Description
This is presentation about the experience marketing.
Sumit Singh
Experience Marketing
The basic aim of any company is to increase its sales. These days, companies are trying to sell the experience rather than product. Once the consumer purchases a durable product then it will take a long time when he will again buy any similar product. Companies these days are trying to sell experience, by selling experience along with the product the companies are making sure that customer sells this experience to other consumers and hence creating the ripple effect. The consumers are willing to pay a premium for the experience for example home made coffee hardly costs Rs. 2, if you buy it from local coffee shop then it will cost you around Rs. 5 which is reasonable but if you buy it at cafe coffee day, barista or star-bucks it will cost you in excess of Rs. 30. So basically consumer is willing to pay 500% more than the local coffee shop also the consumer is taking the experience with him and spreads a word about these places. Similarly, no person goes to disneyland for the rides and goodies they sell there, but to have an experience with their closed ones, and the disneyland is providing exactly the same. The experience can be used to boost sales of non-experience goods and services. Companies like Apple is basically selling the experience. If you closely watch their ads they clearly reflects that Apple is not selling their iPod, Mac, iPad, or iPhone. They don’t show the features of their products. They just show that buying an Apple product will put you in an elite class, a class in which only a few people are allowed to enter. The customers are paying a premium for Apple’s products although researches have shown that the performance of Apple’s product is equivalent if not less than the other products in the similar category by other companies. Usually it is seen that the companies, which are selling experience by the means of products, are
Sumit Singh
adopters, they adopt an existing product and improve it and sell it to customers. For instance Apple iPhone was not the first phone in the market but it literally redefined the mobile phones. Sony is charging for the experience that they sell to their consumers. The consumers will boost their HD-LED TV in their drawing room and doing indirect marketing for Sony. Google, is selling the experience with its easy to use interface. People are attracted with whatever google comes up with. Initially experience, rather than the superior searching capabilities helped google to become known to the world. Similarly, ferrari is selling the experience to their customers rather than the product. It is important to sell the experience, as in this competitive market others will come up with similar or better product than you are offering. If you are able to sell the experience then consumers will turn back to your products and also create a ripple effect for your products.
doc_866860467.doc
This is presentation about the experience marketing.
Sumit Singh
Experience Marketing
The basic aim of any company is to increase its sales. These days, companies are trying to sell the experience rather than product. Once the consumer purchases a durable product then it will take a long time when he will again buy any similar product. Companies these days are trying to sell experience, by selling experience along with the product the companies are making sure that customer sells this experience to other consumers and hence creating the ripple effect. The consumers are willing to pay a premium for the experience for example home made coffee hardly costs Rs. 2, if you buy it from local coffee shop then it will cost you around Rs. 5 which is reasonable but if you buy it at cafe coffee day, barista or star-bucks it will cost you in excess of Rs. 30. So basically consumer is willing to pay 500% more than the local coffee shop also the consumer is taking the experience with him and spreads a word about these places. Similarly, no person goes to disneyland for the rides and goodies they sell there, but to have an experience with their closed ones, and the disneyland is providing exactly the same. The experience can be used to boost sales of non-experience goods and services. Companies like Apple is basically selling the experience. If you closely watch their ads they clearly reflects that Apple is not selling their iPod, Mac, iPad, or iPhone. They don’t show the features of their products. They just show that buying an Apple product will put you in an elite class, a class in which only a few people are allowed to enter. The customers are paying a premium for Apple’s products although researches have shown that the performance of Apple’s product is equivalent if not less than the other products in the similar category by other companies. Usually it is seen that the companies, which are selling experience by the means of products, are
Sumit Singh
adopters, they adopt an existing product and improve it and sell it to customers. For instance Apple iPhone was not the first phone in the market but it literally redefined the mobile phones. Sony is charging for the experience that they sell to their consumers. The consumers will boost their HD-LED TV in their drawing room and doing indirect marketing for Sony. Google, is selling the experience with its easy to use interface. People are attracted with whatever google comes up with. Initially experience, rather than the superior searching capabilities helped google to become known to the world. Similarly, ferrari is selling the experience to their customers rather than the product. It is important to sell the experience, as in this competitive market others will come up with similar or better product than you are offering. If you are able to sell the experience then consumers will turn back to your products and also create a ripple effect for your products.
doc_866860467.doc