Experiential Marketing

3193 Words Nov 21st, 2012 13 Pages
FOX, Chantz Christian
Creating and Sustaining Customers Through Experiential Marketing

Introduction Marketing is an evolutionary and fluid process that needs to be continually adapted to consumers in order to keep them coming back time and time again. With increased competition and volatility on a global scale companies must strive to differentiate themselves from competitors. Managers should be aware that consumers are changing at an increasing rate as they become more informed, and should shift from a product and service orientation to a consumer focused orientation. Simply focusing on an exchange is no longer applicable in today’s economy. Pine and Gilmore (1998, p. 97) have stated that we have entered the “experience economy”, and
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The efficiency and cost effectiveness of staging internet experiences will allow marketers to get instantaneous and up to date information, as well as educate, demonstrate, or provoke reactions from their target audience while also building lasting relationships (Smilansky, 2009, p. 126)

Hedonic and Utilitarian Responses In order to create and maintain lasting relationships marketers and stimulate consumer interest marketers must first identify and adapt to consumer preferences and behaviors. Two distinctive behaviors of consumption can be identified as hedonic and utilitarian responses. Hedonic responses are “subjective and personal” (Babin, Darden, and Griffin, 1994, p. 646), and describe as, “those facets of consumer behavior that relate to the multi-sensory, fantasy, and emotive aspects of one’s experience with products” (Hirschman and Holbrook, 1982, p. 92). In addition, values of hedonic consumption tend to have a “fun and playfulness” (Holbrook and Hirschman, 1982 cited in Babin, Darden, and Griffin, 1994, p. 646) where consumers receive enjoyment from the leisurely activity of shopping (Bäckström, 2010) whether they make an actual purchase or just casually browsing the newest fashion at the local department store. Utilitarian consumption values on the other hand can be expressed as purchasing products in a “deliberant and efficient manner” and “described by consumers as ‘an errand’ and ‘work’ where they are happy simply to