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[Glossary]
THE EXPERIENCE ECONOMY
According to economists, sociologists and communication and marketing strategists, the so-called ‘service economy’ is transforming itself into an experience economy. Local and global economic models draw less and less on classical images inspired by the assembly line and rely more and more on the human side. Companies are no longer submissive to ‘market demand’, expressed as a rigid representation of simple and defined needs in one or more segments. In fact, in the present situation, needs are difficult to define; they become variable and highly differentiated. Demand appears more and more fragmented. Consequently, companies are obliged to abandon the traditional organisation model to adopt one able to guarantee more flexibility and capable of product personalisation.

In short, to quote Paolo Grigolli (”Quale formazione per un lavoro che cambia?” - Which training for a job that is changing?): “We see today the evolution of a knowledge/industry/information economy where you are working while ‘communicating’.”

Aspects, once considered unrelated to economic language, become fundamentally important in this transition period. The expression ‘lifetime value’ (or LTV), referring to the client, is today a common parameter in the business environment. In this way the sensorial and emotive components, besides the cognitive and rational aspects, are essential for the design and marketing of a product or service. Experience, in fact, must be memorable and, in this sense, must involve the greatest possible number of senses.


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