The potential threat of marketing myopia explained with. But some that are now riding a wave of oriented instead of customeroriented. Marketing myopia refers to the phenomenon of not being able to see a long term and more sustainable goal for an organisation. Kodak marketing executives were adept at weaving the brand into the fabric of america for generations. Looking at the market from a myopic perspective results in the company ignoring the many. Ppt marketing myopia powerpoint presentation free to. Marketing myopia is the tendency of a company or a part of a company to define themselves by the product they make. Marketing myopia is a term used in marketing which has been written by theodore levitt. In fact, at its peak, kodak captured 90% of the us film market and was one of the worlds. Theodore levitts 1960 article marketing myopia is a business classic that earned its author the nickname the father of modern marketing.
Marketing myopia suggests that businesses will do better in the end if they concentrate on meeting customers needs rather than on selling products. The marketing mix is a very important tool that helps businesses understand what the product or service can provide and how successful marketing of the product can be anchored on. Marketing myopia concept leaves us a reminder of the dangers that a company may face if it doesnt pay close attention to customer needs and industry trends as a whole. Explaining the concept and importance of marketing myopia. The term was coined by the late harvard business school marketing professor, theodore levitt, in a 1960.
I am so tempted to say that no marketing concept leads to marketing myopia because marketing myopia is the product of losing a marketing focus. Marketing myopia proved to be a formative piece of work by levitt and many other concepts in marketing and broader business strategy were based on findings from this theory. Pdf marketing myopia by theodore levitt may boutaleb. Marketingwit provides you with more information about marketing myopia along with its examples and how to avoid it. The new marketing myopia occurs when marketers fail to see the broader. For an organization to be able to cater to the needs of a market, it not only needs to be technically sound but also consumer oriented. Alex elwood nikolas foster blake overall shaelee pittenger lorelei wilson what is myopia nearsightednessnot inherited.
Marketing myopia develops when a companys competitive domain is defined primarily according to its products rather than the needs of the market levitt, 1960. Marketing myopia tries to understand customer desires, be innovative, conduct marketing research programs and utilize marketing strategies that are developed with customer feedback in mind. Theodore leavitt the other one being phillip kotler, coined the famous phrase, marketing myopia, to describe industries or firms that define their business too narrowly. Marketing myopia marketing myopia is a term used in marketing as well as the title of a marketing paper written by theodore levitt. The concept has stayed in tact over the last 50plus years. The theory states that marketers should look towards the market and modify the company. In this lesson, well take a look at this issue and a.
A shortsighted and inward looking approach to marketing that focuses on the needs of the company instead of defining the company and its products in terms of the customers needs and wants. This article explains the concept of marketing myopia in a practical way. The marketing concept is the strategy that firms implement to satisfy customers needs, increase sales, maximize profit and beat the competition. A free powerpoint ppt presentation displayed as a flash slide show on. Both the marketing concept and marketing myopia remain very relevant theories today thanks to professor levitts great way of perception. Marketing myopia is the name given to companies that are shortsighted and look no further than their own product.
Marketing myopia is when a firm goes into decline due to a productfocus as opposed to a customerfocus. This mix is generally implemented through the 4ps of. Kodak failed by asking the wrong marketing question. An introduction to the concept of marketing myopia marketing myopia is tagged as a situation wherein a company works with the sole aim of selling a product, ignoring all other aspects even the ultimate goal of customer satisfaction. Marketers suffering from the new marketing myopia view the customer only as a. Eventually somebody finds a way to serve customer needs better and the product becomes obsolete. The product concept proposes that consumers will prefer products that have better quality, performance and features as opposed to a normal product.
After reading it, you will understand the basics of this useful marketing strategy theory. Packards 1957 hidden persuaders and levitts 1960 marketing myopia, marketing as both an academic and business discipline has become more sophisticated in its methods and delivery, contributing to increasing prosperity. The marketing concept and process the marketing concept and process lecture 1 18 nov. Below are some examples which put forward the phenomenon of marketing myopia and how can companies look beyond it. Thus, the american marketing associations definition of current marketing attempts to capture its broader nature. Which marketing concept may lead to marketing myopia. Marketing is a department of management that tries to design strategies. This leads the firm to continually improve a narrowly defined product without inventing new ways to meet customer needs. This situation presents a stringent marketing approach wherein a company drives all its efforts towards selling a product and lay. Packards 1957 hidden persuaders and levitts 1960 marketing myopia, marketing as both an academic and. Marketing, corporate policy, vertical integration, masdar institute. Marketing myopia definition by philip kotler wealth coaching.
Marketing myopia is when a business concerns itself more with its needs than the needs of its target market its customers. In addition, the document will correlate levitts work in 1960 to contemporary marketing. Levitts fundamental question, what business are you in. The marketing myopia theory was proposed by theodore levitt.
What is marketing myopia, and how can it be avoided. For decades, the term myopia is being used in human sciences referring to nearsightedness the ability to see near objects clearly but inability to see the far off objects. It moreover tries to find the valid possibility of the. What is the relationship between marketing concept and. Marketing myopia is a narrowminded approach to a marketing situation, wherein an organization focuses more on its product offerings rather than its customers and markets demand. Extending the marketing myopia concept to promote strategic agility. Also known as the shortsighted approach to marketing, the focus is to sell products and therefore for profitdriven.
The fundamental concept to take away from marketing myopia is that a business will survive and perform better if it focuses on satisfying customer needs rather than selling specific products. While the societal marketing concept highlights the needs and wants of a target market and the delivery of better value than its competitors, it also emphasizes the importance of the wellbeing of customers and society as a whole consumer welfare or societal welfare. Marketing myopia, a useful marketing strategy theory. Marketing myopia what is the concept of marketing myopia. As the name describes the story, basically this concept talks about short. Companies need to give a more consumercentric goal to their business and think beyond just selling their products. The marketing concept as a business philosophy is traced from its origins as a business belief where efficient production was the emphasis to the. When marketers focus on green benefits over consumer benefits, they enter the danger zone known as green marketing myopia. The reason they defined their industry wrong was because they were railroadoriented in every major industry was once a growth in stead of transportationoriented. Marketing myopia is a concept developed by theodore c. The concept of marketing myopia was discussed in an article titled marketing myopia, in julyaugust 1960 issue of. Marketing is the activity, set of institutions, and. Product concept myopia marketing concept no myopia 4.
Intellectual indies marketing myopia is a common marketing term of marketing that refers to a situation where a business pays more interest in its own needs rather than focusing on consumer needs. And it does not, as that primal position its definition moves marketing invariably does, view the en steadily back stream to areas of pro tire business process as. Theodore levitt has explained the concept of marketing myopia with the help of the examples of railroads and hollywood industry. Marketing myopia is used in marketing as well as the title of a marketing paper written by theodore levitt. Request pdf extending the marketing myopia concept to promote strategic agility this paper proposes that many firms suffer from self concept specificity. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life in business and beyond. The new marketing myopia stems from three related phenomena. Theodore levitt, marketing myopia, contemporary marketing. Marketing myopia takes a limited marketing view that focuses on the need of the business rather than those of the prospects. Using a marketing mix offers an excellent way to ensure that the right product is put in the right place. What is marketing myopia and what does the theory suggest. Yet to its detractors, marketing should shoulder its share of blame for the growth of the excesses of. Ppt marketing myopia by theodore levitt powerpoint. There are five marketing concepts that organizations adopt and execute.
He has pointed out that the failure of railroads was not due to the introduction of other transportation facilities availability rather the incapability of the management in defining the purpose of railroad industry. Theodore levitt, a longtime professor of marketing at harvard business school in boston, is now professor emeritus. Marketing myopia is narrow minded approach to a marketing situation where only shortrange goals are considered or where the marketing focuses on only one aspect out of many possible marketing attributes can be prevented. Understanding marketing myopia also can be defined by.