But Does It Work: Looking at the experience economy
Branding and advertising expert, Andy Rice (@ricecommaandy), says the experience economy is about going from extracting economies to making goods, delivering services and staging experiences. The experience economy is the term used to describe the evolution of value-added benefits that culminate in a brand like Starbucks (which opened in Johannesburg two weeks ago), where what is being sold is not coffee but rather a multi-layered experience.
According to Rice, the experience has to happen in terms of consumption and quotes brands such as Virgin Atlantic, the recent Magnum pop-up store in Rosebank, and Audi. Crucially, the he says you have to keep refreshing the experience…
Catch ad and branding critic Andy Rice (@ricecommaandy) on the #ButDoesItWork feature on 702 (@Radio702) and Cape Talk (@CapeTalk). Every week on The Money Show on a Tuesday evening just after 7pm, he unpacks the tricks of the advertising and brand communications world, SOME of which work but MANY of which don’t! Produced by Primedia Broadcasting’s Gary Oberholzer (@goberholzer). For more, go to Facebook.
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