I definitely agree with Kotler's premise that customers are looking for more than just good service, a low price, and products and services in today's economy. I believe that this is especially true for affluent clients, who have a lot of companies competing for their money. An "experience" consists of not just the actual products or services obtained, but also includes things such as a personal relationship with the person providing those goods, "extras" that make customers feel special and like they are "number one" and unique features which are not available elsewhere.

For example, in the financial services industry, a number of inexpensive trading sites are available online. A customer who wants only the good price and product can take advantage of these sites (such as E-trade, for example). However, many affluent clients would rather hire a financial advisor who will give them personalized recommendations catered specifically to them. They want to develop a personal relationship with their advisor, so that they feel comfortable and that their money is in good hands. Companies such as Ameriprise Financial cater to these customers by encouraging them to work together with one of their advisors to achieve their goals. A good financial advisor will make the clients feel that he or she has their best interests at heart, and that they are working together towards the same financial goals. This "experience" gives companies such as Ameriprise an edge, by providing extra features that are just not available by using a cheaper online trading site.

Another example would be Starbucks. Although the coffee may not necessarily be better than at competitors such as Dunkin' Donuts, I believe that many customers will keep going to Starbucks (and pay a higher price) because of the relaxing and comfortable environment there. This makes customers feel comfortable. They also know that each Starbucks will provide a similar environment, or "experience" for the customer, so there is an element of familiarity that is shared when a customer goes into a Starbucks at any location.

Providing customers with a pleasant "experience" will contribute to building customer loyalty. A client will not keep going to an obnoxious hairdresser, even though she/he may do an excellent job. There is the additional element of being comfortable and friendly with such a person that will keep a customer going back. I believe that if the customer does not value his transactions with a company beyond the simple good and services, it will be easy for other companies to lure him away with a good deal. However, if his relationship with the company means more than just the goods or services provided, he will maintain this relationship and will be much less likely to switch. Although providing an "experience" may be more difficult and costly for a company, in the long run it leads to a loyal customer base, and high customer satisfaction, as well as increased referrals to their friends and family.