The Experience Economy

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by B. Joseph Pine II & James H. Gilmore

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.

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— B. Joseph Pine II & James H. Gilmore, The Experience Economy