Kenneth Cortsen - The experience economy - TorsdagsforelæSning HandelshøJskolen Århus
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Studieopholdsopgave by Kenneth Cortsen MBA & Ms. Sc. in Business Economics The Intersection between Experience Economy & Communication – a branding perspective
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Transcript of Kenneth Cortsen - The experience economy - TorsdagsforelæSning HandelshøJskolen Århus
Studieopholdsopgave
by Kenneth Cortsen
MBA & Ms. Sc. in Business Economics
The Intersection between Experience Economy &
Communication
– a branding perspective
videncenter for turisme og oplevelsesindustri
• Knowledge organization– Analyze and communicate trends
• Consulting, articles, network, innovation etc.
What is VTO?
• Practical input
• Experience Economy as a concept
• Critical approach
• Strategic parameter in terms of branding
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Purpose w/lecture
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Definition:
• How can we interpret the concept?– Resistance to change?– Richard Florida 3 Ts (technology, talent,
tolerance)– Experience + Economy
What is it?
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Experience:
• = Memory ”Uniqueness” – Not only memorable! also remarkable (able to remark)– Allow customers to remark ”wauw-experience” tell
their friends!– From small (checking into the hotel simple and cheap)
or personalized to mega-experiences (Las Vegas)» It should speak to the consumer!
What is it?
A new way of looking at what has been there
forever
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Experience:• = Consumers should experience
something….– Production of feelings (Rolf Jensen)– Go through something (engagement)– Live & experience (Jens Ørnbo)– Interaction– Messages containing meanings, emotions,
and values (identity)
What is it?
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Economy:
• = Value addition experiences are delivered at all price points and not only for expensive products!– Advanced service economy– ”Identity refreshment”
What is it?
Consumers see that the
products they choose are
mirrors for how they see
themselves
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The history?
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What is it?
Source: Pine & Gilmore (1999)
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The importance of time, space etc.– Evt. relate to 7 Ps (expanded parametermix)– Selling more than just products and brands
successfully
What is it?
Source: Pine & Gilmore (1999)
(or) Baresso
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The progression of economic value
Source: Pine & Gilmore (1999)
NOW: S
elling experie
nces!
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• Imagine experience economy without branding (or storytelling)– Nike towns…
Branding as the experience
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• What we want from customers: – TIME is limited– ATTENTION is scarce– MONEY is consumable
Branding as the experience
When branding becomes the experience??????
Coca C
ola & H
appiness
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The broad perspective
• Many different industries:• A creative approach• Tourism, film production, sport, education, art, architecture, entertainment overall etc.
• Transformation via storytelling!
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Ex. Ec. as a strategic parameter
• Reaching your objectives• Financial implications, media and
appeal USPs + ESPs• Innovation, communication and appealing to your target group• Synergy and multiplier effects• Finding the ”blue oceans”
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Ex. Ec. as a strategic parameter
• ESPs:
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Ex. Ec. as a strategic parameter
• Target groups experiences do not or should not appeal to all…..
• Differentiation is key (but some org. succeed at going mainstream) ARL????
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Ex. Ec. as a strategic parameter
• Experiences do not appeal to all:
• Senses:
• Touch, Smell, Taste, See and Hear• Feel• Think• Act •Relate
Fine & expensive chocolates....
Design vs. Chocolate Company?
Key Experiential Providers (ExPros)
Visual/VerbalIdentity & SignageVisual/VerbalIdentity & Signage
Co-brandingCo-branding
CommunicationsCommunications
ProductPresenceProductPresence
SpatialEnvironmentsSpatialEnvironments
ExperienceProviders
Web Sites &Electronic MediaWeb Sites &Electronic Media
PeoplePeople
“We need a way to create the “strategic experiences”“We need a way to create the “strategic experiences”
* Tactical Implementation Components
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Ex. Ec. as a strategic parameter
• A strong brand manages consumer experiences in an intentional way a strong brand continues to reinforce itself via good brand management and thus creates new resources in the form of loyal investors, customers and employees ROIs (Coca Cola Company)
Things happen when people
buy pressure to buy!
Flying Fish
Walking inside a MAC computer can play w/ all products sell more
Effect of popular culture
The Kodak Moment
• Photography as a medium: – Isolated moments in time
Be a beer bottle
What is Experience Economy?
• The experience realms
Source: Pine & Gilmore (1999)
More than a club
Engaging World of Sports
Engaging World of Sports
Engaging World of Sports
Harmony between brand and actions
Experience Economy & Viral Marketing
Practical examples:
Quiksilver reklame fra København – Saatchi
Sprite Zero Snow Cannon - Saatchi
Doing business purely based on experiences!
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Conclusion
Knowledge about experience economy
facilitates a platform for
progression and drive
Formal
knowledge is
not enough!
Experiences
=
Platform for
making money
