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Instant MBA by Nicholas Bate

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3. What’s the experience?

It’s not about service—it’s about the experience. Disney got it. Starbucks gets it and, increasingly, so does M&S. Do you get it and, more importantly, can you create it?

A wow experience, that is. Something which causes your customers to feel a positive tingle, to come back and back and back. And you just take more money to the bank.

It’s a tough old global market out there: the competition gets tougher and tougher. Customers get choosier and choosier. And product differentiation is harder to maintain. But, wait: at the ‘hard’ product level that is certainly true, a latte is still a latte. A small hatchback is just a small hatchback, a bank is a bank. OK, you can add an extra shot to your latte or free SatNav to your ...

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