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The experience economy

 The experience economy

Experience Audit and Competitor Analysis –Provide an overview of the concept “experience economy” (including transformative experience), and describe how this approach can improve tourist experience offering and thus improve operator competitiveness. Conduct an audit of the existing experiences/settings/tourism providers of the destination and identify providers that can potentially develop exceptional experiences. Undertake a destination competitor analysis of tourist experiences and present the summary of that analysis.

2.3 Audit of existing tourism providers and experiences

Provide an audit of the existing tourism providers and experiences in your destination, in relation to the chosen target market. The audit includes a description of the tourism experience and your evaluation on its level of transformation. A minimum of 4 providers and their product experiences are required. The audit should be presented in a table to reduce word count.
Table: Audit of business providers and experiences
Name of provider Service/Experience description Level of transformation (not transformational, semi-transformational, transformational What makes it transformative (or not)

2.4 Undertake a destination competitor analysis
Identify two other destinationscompeting for the same target market as your destination.
Discuss the competitor footprint (similarities/differences between these destinations), and highlight what is unique about your destination (i.e., unique selling proposition) in terms of offering particular experiences.

Figure: Competitor Footprint

2.5 Recommendations to improve experiences
Make three recommendations on howto improve the provision of transformative experience offerings in your destination.
For example, if you identify tourism experiences that are only semi-transformative or not transformative, you can suggest improvements to the providers. You can also suggest the development of relevant transformative tourism experience based on the identified unique selling proposition for your destination.

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