Friday, January 15, 2010

Marketing myopia

The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products. Market myopiers are so taken with their products that they only focus on existing wants and lose sight of underlying customer needs.They just forgot in which business they are in. Marketing myopia is also a title of an important marketing paper written by Theodore Levitt. This paper was first published in 1960 in the Harvard Business Review. The paper was influential. It exhorted CEO's to re-examine their corporate vision and redefine their markets in terms of wider perspectives. Organizations found that they were missing opportunities which were plain to see once they adopted the wider view. The oil companies (one of his main examples in the paper) redefined their business as energy rather than just petroleum.


Numaira Tariq said...
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Numaira Tariq said...

Kodak is an another example of marketing myopia because they did not notice their potential competitors Sony and Cannon. As a result, they lagged behind the market.