CONCEPT OF EXPERIENTIAL MARKETING

CASIRJ Volume 13 Issue 7 [Year - 2022] ISSN 2319 – 9202 CONCEPT OF EXPERIENTIAL MARKETING Bibin Jacob Research Scholar ABSTRACT As per Schmitt (2000), experience is the occasions that happen in light of feeling (e.g made by the endeavors when the buy). Experience is many times the aftereffect of direct perception or support of exercises - great exercises actually, dream and virtual. Subsequently an advertiser doesn't need to zero in on individual experience alone yet turned on essential contemplating the sort - the sort who need to experience what is furnished and how to furnish it with a serious level of allure (Schmitt, 2000). INTRODUCTION As per Pine and Gilmore (1999) the utilization of experiential marketing as a specialized device is developing with organizations as they accept that it gives an upper hand in contrast with customary correspondence. This was additionally upheld by Kotler (2003). Crafted by Holbrook and Hirschman (1982) on experiential marketing was conveyed forward by Taranto (1998) through his examination on brand experience where he pointed that occasions are progressively being utilized to change discernments and fabricate connections. Through these live brand experiences the customers cultivate a profound connection and make a relationship with the brand. Pine and Gilmore (1999) in his book on "Welcome to the experience economy" made sense of experiential marketing as an essential idea and underlined that simple experience won't give brands upper hand ; the experience ought to be exceptional which gives clients remarkable recollections. These kinds of experiences and recollections won't just draw in clients yet will likewise impact client buy. Wood (2009) endeavored to figure out justification for development of experiential marketing and expressed the reasons as: first and foremost, the over utilization of conventional media and consequently the need to accomplish something exceptional from contenders; furthermore, the purchaser's longing for curiosity, independence; and thirdly, the need to construct a profound connection to brands which can't be separated based on their usefulness. A top to bottom work in the space of experiential marketing was finished by Schmitt (1999) and brought out various parts of experiences: tactile experiences (sense), profound or loving experiences (feel), imaginative mental experiences (think), actual experiences (act) and socialcharacter experiences (relate). The tangible experience iscreated through sight, sound, contact, International Research Journal of Commerce Arts and Science http://www.casirj.com Page 236 CASIRJ Volume 13 Issue 7 [Year - 2022] ISSN 2319 – 9202 taste, and smell. In the event that organizations needed clients to effortlessly separate their items from rivals and underscore item capability and advantages to make item esteem, they would utilize sense. The tender experience is made through feeling. The feelings are given to the making of mind-sets and feelings that stick to the organization and brand. Think has been expressed as third sort of experience in which advertisers draws in clients on a more profound level. Schmitt made sense of that the target for think marketing is to make mental, critical thinking experiences that draw in clients imaginatively. The fourth kind of experience as brought out by Schmitt is act marketing. The motivation behind act marketing is to advance client's lives by focusing on their actual experiences, showing them substitute approaches to getting things done, as well as substitute ways of life and connections. The objective for organizations in utilizing act marketing is to change long haul conduct and propensities for a specific item or administration. The fifth and last sort of experience is relating marketing. The relate marketing extends past the singular's confidential sensations, sentiments, discernments and activities by relating the singular self to the more extensive social and social setting reflected in a brand. These five parts of experiences are associated and organizations should utilize experiential half breeds that join at least two experiences to widen experiential allure. The large test for the organizations is to foster a right mix of these five parts of experience for a specific demography and a specific item class. The work done by Schmitt was additionally analyzed by different scientists in various socioeconomics and determined a few fascinating ends. McCole (2004) in his review concentrated on one of the elements of Schmitt i.e close to home experience and saw that through profound experience a relationship is fabricated which prompts buy aim buy and repurchase. Andreani (2007) likewise upheld the discoveries of Schmitt (1999) and brought up that in experiential marketing, clients can separate one item or administration from one more since they experience themselves profound parts of item or administration during the time spent choosing and consuming the item or administration. Gentile et al. (2007) took forward crafted by Schmitt and recommended that the client experience has six parts that can be investigated by advertisers: • Sensorial Part • Close to home Parts • Mental Part • Sober minded Part: animates acting, utilization of something. • Way of life Part: animates individuals' qualities and convictions through the reception of way of life and conduct. Social Parts: animates connections, public activity, networks, social character, connected with the past part. International Research Journal of Commerce Arts and Science http://www.casirj.com Page 237 CASIRJ Volume 13 Issue 7 [Year - 2022] ISSN 2319 – 9202 The marketers have realized that just stimulating these components are not enough. To be significant, the experiences need to be extraordinary; something which helps people re-define their selves. Gupta and Vajic (2000) brought a new dimension to experiential marketing by introducing the word interaction and stated that “an experience occurs when a customer has any sensation or knowledge acquisition resulting from some level of interaction with different elements of a product or service created by a brand. Their work was supported by Lasalle and Britton (2002) stating that experiential marketing is “an interaction, or series of interactions, between a customer and a product; customer and company or its representative that lead to a reaction”. This reaction emerging from interaction results in building relationship between customer and product. Smilansky (2009) took forward the work of Lasalle and Britton (2002) related to interaction and stated that experiential approach is focused on a two-way interaction in real-time, a live brand experience and thereby a significantly deeper consumer bonding process. In order for brands to facilitate that two-way interaction, the consumer and the brand must be able to engage with each other Pine and Gilmore (1999) looked at experience from a different perspective and identified that retail experiences consist of holistic realms (esthetic, entertainment, education, escapist), which allow flow between the static and dynamic elements within the experiential environment.     Entertainment: watching the activities and/or performances of others Educational: customer enhancement of skills and knowledge through active participation in the experience Esthetics: customer enjoyment of an enriched, unique physical design. Enjoy passively or appreciate “just being in a setting” Escapism: customer shapes or contributes to the experience, which offers the customer a way of taking on a new character These elements provide benefits such as sensory pleasures, feelings of status, privacy and security. In addition, static design elements are represented by the atmospheric/ambient conditions of the store (visual, aural, olfactory and tactile attributes), which are used to increase consumer’s consumption rate and influence customer product evaluations and purchase buying behaviour. The dynamic elements are related to exchange of dynamic information, which is an outcome of human interaction through the customer–staff–store interface. This element helps to create a sense of belonging. A study by Pandey and Darji (2011) for Indian malls revealed that both the static as well as the dynamic parameters hold more or less equal importance in defining a satisfactory experience for the customer. These parameters would help many new entrants in the designing of their store as well as enhancing customer shopping experience. As brought out by the study, it even helps the existing players to make the necessary improvements. International Research Journal of Commerce Arts and Science http://www.casirj.com Page 238 CASIRJ Volume 13 Issue 7 [Year - 2022] ISSN 2319 – 9202 Wu, M. Y., & Tseng, L. H. (2015) looked at experiential marketing from the perspective of gaining customer satisfaction and loyalty. The experience created by marketers leads to customer satisfaction, repurchase and brand loyalty in long run. Cuellar, et al (2015) described that repurchase and loyalty created through experiential marketing leads to increasing sales and profit. These studies covered the entire spectrum of business through the use of experiential marketing i.e customer acquisition to loyalty and sales to profit generation. Understanding consumers and their consumption experiences Understanding purchasers and their utilization experiences with items and administrations, with brands, both in retail and online conditions, is one of the center undertakings of marketing. In any case, experience, as an idea and experimental peculiarity, isn't too settled as different develops and peculiarities in the space of purchaser conduct and marketing like shopper decision, perspectives, fulfillment, or brand value. Despite the fact that we have gleaned tons of useful knowledge about this especially intriguing point, based on the quantity of articles distributed throughout the course of recent many years, marketing research on experience is still moderately immature. Understanding purchaser experiences isn't just important to scholastics. Marketing specialists, as well, have come to understand that bits of knowledge into how purchasers experience items and their brands and, thus, how advertisers can give engaging experiences to their clients, is basic for situating and separating their contributions in the cutthroat climate. This speculation has prompted the formation of another marketing the board region, which is normally alluded to as ''experiential marketing'' (Schmitt, 1999). One of the vital thoughts of experiential marketing is that worth doesn't just live in that frame of mind of procurement (items and administrations), and their utilitarian and useful benefits. Esteem additionally lies in the epicurean and experiential components encompassing the item and administration, and in the experience of utilization itself. Organizations, for example, Apple and Samsung epitomize experiential marketing approach in buyer gadgets; the New Bug and the Smaller than usual brands in the car business; and Abercrombie and Fitch in mass clothing (among numerous others) (Schmitt, 2003). In like manner, scientists and professionals have recognized utilitarian (or practical) and gluttonous (or experiential) esteem (Gentile, Spiller, and Noci,2007). In an influential book, named The Experience Economy, Pine and Gilmore (1999) have contended that experiential worth has been progressively expanding after some time. At a cultural level, monetary worth advanced through three phases. The earliest stage, the ware economy, was worried about the extraction of substances from our general surroundings. Then, beginning with the Modern Transformation in the nineteenth century came the assembling economy, where the essential monetary contribution was the making of items. The assembling economy didn't supplant the item economy completely, however added an extra financial contribution. In the 20th century followed the help economy, where the contributions of most elevated esteem were the conveyance of immaterial administrations. Presently, in the twenty-first century, many created social orders International Research Journal of Commerce Arts and Science http://www.casirj.com Page 239 CASIRJ Volume 13 Issue 7 [Year - 2022] ISSN 2319 – 9202 are entering the experience economy, where the most elevated esteem financial contributions are experiences. In the experience economy, organizations stage noteworthy experiences for clients, which are engaging and instructive as opposed to practical and utilitarian in nature. It is sketchy whether numerous social orders, even the most evolved ones, have entered the experience-economy stage. In many economies, items benefits actually contribute the main part of the financial worth. As opposed to entering another monetary stage, it very well might be more suitable to see what's going on in the present economies and markets as a better approach for marketing items and administrations, and maybe even products like salt, pepper, or produce, as the food retailer Entire Food varieties does. The experiential worth would then not exist in the wares, items, or administrations as such, yet in the marketing of these things. CONCLUSION The term ''experience'' has been defined in more ways than one. Overall, definitions might be arranged comprehensively as falling into two particular, yet related classes. The first use of the term alludes to continuous discernments, sentiments, and direct perceptions. Webster's Third New Worldwide Word reference defines experience along those lines as ''direct perception of or cooperation in occasions: an experiencing, going through, or residing through things overall as they happen over time.'' The subsequent definition alludes to the past, alluding to information and collected experiences after some time - or, as the Webster's Third New Global Word reference states, to ''information, expertise, or practice got from direct perception of or support in occasions: useful insight coming about because of what one has experienced, gone through, or lived.'' REFERNCES 1. Schmitt.; Bernd H. (2003), Customer Experience Management: A Revolutionary Approach to Connecting with Your Customers, 2. Shaw, C. & Ivens, J. 2005. Building Great Customer Experiences: Brandscape 3. Addis, M. and Holbrook, M. B. (2001) ‗On the Conceptual Link between Mass Customisation and Experiential Consumption: An Explosion of Subjectivity‘, Journal of Consumer Behaviour 1(1): 50-66. 4. Cognizant 20-20 insights | february 2015, Customer Experience Management: The New Playbook for Indian Manufacturing Organizations 5. https://study.com/academy/lesson/experiential-marketing-definition-strategiesexample.html 6. https://www.business-standard.com/article/companies/domestic-apparel-market-to-growby-12-on-robust-demand-cmai-118071600951_1.html accessed on 11th June 2019 7. 8. https://www.globenewswire.com/news-release/2018/12/20/1670102/0/en/The-IndianTextile-and-Apparel-Market-Trends-Share-Size-Growth-Opportunity-and-Forecast-to2023.html accessed on 11th June 2019 International Research Journal of Commerce Arts and Science http://www.casirj.com Page 240