I really enjoy the TED talks which range from politics and science to arts and economics. This particular presentation focuses on the progression of economic value. The speaker looks out how our economy has changed, an changed again. Initially our economy was based on commodities, and later on our ability to transform those commodities into goods through an industrial process. But over time, people stopped caring who manufactured the goods and price became the most important factor.
Next came services. As the manufactured goods themselves became commodities, companies set themselves apart with value- added services. Such as the ability to customize your offering through elements such as installation, training, warranty. But today, even these elements are becoming commodities. So what is left?
Joseph Pine argues the next step is customize the service to create truly unique experiences.
As we continue to face challenges from our current economy what are you doing to gain a competitive advantage with extraordinary customer experiences?