Abstract
There are any number of market drivers that affect consumption in society; important market drivers such as globalization, innovation, and technology. From a business perspective, these market drivers have greatly impacted the development of economies of scale, as seen in manufacturing and even within the service economy. As a result, industries often place their primary focus on innovation linked to the efficiency and improvements of the overall delivery performance. While these strategies undeniably produce benefits, the economic achievements most often translate into the erosion of value of many goods and services to the point where
they are becoming increasingly commoditized. Here, no other consumer cohort receives as much attention as the Millennials; a demographic generation born between 1980 - 1999. This far-reaching acknowledgment of the customer experience thus underpins the need for a deeper understanding of the importance of experiences in the context of innovation.
they are becoming increasingly commoditized. Here, no other consumer cohort receives as much attention as the Millennials; a demographic generation born between 1980 - 1999. This far-reaching acknowledgment of the customer experience thus underpins the need for a deeper understanding of the importance of experiences in the context of innovation.
| Translated title of the contribution | Value Innovation in the "New" Era of Experiential Consumption: The Power of Millennials |
|---|---|
| Original language | Chinese (Simplified) |
| Title of host publication | 正版书籍 文化创意：经济增长新引擎 毕尔雅那米科夫文化企业家手册文化经济全球区域经济效益文化产业实 |
| Subtitle of host publication | Genuine Books Cultural Creativity: A New Engine of Economic Growth Bilyanamikov Cultural Entrepreneur's Manual Cultural Economy Global Regional Economic Benefit Cultural Industry Reality |
| Editors | Biljana Mickov |
| Place of Publication | China |
| Publisher | China Renmin University Press |
| Chapter | 2 |
| Pages | 101-106 |
| Number of pages | 5 |
| ISBN (Print) | 9787300286990 |
| Publication status | Published - Mar 2022 |