Strategic Management of Innovative Development of Enterprises According to the Experience Economy Model: A Review

Abstract

The relevance of the research topic is due to the fact that modern enterprises are increasingly focused on creating unique experiences for consumers as a strategic tool for competitiveness. The experience economy model is defined as a management approach that aims to create and manage the impressions and emotions that consumers receive when interacting with brands or businesses. In this context, the study conducts a bibliometric analysis of the issues of strategic management of innovative development of enterprises based on the experience economy model from 2000 to 2023. Based on keywords, we first selected 732 articles from the Web of Science (WoS) database. Only articles in English were included, and we used PRISMA guidelines to reduce the number of articles to 562. We focused on citations, publication frequency, topics, trends and issues. The papers were analysed for reliability. For validity, we used the possibility of transferability. We also used content analysis of frequently cited articles. Our analysis revealed three notable trends. The first trend was the experience economy model. The second topic was strategies for managing customer experience. The third was the use of psychological aspects in shaping brand impressions. The results of the content analysis showed that the main topics of the articles included the analysis of the impact of impressions on consumers and partners, experience management strategies and psychological mechanisms in this process. We found that the use of an exclusively bibliometric review led to a broad conceptualisation of experience economy issues, focusing primarily on efficiency and effectiveness. In addition, we applied critical theoretical frameworks to conduct a more comprehensive analysis of the emerging issues identified through bibliometric analysis.