MARKETING MYOPIAMARKETING MYOPIA??? ???

This Concept Was First This Concept Was First Discussed By Theordore Levitt.Discussed By Theordore Levitt.

Short sighted and inward looking approach to

marketing that focuses on the needs of the firm

instead of defining the firm and its products in

terms of the customer’s need and wants.

Causes of Marketing Causes of Marketing MyopiaMyopiaNarrow minded approach to marketing

situation where only short ranged goals are considered.

Product oriented rather than customer oriented.

Stepchild treatment to marketing.Selling focuses on needs of

the seller, marketing on the needs of the buyer.

Excessive focus on Research and Development.

Impact Of MyopiaImpact Of MyopiaShort sightedness affects the mission

in vision of the company.Growth get checked.Uncertain future.

Affected Industries….Affected Industries….

Dry cleaning industryHollywoodRailroadsGrocery storesPetroleum industries

How to Prevent Myopia?...How to Prevent Myopia?...Customer Orientation Focus on customer rather

than on product.

Focus on Marketing Looking for future opportunities.Retention of existing customers.

ConclusionConclusion

Focusing on the customer’s satisfaction and needs, the

industry has to re-innovate its mission, vision and goals.

Diagrammatic Diagrammatic RepresentationRepresentation

Customer’s Satisfaction

Product Success

Industrial Leadership

Organization's Survival

ReferenceReferenceKotler, P. and Singh, R. (1981)

“Marketing Warfare in the 1980’s, Journal of Business Strategy, Winter 1981, PP.30-41

Steiner, G.(1979) “Strategic Planning: What every manager should know”, The Free Press, New York, PP.197

Marketing myopiaMarketing myopia

“Short sighted and inward looking approach to marketing that focuses on the needs of the firm instead of defining the firm and its products in terms of customers’ needs and wants.”

(http://www.answers.com/topic/marketing-myopia)

SymptomsSymptoms

Comments such as:

• “They have nothing on us”

• “That could never happen to us”

• “We are our own competitors”

• “Customers love our product or service regardless of what happens”

• “They will buy whatever we will sell to them”

SuccessesSuccesses• Pepsi-Cola is a good example of which marketing and management myopia is absent.

• Pepsi-Cola’s diversification into other markets.

•Product: a feel good thirst quencher and commodity: a soft drink.

FailuresFailuresKodak film company is a great example

in which marketing myopia was present.

Kodak did not view Sony, an electronics company, as a potential competitor.

Product: capturing moments Commodity: film

CausesCausesShadow of obsolescence

Population Myth

Production Pressures

Dangers of R & D

Lessons we can learnLessons we can learnCompanies need to know the difference

between a product and commodity.

Product: “what a customer feels about your business”.

Commodity: “A commodity is anything for which there is demand, but which is supplied without qualitative differentiation across a market.”

(en.wikipedia.org/wiki/Commodity)

Modern day relevanceModern day relevance

We live within a society that is:Fast pacedContinuously evolvingConsumers seek instant gratificationCompetition is rifeCompanies’ either have to EVOLVE and

ACCOMMODATE consumer needs OR DIE

We need unconventional We need unconventional managementmanagement

Conventional management is a symptom of marketing and management myopia because the system in which managers are groomed is indiscriminant of whom it captures and who’s mind it handicaps by restricting their thinking to “tried and tested” thought processes.

Avoiding Marketing MyopiaAvoiding Marketing Myopia

In conclusionIn conclusion

“The problems that exist in the world today cannot be solved by the level of thinking that created them”.

- By Albert Einstein

To ensure continued growth for your company, concentrate on meeting customer’s needs rather than selling products