CRI 100 Lecture Notes - Lecture 11: The Experience Economy, Creative Class, Patty Jenkins

• School: Ryerson University
• Department: Creative Industries
• Course: CRI 100
• Professor: Louis- Etienne Dubois

Document Summary

Innovation radar: 12 categories that companies focus on. Innovation: not an invention, but taking an already existing thing and improving it: offerings (what), platform, solution, customers (who), customer experience, value capture, process (how), organization, supply chain, presence (where), networking, brand. Some observers believe the present economy differs significantly from previous economies: creative economy, creative industries, creative class (many authors, cognitive-cultural capitalism (scott, experience economy (pine and gilmore) Search goods: a good that you can select on the basis of some kind of specification that allows you to know e(cid:454)a(cid:272)tl(cid:455) (cid:449)hat (cid:455)ou(cid:859)re getti(cid:374)g (know the value of the product; ex. Experience goods: value cannot be communicated through price, functional specifications, or credence mechanisms, therefore, customer cannot determine value before consumption, consumption is risky, and so is production, markets for e(cid:454)perie(cid:374)(cid:272)e goods ha(cid:448)e pe(cid:272)uliar (cid:862)(cid:449)i(cid:374)(cid:374)er takes it all(cid:863) characteristics. Freelance is not just a new generation phenomenon, it cuts across demographics.