Wednesday, February 08, 2006

The Experience Economy and your bottom line...

Knowledge@Emory: "it’s the experience that ultimately drives the profit margin and this is making companies stop and take notice. “The profit potential is a main driver to move to being an experience provider,” Metters explains. “For example, the price of a bottle of Coca-Cola can be anywhere between $0.50 and $5.00, depending on how much “experience” is involved. Selling a warm soda in a supermarket generates $0.50 in revenue, while selling a cold soda at a sporting event generates ten times the revenue. But the price the business paid for the soda remains the same.”"

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