Using Sensory Memorabilia to design Experience Product

Pine and Gilmore (1998) defined experience as a bundle of sensory memorabilia that engages customers’ five senses and delivers a sensory feeling. When a customer buys an experience product, she pays for associating herself with a series of memorable events that an experience provider stages. The main objective of the chapter is to communicate how organizations can develop an independent experience product and offer it in the market. Successful development of experience product requires understanding consumer’s esteem level needs. Consequently, supplier is required to design the product mix considering several aspects of such needs and consumer behavior for the attributes which has emotional component. It further requires engaging the consumers in the process of delivery so that they are associated with the offering. The chapter focuses on the process of developing experience product. The chapter deals with several components of experience product development, the role of experience product in stimulating consumer’s hedonic behavior and multi-sensory component of experience product mix.