An experience is not an amorphous construct; it is a tangible product compared to any service, good, or commodity. Many businesses in today’s service economy comprise experiences around their traditional offerings to increase demand. Businesses must, however, build engaging experiences that charge a price to get the full benefits of staging events. This change from selling services to selling experiences will be just as difficult for established businesses to make and endure. Companies will then be forced to improve their offerings to the next stage of economic value unless they want to be in a commoditized company.

Hospitality