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Experience Economy

Experience Economy. What does the consumer want? Christine Harris & Kathryn Shipway Bournemouth University. Value to experience. Attributes of the product – Dodds et al 1991, Gale 1994, Zeithaml 1988 Encompass service and image Naumann 1995 Bundle of attributes – Snoj et al 2004

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Experience Economy

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  1. Experience Economy What does the consumer want? Christine Harris & Kathryn Shipway Bournemouth University

  2. Value to experience • Attributes of the product – Dodds et al 1991, Gale 1994, Zeithaml 1988 • Encompass service and image Naumann 1995 • Bundle of attributes – Snoj et al 2004 • Overall shopping experience - McTaggart

  3. Questionnaire - Naumman’s Model (1995) Price Customers Perception of Value Service Quality Product Quality Image

  4. Price • The prices of the products • Price reduction/sales • Special promotions • The availability of store/loyalty cards

  5. Product Quality • Variety and assortment of products • The quality of the products available • The general layout of the store • The general location of the stores

  6. Service Quality • Shops restocked regularly and always full of goods • The knowledge of the staff • The returns policy • The helpfulness and availability of the staff

  7. Image • The quality of the stores or retailers advertising. • Regular introductions of new ranges • Their involvement in the local community (Sponsorship and Vouchers) • The overall image of the store

  8. Q1 Name a supermarket retailer that you feel offers good value

  9. Aldi Lidl Netto Kwiksave Discounters

  10. Morrisons & Asda

  11. Sainsbury & Tesco

  12. Waitrose & M&S

  13. Supermarket • Value is ….. • Asda Service and Price • Morrisons Price • Sainsburys Product Quality and Image • Tesco Price and Product Quality • Waitrose Product Quality and Service

  14. M&S Food versus Fashion

  15. Food v Fashion

  16. References • Dodds, W., Monroe, K. and Grewal, D. (1991) 'Effects of price, brand and store information on buyers’ product evaluations', Journal of Marketing Research, Vol. 28, No. 3, pp. 307-319. • Gale, B. (1994) Managing Customer Value. The Free Press % Journal Article, New York. • McDougall, G. and Levesque, T. (2000) 'Customer satisfaction with services: putting perceived value onto the equation', Journal of Services Marketing, Vol. 14, No. 5, pp. 392-410. • McTaggart, J. (2005) 'Perceptions of Value', Progressive Grocer, Vol. 84, No. 12, pp. 8-10. • Naumann, E. (1995) 'Creating Customer Value; The linkage between customer value, customer satisfaction, customer loyalty, and profitability'. • Snoj, B., Lorda, A. and Mumel, D. (2004) 'The relationships among perceived quality, perceived risk and perceived product value', Journal of Product and Brand Management, Vol. 13, No. 3, pp. 156-167. • Zeithaml, V. (1988) 'Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence', Journal of Marketing Research, Vol. 52, No. 2, pp. 2-22.

  17. Any Questions

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