PRESENTED BYGROUP A - 8

Marketing Myopia

A visual defect in which distant objects appear blurred because their images are focused in front of the retina rather than on it .

NearsightednessNot inherited. It can be prevented.

Myopia

Marketing Myopia (Myopia in Business)

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 customers' needs and wants.

• Narrow definition of who you are/ what you do!

• Inside out approach (Product Orientation)!

• Trying to “Sell”!

• Assuming the growth will prevail!

What Leads to Marketing Myopia

Ever Expanding Market

Non Substitutability

Superiority of Product

Self Deceiving

Cycle

Benefits of Mass Production

• Expanding and affluent population Automatically expanding market

• Companies focus on efficiency, not innovation

Railroad Petroleum

Fixed line telephony

(Lanka Bell)

Lanka Bell Revenue

Ever Expanding Market (Population Myth)

• Apparently unchallenged superiority

• There’s no Effective Substitute

• Substitutes from same industry only?

Dry cleaning Kerosene lamp

Film

(Kodak)

Non Substitutability

• Superior and sophisticated products attract demand

• Research is product oriented

Electronic Industry Golden mouse trap

Improving the product

(Nokia) Vs

Superiority of Product (R&D Focus )

• Output increase Lower unit cost

• Produce as much as possible

• Emphasis on selling, not marketing

Ford “T” model

Tata Nano?

Benefits of Mass Production

• Cell tel

• Homerun

• Maliban

Relevance to Present Context

From a DVD rentals business to an Online Streaming business

What customers want is not to get DVDs conveniently, but a convenient way of enjoying the desired content

Absence of Myopia Success Stories

Absence of Myopia Success Stories

• Siddhalepa

• Balm manufacturer Ayurvedic healthcare provider

Absence of Myopia Success Stories

• Atlas

• Pen manufacturer Stationary supplier

• CBL

• Biscuit manufacturer Food supplier

Absence of Myopia Success Stories

“If not for the customer, we won’t be in business in the first place…”

Conclusion

Industry Goods Producing Process

Customer Satisfying Process

Focus Delivering Products to Customers

Delivering Value to Customers