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Philosophy of Management and Sustainability: Rethinking Business Ethics and Social Responsibility in Sustainable Development
Type: Book
ISBN: 978-1-78973-453-9

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Book part
Publication date: 1 March 2021

Jenny Flinn

By the end of this chapter, you should be able to demonstrate an understanding of:The concept of experience and growth of the experience economy.The role of experiences in…

Abstract

By the end of this chapter, you should be able to demonstrate an understanding of:

The concept of experience and growth of the experience economy.

The role of experiences in engaging consumers and sustaining business.

The importance of experiential marketing as a tool for marketers.

Practical examples of how experiences can be used to market different products and services.

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New Perspectives on Critical Marketing and Consumer Society
Type: Book
ISBN: 978-1-83909-554-2

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Article
Publication date: 9 July 2019

Ivan K.W. Lai, Dong Lu and Yide Liu

The concept of experience economy states that customers seek experiences whether from products and services. Tourism is at the forefront of the experience economy because…

Abstract

Purpose

The concept of experience economy states that customers seek experiences whether from products and services. Tourism is at the forefront of the experience economy because tourists are looking for staged experience encompassing the four realms (entertainment, educational, esthetic and escapism). The purpose of this paper is to empirically explore the effects of the experience economy on tourists’ word-of-mouth (WOM) in Chengdu cuisine through satisfaction and memory.

Design/methodology/approach

In total, 397 valid data were collected from the tourists who have experienced the ethnic cuisine in Chengdu. A partial least-square structural equation modeling technique was used to examine the research model.

Findings

The empirical results indicated that esthetic is the antecedent of the other three realms of experience economy; esthetic, educational and entertainment experiences influence satisfaction; four realms of experience economy influence memory; and satisfaction and memory ultimately influence WOM.

Practical implications

The findings of this study provide practical implications for operators of ethnic restaurants in designing their restaurants and menus, travel agencies in planning the tour itinerary and governments in using ethnic cuisine for destination marketing.

Originality/value

This study is a pioneer in studying the experience economy in the ethnic cuisine. It has identified the relationships between four dimensions of experience economy of ethnic cuisine, tourist satisfaction, memory and WOM toward ethnic cuisine in a tourist destination. It has also integrated the senses of Chinese cuisine (“sight,” “smell” and “taste”) into the measures of esthetic experience for studying experience economy in ethnic cuisine.

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British Food Journal, vol. 122 no. 6
Type: Research Article
ISSN: 0007-070X

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Book part
Publication date: 30 July 2018

Abstract

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Marketing Management in Turkey
Type: Book
ISBN: 978-1-78714-558-0

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Article
Publication date: 10 October 2018

Melissa-Vasiliki Alexiou

The purpose of this paper is to explore the influence of the experience economy and co-creation concepts on guided tours (GTs) and to analyze the process of the on-site…

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2746

Abstract

Purpose

The purpose of this paper is to explore the influence of the experience economy and co-creation concepts on guided tours (GTs) and to analyze the process of the on-site (co-)creation of experience between the service provider and the consumer taking into account the consumer perspective.

Design/methodology/approach

The objective of the study is fulfilled by reviewing the literature on experience economy and co-creation within a cultural heritage context and then using it to design appropriate research tools to collect empirical data through qualitative interviews within the context of a single case study. The Medieval Town of Rhodes (MTR), Greece, serves as the case in this study. In fact, this study analyzes primary data from 25 interviews with participants in GTs in the MTR.

Findings

The GT participant’s views of their GT experience were explored, and it was evaluated whether they fit any of the three generations of experience economy with an emphasis on co-creation of experience. The findings show that, in the MTR-GT services, the characteristics of mainly the first and second generation experience economies are found, while little emphasis is given to the third generation experience economy. Based on the empirical results, the RIF model (R: “Resources,” I: “Interactions,” F: “Feelings”) was created: this proposes that both the process of experience co-creation and optimal GT experiences are realized by providing participants with appropriate resources, multiple types of interactions and opportunities to generate positive and pleasant feelings. This model illustrates the intertwining, multi-dimensional facets of an optimal co-created GT experience that service providers and tour operators should provide to their customers.

Research limitations/implications

The present study has several limitations that need to be mentioned. First, this research is a single case study; the MTR serves as the case, focusing on one cultural heritage service, GTs. This fact can put the study’s validity in question. Moreover, as the research is conducted by a single person, there is the risk of subjective bias. Another limitation is that this study is not a longitudinal one; the latter could lead to more accurate findings. The number and the nationality of participants constitute the 4th and final limitation of the research. More specifically, the sample is not perceived to be representative of the population nor generalizable, while visitors from more nationalities could have been interviewed. In relation to this, the judgmental sampling method was used because the population of the study could not be defined. This serves as the fifth limitation of the study.

Practical implications

Tour operators and tour guides can exploit the characteristics of GT activities included in the proposed RIF model. By incorporating these elements in GT experiences, the process of experience co-creation could be effectively supported. An optimal GT experience that incorporates intertwining and multi-dimensional facets could be provided. To begin with, the physical setting where the tour takes place must be well preserved, so that it can capture the attention of the participants. The route of the tour should not be exhausting but convenient for all participants and should include various landscapes. On the other hand, tour guides should provide interesting, relevant and cohesive information. Moreover, a tour guide needs to display charismatic behavior to gain the tour group’s trust and generate positive feelings impressing and immersing participants in the experience and encouraging in them a sense of togetherness. Within the context of the tour, tangible elements such as brochures and maps should be provided, allowing vistors to tailor the experience according to their needs and preferences. Furthermore, interaction between the guide and the tour group, as well as among the participants themselves, should be encouraged. In relation to this, the tour group could be divided into sub-groups according to common features such as age. The guides could also come up with a topic to be jointly discussed and participatory activities such as games could be organized. Finally, participants should have some freedom during the tour; time to explore the setting on their own or a visit to specific places on request.

Originality/value

The originality of the paper lies in the development of the RIF model, illustrating the on-site optimal experience within the context of GTs taking place in the MTR, the setting of the research. The construction of the RIF model was based on an investigation into actual GT participant’s perspectives on GTs.

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International Journal of Culture, Tourism and Hospitality Research, vol. 12 no. 3
Type: Research Article
ISSN: 1750-6182

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Article
Publication date: 8 June 2018

Eran Ketter

The experience economy is characterized by the consumers’ search for emotions and memorable experiences through consumption. While the experience economy has a fundamental…

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2438

Abstract

Purpose

The experience economy is characterized by the consumers’ search for emotions and memorable experiences through consumption. While the experience economy has a fundamental effect on tourists’ decision-making and their consumer behavior, only a limited number of past studies have examined the relations between the experience economy and destination marketing campaigns. To extend the scope of the existing knowledge, this paper aims to explore the use of experience marketing in destination marketing campaigns.

Design/methodology/approach

The study conducts a qualitative case study analysis of six national tourism marketing campaigns, i.e. it examines the use of experience marketing in tourism campaigns and the use of the strategic experiential module as an analysis framework for destination marketing campaigns.

Findings

The findings reveal an influence of experience marketing on the examined marketing campaigns as destinations highlight the motifs of memorable experiences, engaging people’s senses and creating meaning. In accordance with the strategic experiential module, the campaigns analyzed shift the marketing focal point from the characteristics of the destination to the tourists’ experiences of sensing, feeling, thinking, acting and relating.

Originality/value

The conclusions of the study contribute both to scholars and practitioners, extending the present knowledge of the link between experience marketing and tourism marketing, illustrating the effect of experience marketing on destination marketing and shedding new light on the role of the experience economy and experience marketing in tourism marketing campaigns.

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Article
Publication date: 14 January 2014

B. Joseph Pine II and James H. Gilmore

To succeed in the rapidly evolving experience economy executives must think differently about how they create economic value for their customers.

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6824

Abstract

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.

Details

Strategy & Leadership, vol. 42 no. 1
Type: Research Article
ISSN: 1087-8572

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Article
Publication date: 18 February 2020

Hossein Olya, Timothy Hyungsoo Jung, Mandy Claudia Tom Dieck and Kisang Ryu

This paper aims to explore a complex combination of four realms of the experience economy in formulating memories and satisfaction among festival visitors by using…

Abstract

Purpose

This paper aims to explore a complex combination of four realms of the experience economy in formulating memories and satisfaction among festival visitors by using augmented reality (AR), thus engaging visitors in the physical science experience. This study also identifies necessary conditions to achieve desired responses from visitors.

Design/methodology/approach

Asymmetrical modelling with fuzzy set qualitative comparative analysis (fsQCA) was used to investigate causal recipes of two configurations of the experience economy and evaluation of experience leading to both high and low scores from visitor engagement. Necessary condition analysis was applied to examine necessary predictors in visitor engagement. The proposed configuration model was tested by using data obtained from visitors to science festivals in the UK.

Findings

Five causal recipes explained the complex conditions in which visitors were more likely engaged in AR. Aesthetics, education, entertainment and satisfaction were necessary for high engagement among festival visitors.

Research limitations/implications

The results from fsQCA and analyses of necessary conditions help festival organizers improve visitor satisfaction and engagement in a memorable AR experience.

Originality/value

This empirical study deepens current festival understanding of how visitors experience AR by exploring combinations of complex configurations of the experience economy and evaluations of visitor experience based on memories and satisfaction. Unlike symmetrical approaches, asymmetrical modelling by using fsQCA can explore recipes for both high and low scores of visitor satisfaction and engagement. This is the first empirical study investigating necessary predictors of festival visitor behaviour.

Details

International Journal of Contemporary Hospitality Management, vol. 32 no. 2
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 30 April 2021

Ibrahim Cifci, Ozan Atsız and Vikas Gupta

This study aims to understand the components of the street food experiences of the local-guided tour in the meal-sharing economy based on the online reviews of tourists…

Abstract

Purpose

This study aims to understand the components of the street food experiences of the local-guided tour in the meal-sharing economy based on the online reviews of tourists who experienced a meal-sharing activity with a local guide in Bangkok.

Design/methodology/approach

Based on the qualitative approach, this study involved a content analysis of 384 narratives on Withlocals.

Findings

The study identified five components that embrace the street food experience: a local guide’s attributes, perceived food authenticity, local culture, perceived hygiene or cleanliness. Results also revealed that the Thai street foods are unique and authentic and can reach this experience level through a local guide.

Originality/value

Although the importance of international travellers' street food experiences and the popularity of the meal-sharing economy platforms are rapidly growing, there is no study which had combined both of these phenomena together to date. It is the first attempt to reveal the components of street food experiences in a meal-sharing platform.

Details

British Food Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0007-070X

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Book part
Publication date: 15 March 2021

Bruce Temkin

In today's economy, experiences are a distinct offering that have become the core selling point for some of the world's most successful companies. From banking and…

Abstract

In today's economy, experiences are a distinct offering that have become the core selling point for some of the world's most successful companies. From banking and transportation, to home exercise and healthcare, companies have differentiated themselves by designing distinct experiences alongside their core goods and services. And at the heart of this transformation are the data, systems, processes, and culture needed to understand more about customers and employees in order to design unique experiences for every individual. In this chapter we explore how success in the experience economy is not simply a case of gathering more data, but instead looking at a different type of data – Experience Data. With examples and case studies from some of the world's most successful companies, we look at how the discipline of experience management (XM) and the technology available to organizations today is fundamentally changing how companies operate – and win – in the experience economy.

Details

The Machine Age of Customer Insight
Type: Book
ISBN: 978-1-83909-697-6

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1 – 10 of over 111000