Experience Economy

THE PLATFORM

THE ADVENT OF THE EXPERIENCE ECONOMY

experience

(BASED ON THE JOE PINE NAIROBI EXECUTIVE LEADERSHIP SEMINAR; Radisson Blu Hotel)

A quick Google search about ‘The Experience Economy’ reveals that the term was first explored in a 1998 published article by B. Joseph Pine II and James H. Gilmore, under the title “The Experience Economy”. The duo brought out the Experience economy as the next economy taking after Agrarian economy (Commodities), the Industrial economy (goods), and the recently Service economy (Services) Privy to which many other scholars had looked at the concept. Primarily born within the Business landscape, the concept of Experience economy has crossed into varied fields and currently applies entirely to all divides. The concept thus argues that businesses and or stakeholders should endeavor to create and sustain memorable events for their clientele upon which the memory becomes the product. Fast forward and Joe Pine was in town to speak…

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