The Importance Of Experience Marketing

Improved Essays
Companies are struggling with determining what paths they should take in their marketing campaigns. Today’s consumers are less effected by advertisements, they have become immune to commercials and no longer read newspapers or magazines. There are theories and marketing techniques that have been developed in order to determine; how to attract new customers, how to create brand loyalty, how to influence consumer to consumer relations, and what is the best way to market to the “new age” consumer. This paper evaluates a form of marketing, that has potentially solved these issues, known as experience marketing.
Experience Marketing has been defined in many different ways. Authors Gentile, Spiller and Noci define it as “a set of interactions between
…show more content…
Red Bull used extreme sports events to attract new customers. Disney has built a dynasty by marketing their theme parks as living their movies in reality. So why has experience marketing been so successful for business. There are five key points that influenced the growing success of experience marketing; globalization and consumerism, access to information, consumer to consumer communication, the new consumer, and the consequences. (Basco, 2015)
Globalization and consumerism have created many different options when it comes to purchasing products, if one were to search the internet for a specific product they would probably find a number of different versions of that product that all did the same thing. So companies are having to find ways to separate themselves from competitors. Experience marketing is thought to accomplish this because it provides consumers with a pleasurable experience when buying the product. Access to information, has allowed consumers to learn a lot about products before purchasing them. (Basco,
…show more content…
So companies have to do more than simply inform consumers about the product, they have to create a desire for the product through a different channel. Experience Marketing is thought to provide that other channel, because it intends to create a desire for purchasing the product not just using it. With the rise of social media consumer to consumer relations has played a bigger part in the consumer buying process. The average consumer is less and less affected by what companies say in their advertisement’s, consumers are more influenced by what other consumers say. Experience Marketing can take advantage of this by providing an emotional experience to potential consumers and those consumers sharing that experience with their friends. (Basco, 2015)
The “new age” consumer is probably the biggest reason for experience marketing. Studies have shown that millennials or generation Y are more influenced by experiences than physical products, meaning that they would rather pay for a memorable experience than a product, like a new car or computer. Thus making experience marketing a good fit for today’s generation. Lastly there very few other directions in marketing that have shown the type of success the experience marketing has, so there are more consequences in not adapting to the marketing and implementing experiences into the marketing mix. (Basoc,

Related Documents

  • Improved Essays

    Tivo Case Study Tv's Case

    • 861 Words
    • 4 Pages

    TiVo’s new features offered consumers the opportunity to not be limited by networkers. However, changing consumer habits was extremely difficult. Most consumers are satisfied if a product is “good enough,” so they do not see a reason to switch. In TiVo’s case, on-demand television was new, but few really switched. Moreover, TiVo’s marketing campaign did not succeed as it was more difficult to explain the features of TiVo than to experience them, generating limited interest.…

    • 861 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    When Disney releases a well-made animated film, it will publicize it vigorously to seek box office revenue. It gains the first round of income by issuing copies and videotapes. Then it will develop subsequent products. Disneyland comes first. When it releases an animated film, a new character will appear in Disneyland, so that tourists can visit it happily amid the atmosphere jointly created by film and Disneyland.…

    • 1192 Words
    • 5 Pages
    Improved Essays
  • Decent Essays

    When the consumer has the strong loyalty of any company brand they will tend to rely on that brand, although competitors in the market will try by all means to convenient the customer through offering them with low price then consumers will buy the brand (Romaniuk, & Nenycz-Thiel, 2013). Then brand loyalty of the consumer for that brand will be increase, and their vulnerability will be decreased in the continuity to buying that brand as a symbol of the consumer brand loyalty. However, some customers don’t see this as the most accurate way of consumer brand loyalty because some consumers are habitual buyer of certain brand base on the advertisement and promotions. According to Binninger, (2008), brand loyalty has six different components which includes the biased, social response, units of consumer decision making and availabilities of different brand of psychological process. Consumer’s attitude and their behaviour can affects brand loyalty through various factors such as brand name, pricing, product quality, environmental issue, promotion and quality services…

    • 876 Words
    • 4 Pages
    Decent Essays
  • Improved Essays

    The consumer doesn’t feel like the company cares about the individual, but more so about making money. Without that two-way conversation, companies do not get that feedback letting them know what the consumer want, which could ultimately increase their sales. Social media gives that two-way communication that consumers yearn for. Consumers can use their Twitter or Facebook account and directly tell the company what they like or dislike about the product being sold. Also, rather than getting brand messages, you get recommendations from friends in the form of reshares and recommended posts, which de-commercializes the brand message.…

    • 1081 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    The Importance Of Branding

    • 1128 Words
    • 5 Pages

    As the time grows, customer loyalty also increases, which in turn results in customer making more purchases in either shorter time spans, or either in larger quantities. Customer loyalty also protects the brand from competition. It’s straight forward, if a customer is brand loyal, he will refuse products from the other brands. Not only that, the customer will also produce new customer unconsciously by giving away product review in peer meetings or through social network posts. On the digital media front, reliable customers also go out of the way and share the product videos, concepts, or their own ideas about the product and help promote the brand even further.…

    • 1128 Words
    • 5 Pages
    Improved Essays
  • Decent Essays

    Problem: On analysing their homepage heatmap, we can see that there were very few clicks on the main area of the homepage, despite this being where they majority of the promotions were. The majority of clicks were in fact on the side navigation which listed product categories. Hypothesis: Customers wanted to discover new, tempting items rather than search for specific items but the side navigation didn’t meet these browsing needs. Visitors wanted it to be clearer and more suited to their habits. Implementation: Presenting browsers with a clear path to products, relevant to them, will increase conversion rate and aligning the main navigation with popular and profitable conversion paths will result in higher revenue per…

    • 1031 Words
    • 5 Pages
    Decent Essays
  • Improved Essays

    Formerly, compatibility with a vested interest leads to rejecting new technologies. People contribute to creating new things or ideas that they know people will accept. For instance, if Apple stops creating new phones, tablets, laptops, and accessories they will not be satisfied with the outcome. Therefore, this demonstrates that people only tend to use devices that are at the top rank. If a person makes a purchase and the item he or she bought is not successful, then Apple or Samsung will begin to lose customers.…

    • 963 Words
    • 4 Pages
    Improved Essays
  • Brilliant Essays

    It targets this generation with bold and innovative flavors and packaging. This generation was targeted because of it of the risks they will take for new products as well as their knowledge and use of technology. They are less loyal too brands previously tried and are always looking for the next product or service to try. The juvenile of this generation has as much or even more say about the products that are purchased in each household as well, so companies have tried use this information to market themselves; but Doritos are the ones doing it in the most effective way. Technology platforms are where companies are marketing themselves more than ever.…

    • 3555 Words
    • 15 Pages
    Brilliant Essays
  • Improved Essays

    Swot Analysis Of Garmin

    • 1053 Words
    • 5 Pages

    Currently I am featuring large end cap displays that are custom build for retailers that employ large high definition screen that play videos supporting the products capabilities. The use of digital signage is a trend that allows businesses to capture the attention of customers and market specific products to them (Kooser). Lastly the area that marketing that has become a vast opportunity would be in regards to social media. Although this outlet is still very immature and unknown many companies have found much success in getting the attention of a younger audience. Garmin has taken the stance that social media is the technology that enables the marketing technique of word of mouth to the next level.…

    • 1053 Words
    • 5 Pages
    Improved Essays
  • Superior Essays

    After realizing what consumers expect from the product Global Tech must strive to answer that demand. Location is another important aspect of marketing and using social media is a way for Global Tech to be visible to the consumer Traditional marketing and advertising operations involving cost and price concerns, consumer approval, campaigns, and mass-market advertising are important to Global Tech’s marketing strategy. The objective of traditional marketing is to make your product or service known by potential customers. Social media serves as a more effective tool to help marketing achieve this goal. While social media is a better more efficient way, it is just a tool in the marketing arsenal (Sannino, 2011).…

    • 1262 Words
    • 6 Pages
    Superior Essays

Related Topics