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Welcome to the Experience Economy
Source: hbr.org
Article summary:
1. The experience economy is a new economic offering that is distinct from services, goods, and commodities.
2. Companies can create experiences by staging events and engaging customers on an emotional, physical, intellectual, or spiritual level.
3. Companies must charge admission for experiences in order to move into the experience economy and create more engaging events.
Article analysis:
The article provides a comprehensive overview of the emerging experience economy and how companies can move into this space by staging experiences that engage customers on an emotional, physical, intellectual, or spiritual level. The article is well-researched and provides examples of companies that have already moved into the experience economy such as IBM's Global Services unit, Silicon Graphics' Visionarium Reality Center, Star theater complex in Southfield Michigan, Niketown stores by Nike, Cafe Ke'ilu in Israel etc.
The article does not appear to be biased or one-sided as it presents both sides of the argument equally and provides evidence for its claims made throughout the article. It also does not appear to contain any promotional content or partiality towards any particular company or industry. The article also mentions potential risks associated with moving into the experience economy such as alienating existing retail channels which could be a potential downside for companies looking to move into this space.
In conclusion, the article appears to be reliable and trustworthy as it provides a comprehensive overview of the experience economy along with examples of companies that have already moved into this space successfully while also noting potential risks associated with doing so.