; Hollywood didn’t even tap the television market as it was focused just on movies. Marketing Myopia in Consumer Durables. Concept and Examples | Marketing Lessons. Marketing Myopia was first coined by Theodore Levitt, editor of the journal Harvard Business Review, and it refers to the often myopic view that a business might get where it looks at the business’s own goals rather then focusing on the needs and wants of the customers. What these households running Mom & Pop shops do not realise is that they are not merely in the business of selling their products to nearby areas, they are in the business of quick & easy access of groceries. The best way to handle such obsolesce would be to plan the obsolesce and introduce newer technologies and handhold the market share from one technology to another.Once considered to be the bread and butter of many households, now Supermarkets came into the picture because of convenience. Instead of wandering around different stores for goods, people started to flock to supermarkets to get everything under one roof. Almost all of them underwent a major restructuring.
The worldwide increasing number of wool products led to this ‘than’ very lucrative business. MARKETING MYOPIA Theodore Levitt Every major industry was once a growth industry.
When he wrote his piece, Levitt was thinking specifically of businesses in ‘high-growth industries’, who can become stuck in the belief that their industry will always be ‘high-growth’ and therefore never falter. endstream endobj 11 0 obj 2342 endobj 4 0 obj << /Type /Page /Parent 5 0 R /Resources << /Font << /F0 6 0 R /F1 8 0 R /F2 12 0 R >> /ProcSet 2 0 R >> /Contents 10 0 R >> endobj 15 0 obj << /Length 16 0 R /Filter /FlateDecode >> stream Theodore Levitt's 1960 article "Marketing Myopia" is a business classic that earned its author the nickname "the father of modern marketing." What is Marketing Myopia? Eventually somebody finds a way to serve customer needs better and the product becomes obsolete. H��Wێ������~ This paper was first published in 1960 in the Harvard Business Review, a journal of which he was an editor. There were not enough studies or reports available at that time to prove Theodore was right.
However, what the dry cleaning guys didn’t realise was the fact that they were Though not as evident as the cases described earlier in this article, there is a high probability of consumer durable running on electricity to face obsolescence.The electric goods came into the picture at the cost of traditional fuel-driven appliances e.g.
The reason being, we all know that a huge chunk of human as well as financial resources are being invested in Hollywood to make movies. e.g. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life - in business and beyond. Marketing Myopia. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life - in business and beyond. For decades, the term Myopia is being used in human sciences referring to Nearsightedness – the ability to see near objects clearly but the inability to see the far off objects. In … We argue that they learned this lesson too well, resulting today in a new form of marketing myopia, which also causes distortions in strategic vision and can lead to business failure. There is another interesting article for further reading:Please can I have other articles relating to marketing myopia to read?so i get the concept , but what are the Implications of the Marketing Myopia ?So i can say marketing myopia has not bad effect if it properly used in marketing?
Glad you liked the content. Thanks for sharing.Enter your email address to subscribe to Marketing Lessons and receive notifications of new posts by email. �#�k��#�'A�� ��_�@��ވC}��Â��b���^�q����k��]������%��yp{�V��/n���r3nW,,����x���^�����ot�?b�eM3O��M�&M��Uy��[��Uj1}-*����] A���SZ�F�1�{�B��ɞ�l8�� �q4��ȫ9-!��k�2q���O,ȦX�(�?t�涉i�8l�!�^�o�3�98_�D:�I�>RhW�Q�μV-a�qS��y�>�� �GIQ_9�����Ga�,^� M�5=?;0�V��OZxAg�`������E�g�������. Marketing myopia refers to a short-sighted approach to marketing that focuses more on the business and the product than the customer. Academia.edu is a platform for academics to share research papers. 16 Stephen Brown Grand opening offer 16 No down payment 17 Money back guarantee 18 Batteries not included 19 Limited time only 22 One careful … 10 0 obj << /Length 11 0 R /Filter /FlateDecode >> stream Marketing myopia is when a firm goes into decline due to a product-focus as opposed to a customer-focus. 26 Journal of Marketing Management, Vol. Theodore Levitt's 1960 article "Marketing Myopia" is a business classic that earned its author the nickname "the father of modern marketing." Kodak lost much of its share to Sony cameras when digital cameras boomed and Kodak didn’t plan for it. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life - in business and beyond.
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