The Experience Economy: Work Is Theater & Every Business a Stage
by B. Joseph Pine, James H. Gilmore
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Book Summary Information
Author: B. Joseph Pine, James H. GilmoreEdition: Hardcover
Published: 1999-04
ISBN: 0875848192
Number of pages: 254
Publisher: Harvard Business School Press
Book Reviews of The Experience Economy: Work Is Theater & Every Business a Stage
Book Review: Lightning from a clear sky
Summary: 5 Stars
When asked to review JRR Tolkein's "Lord of the Rings" - Oxford Don and literary critic C.S. Lewis declared "this book is like lightning from a clear sky. It represents "the conquest of new territory."
This is precisely how I felt upon my first reading of "The Experience Economy" by B. Joseph Pine II and James H. Gilmore. As I have enjoyed many subsequent readings (9 and counting since my first), I have found the book and, more importantly, the thinking and worldview behind the book to hold up to an immense amount of criticism, curiousity and even the occasional cynic.
I suppose that there will always be those to criticize that to which they have, in many cases, directed only cursory attention--a perusal, skim, or "quick read-through". For those of us who have taken the time to become more familiar with the "4-Es", the "3 (or 5) Ss", THEMEing, and a far greater number of 2x2 matrices than you are likely to find in any 5 popular business best-sellers, we know that the writing team of Pine and Gilmore have produced what Tom Peters called "a brilliant, absolutely original book". When applied in "real life" the theory holds up--even during the harshest tests of every day business practice. Among business books, I have found this to be rare, indeed.
Reading and performing vivisection on this work has inspired this veteran of more than 30 years of business battle to renew my hope in the "Authentic" possibility that the true customer can be served by any of today's profit-driven, egocentric businesses. The most woeful example of these businesses who reside beneath the heavy shadow of Wall Street and increasingly unreasoned and unreasonable growth expectations may be able to break free from the bondage of self-servitude--into the glorious light of customer(guest)-focused Experience staging.
If you doubt that the application of the principles espoused in this book can change your business...I challenge you to read, learn and apply the lessons of "The Experience Economy".
Summary of The Experience Economy: Work Is Theater & Every Business a Stage
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
You are what you charge for. And if you're competing solely on the basis of price, then you've been commoditized, offering little or no true differentiation. What would your customers really value? Better yet, for what would they pay a premium? Experiences. The curtain is about to rise, say Pine & Gilmore, on the Experience Economy, a new economic era in which every business is a stage, and companies must design memorable events for which they charge admission. With The Experience Economy, Pine & Gilmore explore how successful companies-using goods as props and services as the stage-create experiences that engage customers in an inherently personal way. Why does a cup of coffee cost more at a trendy cafe than it does at the corner diner or when brewed at home? It's the value that the experience holds for the individual that determines the worth of the offering and the work of the business. From online communities to airport parking, the authors draw from a rich and varied mix of examples that showcase businesses in the midst of creating engaging experiences for both consumers and corporate customers. The Experience Economy marks the debut of an insightful, highly original, and yet eminently practical approach for companies to script and stage compelling experiences. In doing so, all workers become actors, intentionally creating specific effects for their customers. And it's the experiences they stage that create memorable-and lasting-impressions that ultimately create transformations within individuals. Make no mistake, say Pine & Gilmore: goods and services are no longer enough. Experiences are the foundation for future economic growth, and The Experience Economy is the playbook from which managers can begin to direct new performances.
Future economic growth lies in the value of experiences and transformations--good and services are no longer enough. We are on the threshold, say authors Pine and Gilmore, of the Experience Economy, a new economic era in which all businesses must orchestrate memorable events for their customers. The Experience Economy offers a creative, highly original, and yet eminently practical strategy for companies to script and stage the experiences that will transform the value of what they produce. From America Online to Walt Disney, the authors draw from a rich and varied mix of examples that showcase businesses in the midst of creating personal experiences for both consumers and businesses. The authors urge managers to look beyond traditional pricing factors like time and cost, and consider charging for the value of the transformation that an experience offers. Goods and services, say Pine and Gilmore, are no longer enough. Experiences and transformations are the basis for future economic growth, and The Experience Economy is the script from which managers can begin to direct their own transformations.
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