Marketing Myopia -

What is meant by marketing myopia?

'Marketing myopia' is a term coined by Theodore Levitt.
A business suffers from marketing myopia when a company views marketing strictly from the standpoint of selling a specific product rather than from the standpoint of fulfilling customer needs
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Marketing myopia is a narrow minded approach to marketing situation where short range goals are decideing marketing focus on only one aspects ( most of product or service which company sell ) of many possible attributes .

Theodore Levitt in his theory stated that marketers should look towards the market and modify the company and products rather than looking towards your own organization, its potential and then catering the market. The needs of the market should first priority.
Theodore Levitt asks a very interesting question as an example for marketing myopia. His question is, “If Hollywood were into television rather than movies, wouldn’t it have profited more?” This is true because as we know the major crowd of Hollywood is concentrating into making movies and actually money is more into television. Thus, if Hollywood would have catered to the television market, they would have earned more. And Theodore Levitt’s marketing myopia theory has turned right as Hollywood has entered television with renowned movie maker twentieth century fox as well as Sony televisions and other channels. According to the marketing myopia theory, to cater a market – a company not only needs to be technically sound and product oriented but it also needs to be customer oriented. It needs to know what are the needs of the customer and what further innovations can the company bring to maintain customer interest or how it can adapt to the changing business market.
Causes of marketing myopia –
? Company thinks its growth is guaranteed by expanding population .
? Believe there is no competitive substitute .
? Mass production thinking
? Focusing on product rather than customer .
? Lack in innovation .
Impact of marketing myopia –
? Short sightedness affect the mission of company .
? Growth get checked .
? Uncertain future

Implications of the Marketing Myopia theory – Marketing myopia can be used by marketers as well as advertisers to determine whether or not they are catering the right market. Should they adapt their products to cater a larger market. What kind of advertising strategies should they use. How can they bring about synchronization between the production capabilities of companies and the demand in the market.
Marketing myopia asks the companies to do the following
? Be more customer focused
? Innovate
? Be in control
? Understand customer desires
? Conduct marketing research programs
? Marketing strategy should be developed keeping feedback of customers in mind.

                                                                              - GuruRaJ KhanvilkaR