1. Why is the marketing myopia very dangerous?

Marketing myopia is when a company lacks insight on the consumer’s needs and wants
while focuses more on the company’s needs and short-term growth strategies. It is very
dangerous because customers are becoming dissatisfied with an aspect of the product or
service. Over time, reviews on the product will turn negative until it will be harder to
acquire new customers. And the worst is, the business will get worse and eventually fails.
Nothing is constant but change. So, as we are changing, the needs and wants of customers
are also evolving.
2. Give common examples of marketing tools?
 Frequency Marketing. It refers to a type of long-term consumer sales program
that aims to encourage repeat sales by rewarding customers on buy frequently or
on regular basis wherein rewards may vary but may include discounts and
merchandise prizes. The main goals are actually to repeat sales and customer
loyalty. For example, is the airline companies. They offer a frequent flier program
to encourage customer loyalty just like the “Piso Fare of Cebu Pacific Airlines”.
 Customer Engagement Marketing. This type of marketing tools focuses on
increasing the engagement of customers with the brand by delivering personalized
messages across preferred channels. One example is by simply sending
personalized email or SMS that addresses the customer by name, recommends
products related to a previous purchase and then link to content about how to
install or maintain a product. Another example is by linking to a content not
directly tied to the product the customer bought, like thought leadership post on a
related topic or blog about charity or cause that a brand supports.
 Consumer Generated Marketing. It is an inexpensive and affordable marketing
strategy where companies seek ad content from consumers to increase their
customer bases and cultivate relationships with past customers. There are many
ways actually on how to market it and one example is sharing customers’ content
to promote events.
 Partner Relationship Management. It is a term that is used to describe the
methodology and strategies for improving relationship between a company and its
 channel partners or suppliers. An example of this is creating a shared partnership
vision and roadmap. This will help in preventing unexpected surprises that the
company may experience.
3. What do you mean by share of customer?
It is defined as the share the company gets out of the customer’s purchasing their
offerings. Focusing on the share of customer helps in increasing retention. If someone is
happy to buy more from a company, it’s likely that customers will be more loyal. Better
retention means better customer lifetime value.