Definition : Expectation economy

The expectation economy refers to the current economic landscape in which consumers have high expectations for the products and services they purchase. This is largely due to the rise of technology and social media, which have made it easier for consumers to compare and share their experiences with others. As a result, companies must not only meet the basic needs of their customers, but also exceed their expectations in order to stay competitive. This has led to a shift in focus from simply selling products to creating personalized and exceptional experiences for customers. In the expectation economy, customer satisfaction and loyalty are key drivers of success, making it essential for businesses to constantly innovate and adapt to meet the ever-evolving expectations of consumers.

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