Even though you've heard about the New Economy, the Experience Economy, the Surprise Economy, the Attention Economy, the Leisure Economy and so on, we can't help but throw yet another Economy your way: the EXPECTATION ECONOMY. Capturing the essence of 2008's demanding consumer arena, it is—surprise, surprise—all about those pesky, demanding consumers:

"The EXPECTATION ECONOMY is an economy inhabited by experienced, well-informed consumers from Canada to South Korea who have a long list of high expectations that they apply to each and every good, service and experience on offer.

Their expectations are based on years of self-training in hyperconsumption, and on the biblical flood of new-style, readily available information sources, curators and BS filters. Which all help them track down and expect not just basic standards of quality, but the 'best of the best'."

The EXPECTATION ECONOMY has been building slowly in the background. The biggest difference from five to ten years ago? Word of mouth now travels the world in a flash, making product launches instantly global, turning every new brand—big or small—into a potential 'player', and most importantly, rewarding exceptional performance with immediate interest and approval from consumers. Basically, Joseph Schumpeter's 'Creative Destruction' on steriods.

In fact, never before has intelligence on the best, the cheapest, the first, the most original and the most relevant been so openly available to consumers. And never before have consumers enjoyed doing research and 'competitive analysis' as much as they do now, and doing it far more diligently than most corporations do.

Read the full article at:
http://trendwatching.com/trends/expectationeconomy.htm