Understanding the Mobile Experience Economy: A key to richer more effective M-Business Technologies, Models and Strategies

A major challenge for firms these days is how to differentiate themselves in a global market and build competitive advantage. Many firms have been able to move up the value chain from a services base to an experience base as a means to attaining high levels of customer satisfaction and profitability. Consequently a better understanding of the experience economy will assist business managers and designers to develop effective strategies by focusing on the m-business experience and how this experience can build sustainable technology innovation, business models and strategies, and help design products for mobile delivery to meet the market´s needs. In this paper we describe several experience economy models, identify their weaknesses, and introduce a new cognitive based experience model that can be used to develop more effective m-business infrastructure and applications. It offers a new understanding of experiences which emphasizes cognition as a whole which includes background knowledge, desires and intentions, rather than the sensory and perceptual aspects alone which are the focus of most traditional models. As a result the new model offers new predictive and explanatory power in understanding the m-business experience economy.