Experience Economy

1
Experience Economy

• What does the consumer want?
• Christine Harris
• Kathryn Shipway
• Bournemouth University

2
Value to experience

• Attributes of the product Dodds et al 1991,
  Gale 1994, Zeithaml 1988
• Encompass service and image Naumann 1995
• Bundle of attributes Snoj et al 2004
• Overall shopping experience - McTaggart

3
Questionnaire - Naummans Model (1995)
Price
Customers Perception of Value
Service Quality
Product Quality
Image
4
Price

• The prices of the products
• Price reduction/sales
• Special promotions
• The availability of store/loyalty cards

5
Product Quality

• Variety and assortment of products
• The quality of the products available
• The general layout of the store
• The general location of the stores

6
Service Quality

• Shops restocked regularly and always full of
  goods
• The knowledge of the staff
• The returns policy
• The helpfulness and availability of the staff

7
Image

• The quality of the stores or retailers
  advertising.
• Regular introductions of new ranges
• Their involvement in the local community
  (Sponsorship and Vouchers)
• The overall image of the store

8
Q1 Name a supermarket retailer that you feel
offers good value
9
Discounters

• Aldi
• Lidl
• Netto
• Kwiksave

10
Morrisons Asda
11
Sainsbury Tesco
12
Waitrose MS
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Supermarket

• Value is ..
• Asda Service and Price
• Morrisons Price
• Sainsburys Product Quality and Image
• Tesco Price and Product Quality
• Waitrose Product Quality and Service

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MS Food versus Fashion
15
Food v Fashion
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References

• Dodds, W., Monroe, K. and Grewal, D. (1991)
  'Effects of price, brand and store information on
  buyers product evaluations', Journal of
  Marketing Research, Vol. 28, No. 3, pp. 307-319.
• Gale, B. (1994) Managing Customer Value. The Free
  Press Journal Article, New York.
• McDougall, G. and Levesque, T. (2000) 'Customer
  satisfaction with services putting perceived
  value onto the equation', Journal of Services
  Marketing, Vol. 14, No. 5, pp. 392-410.
• McTaggart, J. (2005) 'Perceptions of Value',
  Progressive Grocer, Vol. 84, No. 12, pp. 8-10.
• Naumann, E. (1995) 'Creating Customer Value The
  linkage between customer value, customer
  satisfaction, customer loyalty, and
  profitability'.
• Snoj, B., Lorda, A. and Mumel, D. (2004) 'The
  relationships among perceived quality, perceived
  risk and perceived product value', Journal of
  Product and Brand Management, Vol. 13, No. 3, pp.
  156-167.
• Zeithaml, V. (1988) 'Consumer Perceptions of
  Price, Quality, and Value A Means-End Model and
  Synthesis of Evidence', Journal of Marketing
  Research, Vol. 52, No. 2, pp. 2-22.

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Any Questions