This website uses cookies to ensure you have the best experience. Learn more

Marketing Myopia Essay

2962 words - 12 pages

Marketing Myopia
                         Marketing Myopia
                              Marketing Myopia means  means short-sightedness in a business.
Introduction 
According to Levitt, (1960) “Marketing myopia means short sightedness, narrow view of marketing and its environment in a business”. This type of advertising plan does not have anything to do with the customer’s requirement; however the will of an organization is to sell specific product or services within the economic market, Osmand, (2003). It inclines a business to specialize in what it desires instead of what the shopper desires and tends to form a culture that's immune to modification, each usually end in a loss of name, ...view middle of the document...

When we interact with our customers, perceive their views, we’ll be able to perceive the ideas that resonate and inspires. Specializing in the mind of your client puts you within the right place to capitalize once that concept surfaces. The customer’s expertise defines your product; his perspective alone describes your worth. Ultimately, his selections derive your success, Understanding your processes defines you as a merchant. Understanding the client defines you as a merchandiser.
 “Selling focuses on the requirements of the vendor, selling on the requirements of the buyer” Michel, P., (2012).

Q1. What are the key failings in marketing as a business practice perceived by Levitt in 1960? Levitt, (1960).
This means the most important problems in a business practice. The failure started at the top, which is that the management failed. Most of the things done in the business practices as perceived are not looking at the customer aspect rather they are looking at the product aspect Kolter & Singh (1981).

KEY FAILINGS
         They had a poor management failure not because the market is not saturated but because of their own MYOPIA, Michel, P., (2012).
         They lacked thinking ability, Payne & Whittaker (2006).
         They looked at the product which was supposed to be developed but never developed it which means that they were not looking at the long term rather they were looking at the short term which is myopic. Example the petroleum.
         The situation of the railroad transportation worsened very bad because “they were railroad oriented instead of product oriented; they were product oriented instead of customer oriented and as result of that their customers were taken away by their competitors, Payne & Whittaker (2006).
         They were product oriented than customer oriented, not concerned about the customer wants and there was more on supply and less in demand.
         They lack imaginative skills of thinking how the rail road can grow in the future also to the Hollywood who lacked skills of thinking how they can become a good entertainer rather they assumed to be producing films.
         They never saw the product as holistic but narrow example is the Fuel industry not seen as petroleum but seen as energy business and that of holly wood not seen as producing movie but as entertainments and also fail to look at the industry from a marketing perception, Payne & Whittaker (2006).
         There is a misconception of manufacturer’s; they only think about that particular product they don’t see the category of the product.
       Poor product: They were unable to conduct a perfect product research, knowing the kind of products needed by their customers which causes failure to the business and cannot have a good sale in the market.
According to Kolter & Singh (1981) “Market research consists of testing the market to see the acceptance of a selected product or services, particularly...

Other Papers Like Marketing Myopia

Marketing Orientation Essay

1728 words - 7 pages unaware they want, and then marketing them products as high quality must-haves. As with every orientation the product orientation has its disadvantages. A limitation to this orientation is it may lead to marketing myopia as suggested by Kotler and Armstrong (2001:18). Marketing myopia as postulated by Levitt (1960: 45-56) is the route in which businesses fail due to complacency and a short-sighted mind-set of fully understanding what business

Conserve Essay

578 words - 3 pages that offer the most quality, performance, and features. As the Converse companies, they understand continuous devote its energy to improve their product can make the market different economic income. However, focusing only on the company’s product can also lead to marketing myopia. For instance, the organization mistake of paying more attention to the specific product offers than to the benefits and experiences produces by these products. As the

Marketing

606 words - 3 pages experiences offered to a market to satisfy a need or want  include products and services  includes other entities, such as people, places, organizations, information, and ideas marketing myopia: mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products  failure by

Marketing Mcbride

629 words - 3 pages suffer from marketing myopia. They are so taken with their products that they focus only on existing wants and lose sight of underlying customer needs.” (p. 7) McBride would benefit from knowing what their customers need instead of focusing on what they would prefer to offer their customers, resulting in a higher number of loans that could be serviced in their market. CONCLUSION McBride Financial Services has selected their target regional market

History of Arnis

1498 words - 6 pages . Since 1950s marketing is being exercised and consumer gets what they want that leads to the era of relationship since 1990s where customers are the most important person in a company that they listen to them and develop relationship. Sometimes, management fails to recognize the slope of its business which results to marketing myopia. However, this marketing myopia can be avoided by developing broader marketing-oriented business ideas focusing

Explain The 5 Marketing Concepts

1090 words - 5 pages disadvantage of this concept is that firms adopting the product concept, tend to focus too much on the product and this can lead to marketing myopia. Buyers might be looking for a better solution to a problem, but not necessarily a better product in that category.The selling concept states the idea that consumers will not buy enough of the product unless the firm undertakes a large-scale of selling and promotional effort. Firms adopting this philosophy do

Trap-Ease America Case Study

587 words - 3 pages housewives often visit these kinds of supermarkets. Other items of marketing mix, in my opinion, can be remained the same. 5. The Trap-Ease America’s competition is the producer of traditional, spring-loaded trap as its price is cheaper than Trap-Ease’s and it is the perfect substitute of the Trap-Ease. 6. The company is facing marketing myopia and its marketing strategy is too product-oriented but not customer-oriented. Martha cares about how to

Trap-Case Mousetrap

568 words - 3 pages change Trap-Ease marketing strategy? What controls (i.e. means of monitoring) would you establish for this strategy? I can see that Trap-Ease America is facing marketing myopia and its marketing strategy is more product-oriented than it is customer-oriented. Trap-Ease group seems to create the mousetrap for their own pleasure without really focusing on satisfying their customer needs and wants. Moreover, I think Martha cares more about selling a

Introduction to Market

2179 words - 9 pages activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything. 1). The concept of product is not limited to physical objects and can include persons, places, organizations, activities, and ideas. 2). Be careful of paying attention to the product and not the benefit being satisfied. 3). “Marketing myopia” is caused by

Contemporary Issues in Green Marketing

4433 words - 18 pages times it may fail to convince them about the long term benefits of Green marketing as compared to short term expenses. Avoiding Green Myopia- Green marketing must satisfy two objectives: improved environmental quality and customer satisfaction. Misjudging either or overemphasizing the former at the expense of the latter can be termed ―green marketing myopia.‖ In short firms using green marketing must ensure that their activities are

Principle Of Marketing

1339 words - 6 pages Chapter 1- slide 5 Understanding the Marketplace and Customer Needs Customer Needs, Wants, and Demands Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 1- slide 6 3 11/06/2014 Understanding the Marketplace and Customer Needs • Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want • Marketing myopia is focusing

Related Essays

Marketing Myopia Essay

555 words - 3 pages MARKETİNG MYOPİA The marketing myopia theory was originally proposed by Theodore Levitt. The needs of the market should receive first priority. An industry is a customer-satisfying process, not a goods-producing process. Businesses will do better in the end if they concentrate on meeting customers’ needs rather than on selling products. Companies stop growing because of a failure in management, not because the market is saturated but

Marketing Myopia Essay

1260 words - 6 pages Marketing Management I Assignment 1 Marketing Myopia Myopia refers to nearsightedness or shortsightedness. Marketing myopia refers to the myopia shrouding the vision of certain companies or industries. It occurs when the company/industry focuses mainly on selling its products and services, instead of paying attention to the needs of the consumers. They concentrate their efforts on selling, instead of marketing their product. They tend to

Marketing Myopia Essay

4029 words - 17 pages Harvard Business Review July-August 1960 • Shortsighted managements often fail to recognize that in fact there is no such thing as a growth industry. MARKETING MYOPIA By Theodore Levitt Every major industry was once a growth industry. But some that are now riding a wave of growth enthusiasm are very mueh in the shadow of decline. Others whieh are thought of as seasoned growth industries have actually stopped growing. In every case the

Marketing Strategies Essay

563 words - 3 pages Marketing Strategies by Theodore Levitt Group No.5 : Rajdeep Laha Anay Halder Sabyasachi Bhattacharya Bipul Purkait Faculty : DR. Abhijeet Biswas Theodore Levitt (1925-2006) • Born in Vollmerz, GERMANY in 1925 • Came to the U.S in 1940 & settled in Dayton, Ohio • Started a newspaper with Erma Bombeck in elementary school • Received his masters in economics from Ohio State in 1951 • Taught at Harvard from 1959-1990 • Wrote Marketing Myopia