Week10 - What are experiences and extraordinary experiences?

Question 1

How is the economy changing? (Steffen & Doppler 2020).

Answer 1

• Goods based industrial economy is advanced.
• Service economy takes hold.
• Time starved consumers - outsource - “welcome to the experience economy” (Pine & Gilmore, 1998).

Question 2

What is an example of a shift from a product/service to an “experience economy” in today’s consumer market? (Pine and Gilmore, 1998).

Answer 2

The process of making a cake has changed from:

1. Buy ingredients or source ingredients from own farm.
2. Buy ready-to-mix ingredients.
3. Buy ready-made cake from shop.
4. Buy whole birthday experience with the cake.

Question 3

What is experiential consumption? (………).

Answer 3

Experiential consumption = Consumption patterns and practices in which the experiential aspect gains a central role, therefore providing the utilitarian and economic aspects (Falk 2007).

Question 4

What are the 3 drivers for experiential consumption?

Answer 4

• Mass culture
• Mass media
• Entertainment

Question 5

What are experiences? and company example (Pine & Gilmour, 1998).

Answer 5

• Not a product or service - experiences are the next economic step, called the progression of economic value.
• Leading companies are now finding the competitive battleground is in the staging experiences.
  (Pine & Gilmour, 1998).

Adidas x Gucci collaborated to create a pop-up store.
Adidas pop-up shoe box store.

Question 6

What are extraordinary experiences? (…………).

Answer 6

They are events that are INTENSE and TEMPORARILY MARKED-OUT (Abrahams 1986).

Question 7

What are benefits of extraordinary experiences for the consumer? (……………..)

Answer 7

Help us transcend the monotony of daily life and its lack of surprises (Dahl 2017).

Question 8

What is an example of an extraordinary experience and what has caused the rise of EE? (………………..).

Answer 8

• Skydiving (Celsi, Rose & Leigh, 1993).

Rise of Extraordinary experiences:

1. Macroenvironmental Influence:
   - Mass Media showing EE with background speech saying “Go for it” or “be the best you can be”.
   - Social specialisation
   - Technology.
2. Inter and Intrapersonal Motives:
   - Normative (standards and norms).
   - Self-efficacy (belief in one’s own ability to succeed in a particular situation).
   - Hedonic (gain pleasure from E.E).

E.g. Redbull - “Redbull gives you wings” - This slogan paired with the extreme events suggests

Question 9

What implications do extraordinary experiences have for marketers?

Answer 9

Marketers can advertise extraordinary experiences with slogans or songs that encourage consumer to participate in EE.

• Provide products to be used alongside the EE, such as GoPro products or equipment such as boots or shoes that are specific to the extreme experience.
  Increase product portfolios and can reach wider target market.

Question 10

What is an example of a business that has capitalized on the rise of extraordinary experiences?

Answer 10

• GoPro.
  Extraordinary experiences are difficult to take pictures and videos of because usually the consumer has to be focused on the experience or it would be dangerous (e.g. skydiving, rafting).

GoPro enables consumers to capture photos and videos of their extraordinary experiences so they can have a tangible photo of their experience rather than just a memory.