Topic:Economic Offerings

From SharedExperienceProject

Contents 1 Topic Highlights 2 Introduction and Motivation 3 Learning Activities 4 Learning Objectives 5 References

Topic Highlights

(What you will learn)

• The possible economic offerings a company can make: 1) commodity, 2) product, 3) service and 4) experience
• What is meant by the term experience economy, and how one designs a true experience
• Perspectives on these topics, particularly as they relate to the business model and to strategy

Introduction and Motivation

(Why learn it)

Having a clear understanding of your economic offering(s) is critical when trying to analyze and describe your business model. Too often, however, strategy managers don't give enough thought to their economic offerings. In this topic, we will discuss a paper in which the four basic types of economic offering are treated explicity and in which the idea of an experience offering is forwarded^[1].

Whether the experience economy fits your company's situation or not, be sure that it is important to consider it in the context of the commodities, goods and/or services you might offer.

Learning Activities

(How the levels of understanding will be gained)

Learning activities for this topic

Type	Name	Direction
Reading	Read before class: Welcome to the Experience Economy	Self-directed
Lecture	What's your economic offering? Your value proposition?	Instructor-directed
Personal activities	Reflection and review, e.g. of the learning objectves below on this page	Self-directed

Learning Objectives

(Levels of understanding to be gained)

Learning objectives for this topic

Level of Understanding	Objective(s)
Very best	Could I analyze a company's offerings and provide a clear half-page summary of their offering(s) based on the concepts in this paper? Could I recommend changes they might make?
Highly satisfactory	Can I link a company's economic offerings to a discussion of its overall business model? Do I know what is meant by the term commoditization of economic offerings? Can I explain why it is important to consider the possiblity of commoditization in my industry? Do I understand what is meant in the paper by the term you are what you charge for?
Satisfactory	Can I define the term experience economy? Can I provide examples of each of the economic offerings? Can I classify an experience based on the "four realms"? Have I understood why it is important to think explicitly about my offerings and those of my competitors?
Maybe just enough to pass	Can I name the four economic offerings? Do I know the difference between them?

References

1. ↑ Pine, B.J. and J. H. Gilmore (1998) Welcome to the Experience Economy, Harvard Business Review, Jul-Aug, 1998, pp. 97-105.