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 In The Experience Economy, the authors argue that the service economy is about to be superseded with something that critics will find even more ephemeral (and controversial) than services ever were: experiences.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
"A wise, deep, and enlightening book." -- Toronto Globe and Mail, May 5, 1999
"Most persuasive are the authors' exhortations to the retail and service industries, whose efforts are most at risk of commoditization and who have the best opportunity to turn their wares into experiences." -- Business Week, June 7, 1999
"Pine and Gilmore do make an intriguing case. In particular, they implicitly challenge two ideas that have recently hardened into conventional wisdom: that giving away your product is the path to profit, and that casually clad tech-heads who inhale pizza and who write code until dawn represent the future of work." -- Fast Company, April 1999
"The Experience Economy, with its own well-developed theme and enriching examples, may transform more than a few managers." -- Technology Review, May-June 1999
"This is a good look at how every business is morphing into show business...just creating a product and waiting for the world to come to your door is not going to cut it." -- Jesse Berst, ZDNet (for Wired), July 1999
"This is a seminal work, a book that presents new ideas--and uses old ideas in new ways--to change the reader's perceptions and expectations." -- National Productivity Review, Winter 1999