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
• Overall shopping experience - McTaggart
Questionnaire - Naumman’s Model
(1995)
Price
Product
Quality
Customer
s
Perceptio
n of Value
Image
Service
Quality
Price
•
•
•
•
The prices of the products
Price reduction/sales
Special promotions
The availability of store/loyalty cards
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
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
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
Q1 Name a supermarket retailer
that you feel offers good value
Discounters
•
•
•
•
Aldi
Lidl
Netto
Kwiksave
Morrisons & Asda
M o r r i so n s
A sd a
P r oduct Qual i t y
P r oduct Qual i t y
I mage
Ser vi ce
I mage
Ser vi ce
P r i ce
P r i ce
Sainsbury & Tesco
T e sc o
S a i n sb u r y
P r oduct Qual i t y
P r oduct Qual i t y
I mage
Ser vi ce
Ser vi ce
I mage
P r i ce
P r i ce
Waitrose & M&S
Wa i t r o se
M&S Food
P r oduct Qual i t y
Prodct Quality
I mage
Ser vi ce
P r i ce
Image
Service
Price
Supermarket
•
•
•
•
•
•
Value is …..
Asda Service and Price
Morrisons Price
Sainsburys Product Quality and Image
Tesco Price and Product Quality
Waitrose Product Quality and Service
M&S Food versus Fashion
Marks and Spencer
M&S Food
P r oduct Qual i t y
Prodct Quality
Image
Service
Price
I mage
Ser vi ce
P r i ce
Food v Fashion
Product Quality
Image
Service
Price
Supermarkets
Fashion Retailers
References
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•
•
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•
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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. 810.
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. 222.
Any Questions