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7 Examples of Experience Goods

 , December 16, 2017
An experience good is a product or service that is difficult to evaluate in advance in areas such as price and quality. If you sell an experience good, reputation, customer loyalty and word of mouth is extremely valuable as these are the primary things that customers can use to make purchasing decisions. The following are illustrative examples of an experience good.


It is difficult to tell how a haircut will work out until it's done. A customer who has a positive experience is likely to return.


A patient may have little idea about the talent, equipment, philosophical and process differences from one hospital to the next. In a country where medical treatment isn't free for residents, the price may also be a mystery.


Historically, restaurants were often used by economists as prime examples of an experience good. However, the number of restaurant reviews and ratings now available in digital formats has removed much of the uncertainty.


Travel experiences such as an day tour are often difficult to evaluate upfront.

Legal Services

The total cost of legal services and performance of lawyers.


Profession advice such as investing recommendations are often best evaluated based on actual results.

Information Products

Information products such as a self-improvement book.


Experience goods relate to economics and the information consumers use to make decisions. It should not be confused with the experience economy.
Experience goods are similar to credence goods. The difference is that credence goods are difficult to evaluate even after the service has been fully delivered. For example, vitamins that are supposed to make you generally more healthy.
Overview: Experience Goods
DefinitionA product or service that is difficult to evaluate in advance of purchase.
Related Concepts


This is the complete list of articles we have written about goods.
Brown Goods
Capital Goods
Club Goods
Common Goods
Common Resources
Complementary Goods
Consumer Durables
Consumer Discretionary
Consumer Goods
Consumer Staples
Digital Goods
Consumer Products
Durable Goods
Economic Goods
Experience Goods
Final Goods
Fashion Goods
Goods & Services
Finished Goods
Inferior Good
Intangible Goods
Information Good
Luxury Goods
Merit Good
Knowledge Product
Public Goods
Search Good
Social Goods
Natural Resources
Soft Goods
Necessity Goods
Substitute Good
Perfect Substitute
Superior Goods
Unsought Goods
Sporting Goods
Veblen Goods
White Goods
Virtual Goods
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The common types of goods.

Unsought Product

An overview of unsought products.


The definition of commodity with examples.

Durable Products

The definition of durable product with examples.


A few examples of what is meant by FMCG.

Search Good

The definition of search good with examples.

Digital Goods

The definition of digital goods with examples.

Examples of Superior Goods

The definition of superior goods with examples.

Economic Bad

Common examples of an economic bad.

Customer Experience

An overview of customer experience with examples.

Product Experience

The common types of product experience.

Customer Focus

A definition of customer focus with examples.

Tacit Needs

A definition of tacit needs with examples.

Experience Economy

A definition of experience economy with examples.

Critical To Quality

A definition of critical to quality with examples.

Perceived Value

The definition of perceived value with examples.

Customer Service Improvement

The common ways to improve customer service.

Customer Service Improvement Plan

Detailed examples of customer service improvement plans.
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