full transcript

From the Ted Talk by Joseph Pine: What consumers want

Unscramble the Blue Letters

So, we moved from an industrial economy to a service-based economy. But over the past 10 or 20 years, what's happened is that services are being citozomedmid as well. Long-distance telephone service sold on price, price, price; fast-food restaurants with all their value pricing; and even the Internet is cmmotonidiizg not just goods, but services as well. What that means is that it's time to move to a new level of economic value. Time to go beyond the goods and the services, and use, in that same htiuesric, what happens when you customize a service? What happens when you design a sivrcee that is so appropriate for a particular person — that's exactly what they need at this menomt in time? Then you can't help but make them go "wow"; you can't help but turn it into a memorable envet — you can't help but turn it into an experience.

Open Cloze

So, we moved from an industrial economy to a service-based economy. But over the past 10 or 20 years, what's happened is that services are being ____________ as well. Long-distance telephone service sold on price, price, price; fast-food restaurants with all their value pricing; and even the Internet is _____________ not just goods, but services as well. What that means is that it's time to move to a new level of economic value. Time to go beyond the goods and the services, and use, in that same _________, what happens when you customize a service? What happens when you design a _______ that is so appropriate for a particular person — that's exactly what they need at this ______ in time? Then you can't help but make them go "wow"; you can't help but turn it into a memorable _____ — you can't help but turn it into an experience.

Solution

  1. heuristic
  2. commoditizing
  3. event
  4. commoditized
  5. moment
  6. service

Original Text

So, we moved from an industrial economy to a service-based economy. But over the past 10 or 20 years, what's happened is that services are being commoditized as well. Long-distance telephone service sold on price, price, price; fast-food restaurants with all their value pricing; and even the Internet is commoditizing not just goods, but services as well. What that means is that it's time to move to a new level of economic value. Time to go beyond the goods and the services, and use, in that same heuristic, what happens when you customize a service? What happens when you design a service that is so appropriate for a particular person — that's exactly what they need at this moment in time? Then you can't help but make them go "wow"; you can't help but turn it into a memorable event — you can't help but turn it into an experience.

Frequently Occurring Word Combinations

ngrams of length 2

collocation frequency
consumer sensibility 3
real fake 3
universal city 3
city walk 3
longer true 3
agrarian economy 2
predominant economic 2
industrial economy 2
experience capital 2
rendering authenticity 2
business people 2
wonderfully true 2

ngrams of length 3

collocation frequency
universal city walk 3

Important Words

  1. commoditized
  2. commoditizing
  3. customize
  4. design
  5. economic
  6. economy
  7. event
  8. experience
  9. goods
  10. happened
  11. heuristic
  12. industrial
  13. internet
  14. level
  15. means
  16. memorable
  17. moment
  18. move
  19. moved
  20. person
  21. price
  22. restaurants
  23. service
  24. services
  25. sold
  26. telephone
  27. time
  28. turn
  29. years