TY  - JOUR
AB  - Purpose– To succeed in the rapidly evolving experience economy executives must think differently about how they create economic value for their customers.Design/methodology/approach– Five value-creating opportunities are likely to drive further progress in the dynamic experience economy: customizing goods; enhancing services; charging for experiences; fusing digital technology with reality; and transformative experiences, a promising frontier.Findings– For leaders, five insights about the value-creating opportunities are key to achieving success via state-of-the-art experience staging, and they provide tested guidelines for managing in the experience economy, now and into the future.Practical implications– A huge first step in staging more engaging experiences is embracing the principle that work is theatre. So businesses should ask: What acts of theatre would turn our workers' functional activities into memorable events?Originality/value– Three key lessons: innovation to create high-quality experiences that customers will pay for is even more important than goods or service innovation. When you customize an experience, you automatically turn it into a transformation. Companies enabling transformations should charge not merely for time but for the change resulting from that time.
VL  - 42
IS  - 1
SN  - 1087-8572
DO  - 10.1108/SL-09-2013-0073
UR  - https://doi.org/10.1108/SL-09-2013-0073
AU  - Joseph Pine II B.
AU  - H. Gilmore James
ED  - Robert Randall and Brian Leavy
PY  - 2014
Y1  - 2014/01/01
TI  - A leader's guide to innovation in the experience economy
T2  - Strategy & Leadership
PB  - Emerald Group Publishing Limited
SP  - 24
EP  - 29
Y2  - 2024/04/25
ER  -