THEODORE LEVITT (1925-2006) American Economist Won Several Awards

What is marketing myopia?
y y y Adopting a short-sighted approach to marketing. Constricted Vision. Defines Industry Horizons

Marketing myopia is described as a firm¶s shortsightedness or narrowness when it is attempting to define its business. Firm define it self as a product producer.

Causes for Marketing Myopia:
1. 2. 3. 4. Shadow of obsolescence. Population Myth. Production Pressures. Dangers of R & D.

1. Shadow of obsolescence:

y y y y

Almost all major industry one time qualifies for the appellation of growth industry So, they were focusing on more sales (sales oriented). But, with available of substitutes those industries were in trouble. One by one these celebrated industries has come under a shadow of obsolescence. Eg: Dry cleaning, Electric utilities, Grocery stores etc.

Focused on we increase the efficiency of making our products. y y y y y E. Danger of R&D: y y y y Profit possibilities through technical research& developments. Believe that a superior product will sell itself. Eg: Electronic products . Emphasized on selling not marketing. Focused on the needs of the seller not satisfying the needs of customers. All efforts focused on production. rather than boosting the value those products deliver to customers. Production Pressures: Mass production companies impelled to produce all they can. y y y y y Eg: Ford 4. Petroleum Industry 3. Firms continue to be oriented toward the product rather than consumers. Believed that benefits through expanding population. Having a generic product. Occurred marketing myopia. Population Myth: Belief that profits are assured by an expanding & more affluent population. Mass production moves the products.g. no competitive substitutes.2. It develops the philosophy that continued growth is a matter of continues product innovations & developments.

Enjoyed confidence of sophisticated investors. Now in trouble. Product oriented rather than customer oriented. oil production & oil refining. not because that need filled by others (cars. Improved the techniques of production & not the product. Believed that growth is assured by an expanding & more affluent population. Recruit marketing people & have brainstorming sessions between those new & existing managers to yield new strategies. trucks. Petroleum Industry: y y y y y y y Pioneered the oil recourse exploration. ³Business will do better if they concentrate on satisfying customers needs rather than on selling products´ Conclusion: To ensure continued growth for your company. Didn¶t think of alternatives (natural gas) Focused on a generic product. cheapest & reliable mode of transport in those days. but failed to realize its supportive products. Narrowly defined as railroad business rather than transportation business.Examples for Marketing Myopia: The Rail Roads y y y y y y Fastest. Be flexible enough to apply unique solutions to the problems. concentrate on meeting customer¶s needs rather than selling products . buses & airplanes) Not filled by railroads themselves. Possessed advance technology & know-how. ³Complacency & wrong headedness can stubbornly convert opportunity in to near disaster´ Strategies for minimize marketing myopia: y y y y Monitor other industries & be aware their marketing strategies. Limited itself to the technology of oil \ exploration.

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