Episode #37 – Exploring the concept of a ‘Gift Economy’

Jack and I sit down to discuss:

• the difference between a market economy and a gift economy
• review the post, “Marketing Lagniappe – Powered by the Gift Economy”
• explore the concepts of ’surplus’ and ‘reciprocity’
• the idea of layering gift economy principles on top of market economy transactions
• preview the next vodcast which discusses a tremendous lagniappe economy example: Izzy’s

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Today’s Lagniappe (a little something extra) – A gift economy is opposite of a market economy.  In a market economy there is an exact exchange of values (quid pro quo).  It is my theory that there is a hybrid called the lagniappe economy that can sit between the two:



Lagniappe defined: A marketing lagniappe,  i.e. purple goldfish, is any time a business goes above and beyond to provide a ‘little something extra’.  It’s that unexpected surprise that’s thrown in for good measure.

How do you stand out in the sea of sameness? How do you win repeat customers and influence word of mouth? What’s Your Purple Goldfish?

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