Design thinking – Experience the economy

Design thinking - Experience the economy

7 May 2018
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In 1998, Joseph Pine said that the next competitive battleground for business would lie in staging experiences for customers.

And 20 years later, he’s been proved right. Because after the periods of the goods economy and the services economy we are definitely now entering the era of the experience economy.

But with every new era comes change and companies had better watch out that they don’t miss the boat.

In today’s economy, added value is no longer intrinsic to the underlying product or service but instead lies in how the customer experience is designed and promoted.

So companies, your mission, should you choose to accept it, is to reinvent marketing!

Don’t panic – work has already got underway and there’s even a designated method for it: Design Thinking.

What’s that you might ask? Well, it’s a method that puts the user experience right at the heart of the thinking process and builds up ideas like a designer.

It could be likened to a set of problem-solving tools that can be used by everyone, from an engineer to an HR manager.

Don’t worry if all this sounds a bit theoretical – it can be summed up in just a few practical steps.

First, identify and understand the problem from the user’s point of view. Then ideate and prototype a concept.

Next comes the iteration phase.
And lastly, combine desirability, feasibility and viability in order to optimise the product, service or experience.

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