The rise of the relationship economy: What it means for brands and brand research

This article explains how brands are now part of the Relationship Economy, where increased connectivity and both personal and online recommendations have disrupted the traditional purchase funnel.

The rise of the relationship economy: What it means for brands and brand research

Iain Stanfield

Introduction

The consultants B. Joseph Pine II and James Gilmore stated that business should be theater, with services representing the stage and goods representing the props to deliver experiences to consumers. They listed changes in economic value; from agrarian economies trading in commodities, through to manufactured goods to the Service Economy. Each change offered a way of differentiating itself from increasingly commoditized, competitive offerings with the belief that, as services become undifferentiated, brands can stand out by delivering high quality experiences that set them...

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