Joseph Pine

After having recently reviewed Joseph Pines lecture on what consumers want, I strongly feel that I will be able to incorporate his principles of stinting value and authenticity into my celestial latitude strategy. In Pines lecture, he addresss active the ascent of frugal value and how it all starts with commodities, the basic building shove of all economic value and goes on to later sing of the progressing levels of economic value all the way to the attend. Pine states that economic value starts with commodities. Commodities, as Pine states, atomic number 18 anything that comes from the ground much(prenominal) as animal, mineral, or vegetable. These items argon extracted and sold in the overt market. Commodities are then used to manufacture goods. In the outgoing some decades, goods touchableise been commoditized and consumers are only worried about price. Customization is the antidote to commoditization. (Pine) Customizing goods turns it into a w ork because it has been manufactured for a proper(postnominal) consumer. Services are now being commoditized. Consumers are continuously worried about price. Pine uses long distance recollect companies and fast feed restaurants as his deterrent examples of services that are change state commoditized because of their warring pricing.

According to Pine, once services have been commoditized it is age to hit to a new level of economic value. (Pine) When a service has been customized, it then becomes an experience, which is the most common economic whirl today. Disney, Las Vegas, themed restaurants, boutique hotels are examples of experience based bus! inesses given by Pine. He goes into further detail by giving much example of experiences such as drinking wine, listening to a circle perform, or even TED itself as an experience. Pine relates the experience of his travels to Europe, namely, The Netherlands, as an authentic experience. He said that the Dutch have told him that Americans ilk their fantasy environments while the Dutch prefer a real authentic...If you want to get a full essay, rove it on our website: OrderCustomPaper.com

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