The Experience Economy recipes
You might have heard of the term ‘the experience economy’ when looking into customer service training. Pine and Gilmore coined the phrase in their book ‘The Experience Economy’ (1999). It is said to be the emerging economy following on from the agrarian, industrial and service economies. It refers to the feeling a customer gets when engaging with your business and is distinct from the offering of service alone.
To participate in the experience economy, businesses must create a memorable event for their client. These events or experiences become a way in which businesses can add value to their existing product or service, thus giving them an edge over their competitor.
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