Experience Economy Strategies: Adding Value to Small Rural Businesses
Many Extension programs designed to enhance rural economic development have focused on development of value-added goods, particularly agricultural goods. The Experience Economy perspective suggests that economic development should also include value-added consumer experiences offered by an array of small rural businesses, such as retail, hospitality, tourism, and restaurant establishments. This article introduces Experience Economy strategies and elements of business offerings that create experiential value and provides a tool to help small business operators assess and enhance their experiential offerings that generate value for consumers.
This article is published as Fiore, A.M., Niehm, L., Oh, H., Jeong, M., & Hausafus, C. Experience economy strategies: Adding value to small rural businesses. Journal of Extension, 45 (2). Available at http://www.joe.org/joe/2007april/iw4.shtml. Posted with permission.