JUSTIFICATION OF THE ESSENCE OF EXPERIENCE MARKETING AS A DISTINCT MARKETING STRATEGY AND THE CORE OF A BUSINESS MODEL

Abstract

The article examines the theoretical and practical aspects of experiential marketing as a modern approach to shaping a company’s marketing strategy. The relevance of the topic is determined by changes in consumer behavior, where purchasing decisions are increasingly influenced by emotions, impressions, and perceived value rather than only product functionality. In conditions of intense competition and product standardization, experiential marketing becomes an effective tool for building customer loyalty and sustainable competitive advantages. The study systematizes scientific approaches to understanding marketing strategy and identifies the place of experiential marketing within its structure. Two main approaches are distinguished: the instrumental approach, where experiential marketing is viewed as a tool for enhancing communication and branding, and the strategic approach, where it serves as the core of the business model and value creation process. The research also differentiates experiential marketing from emotional and sensory marketing, proving that it is a broader concept integrating sensory, emotional, cognitive, and behavioral elements into a holistic customer experience system. It is substantiated that within the experience economy, products and services perform a supporting role, while the main source of value becomes the individual consumer experience associated with interaction with a brand. The key characteristics of experiential marketing include sensory engagement, interactivity, personalization, and emotional added value. Such an approach allows companies to reduce dependence on price competition and increase consumers’ willingness to pay for unique experiences. The practical part of the study focuses on the activities of Silpo-Food LLC as an example of successful implementation of experiential marketing in retail. The research demonstrates that the company integrates experiential marketing into all customer touchpoints through thematic store design, retailtainment practices, unique assortments, support for local producers, and omnichannel services. These elements create a consistent emotional experience that strengthens customer loyalty, brand differentiation, and consumer trust, including during crisis conditions.