Choice Review

Expanding on their first edition (CH, Dec'99, 37-2254), Pine and Gilmore argue passionately that true economic growth requires value creation by producing experiences that go beyond the basic products and services themselves. The call to action stems largely from the fact that most of today's products and services are so alike that intangible and subjective factors (i.e., experiences) have ever-increasing influence on an offering's success. Thus, businesses must do a better job of translating product/service features into benefits, given that consumers favor brands that promise the greatest perceived value. According to the authors, the ultimate economic offering is a transformation, or what results from customizing an experience. A transformation is the lasting effect created by a series of experiences. They use many examples to bring their thoughts to life. From start to finish, the book is thought-provoking. One of the greatest challenges for marketers has been to achieve meaningful differentiation by, among other things, making preemptive strikes. For them, this book's message bears repeating: consumer value and satisfaction stem not from products and services themselves, but from the experiences they provide. Although a bit theoretical and sometimes difficult to follow in its reasoning, this work is an enjoyable treatise that sparks considerable reflection. Summing Up: Recommended. Researchers and practitioners. N. A. Govoni Babson College