are tangible, services intangible, and experiences memorable... The easiest way to turn a service into an experience is to provide poor service."
A fifth category is introduced at the end of the book. Transformations are sustainable changes, in which the customer is the product, such as a weight loss program. An impressive example is the job training program for prison inmates by Corrections Corporation of America. "Transforming a hardened criminal... into someone who won't return to prison truly is a different kind of economic offering."
Pine and Gilmore suggest asking yourself, "What would you do differently if we charged admission? ... Even if you reject for now the idea of charging admission out of fear, uncertainty, or doubt, it should still be your design criteria... Charging admission is the final step; first you must design an experience worth paying for."
The authors recommend modular goods and services to enable mass customization. But be careful about overwhelming your customers with too many options: "Fundamentally, customers do not want choice; they just want exactly what they want... Variety is not the same as customization."
Another noteworthy topic in the book is customer sacrifice. This is defined as the difference between what a customer wants exactly, and what he settles for. "Designing for the average is the root cause of customer sacrifice."
Some books are so well written that the words fly off the page. This isn't one of them. The authors have some interesting ideas, but this was slow reading for me. The three chapters belaboring the analogy of work is theater (drama=strategy, script=process, theater=work, performance=offering) could be skipped for a less tedious reading experience.
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 Lightning from a clear sky
When asked to review JRR Tolkein's "Lord of the Rings" - Oxford Don and literary critic C.S. Lewis declared "this book is like lightning from a clear sky. It represents "the conquest of new territory."
This is precisely how I felt upon my first reading of "The Experience Economy" by B. Joseph Pine II and James H. Gilmore. As I have enjoyed many subsequent readings (9 and counting since my first), I have found the book and, more importantly, the thinking and worldview behind the book to hold up to an immense amount of criticism, curiousity and even the occasional cynic.
I suppose that there will always be those to criticize that to which they have, in many cases, directed only cursory attention--a perusal, skim, or "quick read-through". For those of us who have taken the time to become more familiar with the "4-Es", the "3 (or 5) Ss", THEMEing, and a far greater number of 2x2 matrices than you are likely to find in any 5 popular business best-sellers, we know that the writing team of Pine and Gilmore have produced what Tom Peters called "a brilliant, absolutely original book". When applied in "real life" the theory holds up--even during the harshest tests of every day business practice. Among business books, I have found this to be rare, indeed.
Reading and performing vivisection on this work has inspired this veteran of more than 30 years of business battle to renew my hope in the "Authentic" possibility that the true customer can be served by any of today's profit-driven, egocentric businesses. The most woeful example of these businesses who reside beneath the heavy shadow of Wall Street and increasingly unreasoned and unreasonable growth expectations may be able to break free from the bondage of self-servitude--into the glorious light of customer(guest)-focused Experience staging.
If you doubt that the application of the principles espoused in this book can change your business...I challenge you to read, learn and apply the lessons of "The Experience Economy".
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Secret behind business success
A Harvard educated friend of mine told me about this book which created some interest, until I found out the most successful companies in the country were using this technique to rapidly expand their profitability. Then I couldn't wait to order it and find out for myself how these concepts applied to small business.
I wasn't disappointed and have recommended the book for years because even though it's a radical concept, it works. If you have ever wondered if price is the most important element in finding business success, this book will convince you otherwise. It's not about money- it's about the customers experience and when you know how to master this technique you will win customers for life along with word of mouth marketing that will be invaluable for your long term business success.
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excellent service ( jfeldmann5 )
This was fast and accurate, and the quality was just what was advertised. Thank you!
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 too much 'flowers' in conveying the message ( elny )
When I bought this book, I hoped Mr Pine will more describe about the ultimate power of new era, the experience economy, and how that change should be adapted quickly for many variety industries settings to get survive. Meaning, I expect to find a practical guidance to overcome the battle.
I found many ideas poured into this book mostly already existed in some other books (not written by Joseph Pine, for sure), for instance putting the experience as value added in consumer goods to increase consumers' emotional benefits. In doing so, the manufacturer can have premium price to outdo the competition. I've heard of it as many as the idea of how to serve consumers in a new different way by using internet as interactive tool to preserve their satisfactions and to use it as new channel of distribution. I really hope he came up with new striking and distinctive ideas, not those hackneyed ones.
I somewhat think this book a little bit hard to understand. Mr Pine used and picked up some unusual vocabularies to convey his message. I always fall asleep everytime reading it. Surprising that it takes me a week to consume 2-3 pages whilst I spend a week to finish Harry Potter - Goblet of Fire in English version.
However, I thank to Joseph for inspiring me some new vocabs.
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