Abstract
Traditional marketing has been changed with a new approach to marketing called Experiential Marketing. Experiential marketing is also known as "engagement marketing," "event marketing", "participation marketing," or "live marketing". Traditional marketing views consumers as rational decision-makers who care about functional features and benefits. In contrast, experiential marketers view consumers as rational and emotional human beings who are concerned with achieving pleasurable experiences. It is a kind of is a marketing strategy that involves customers directly and inspires them to participate in the development of a brand. This transformation is showing no transformation of slowing down; more and more marketers are moving towards creating experiences for their customers. Therefore experience is an essential element of a today’s customer. Experiential Marketing plays an important role in influencing customer behavior and creates a feeling of satisfaction and loyal base .Thus it’s a very important concept to study. The research article studies various benefits and strategic issues of experiential marketing, also suggestion are drawn therefrom.
Highlights
Introduction“I have learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel”. –Maya Angelou
There is very limited work done in India due to lack of creation of rational experiential approach meant for con2sumer in absence of understanding of emotions
Experiential marketing is to stimulate in active manner, to engage consumer in a personal life experience, to allow them to be receptive with the brand in a personalized environment
Summary
“I have learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel”. –Maya Angelou. Traditional marketing presents an engineering driven, rational, analytical view of customer, product and competition, it is considered as untested and outdated model assumptions. It is hardly a psychological based theory about customer, how they view and react to product and competition. In contrast experiential marketing focus on consumer experience .Experience provide sensory, emotional cognitive behavioral and rational value that replace functional value. There is very limited work done in India due to lack of creation of rational experiential approach meant for con2sumer in absence of understanding of emotions. Experiential marketing is about choosing customers, selling your dreams but here dreams are not a product it is about experience. It allows customer to choose and review the service or product based on its features, but according to their preference, interest by experiencing that product or service
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