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Experience Economy

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Essay title: Experience Economy

The evolving of economy throughout the years, since creation, depended on provided buyers with what they want. Whether a craftsman trade in the early civilization, or a corporation sale in our time, it has to provide the buyers with what they want at an affordable price, more for the trade or dollar. Throughout the years, and as civilization grew, buyer started to have more and more choices for the same product. Companies started to compete with each other for the same buyer; beside quality, they started to add more to the product they sell. Servicing the product became a buying motivation for consumers; they started to buy from corporation that stands behind their products. The economical value for the product became very critical in the buying decision, and that motivated all corporations to offer service along with the product. In the early 1990’s, with international merging economy, globalization, corporations faced a tense competition for the same consumer within their own market share. Consumers now have more choices for the same product and service, supply is high so price is low. Visionary corporations added the third motivation factor to product and service, they added the experience factor.

Experiences, like goods and services, have to meet the costumers need; they have to work, and they have to be deliverable. Just as goods and services result from an iterative process of research, design, and development, experience derive from an iterative process of exploring, scripting, and staging capabilities that aspiring experience merchants will need to master. There are five key experience-design principles to make it a memorable one. First, companies need to theme the experience; it needs to create a consistent theme that resonates throughout the entire experience. Consider the Forum Shops in Las Vegas, a mall that displays its distinctive theme, an ancient Roman marketplace in every detail. Second, companies need to layer the theme with positive cues by creating the desired impressions. Companies must introduce cues that affirm the

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