The Experience Economy, according to B. Joseph Pine II and James H. Gilmore
in their 1999 book of the same name, is an advanced service economy which
has begun to sell "mass customization" services that are similar to theatre,
using underlying goods and services as props.
Businesses must orchestrate memorable events for their customers, they
argue, and that memory itself becomes the product - the "experience". More
advanced experience businesses can begin charging for the value of the
"transformation" that an experience offers, e.g. as education offerings
might do if they were able to participate in the value that is created by
the educated individual. This, they argue, is a natural progression in the
value added by the business over and above its inputs.
From: Wikipedia
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EXPERIENCE
ECONOMY