What is marketing myopia and what does the theory suggest. 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. Marketing unit 1 marketing myopia and the marketing concept. Marketing, corporate policy, vertical integration, masdar institute. 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. What is marketing myopia, and how can it be avoided. Marketing myopia is the quintessential big hit hbr piece. Theodore levitt, a longtime professor of marketing at harvard business school in boston, is now professor emeritus. Dec 02, 2011 there is a core concept in the process of avoiding marketing myopia that needs to be address. Marketing myopia is the 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. The current study introduces the concept of green marketing and looks into the various ways in which the different consumer attributes are related to the concept of green marketing.
In essence, marketing myopia occurs when an organization focuses too. Theodore levitts 1960 article marketing myopia is a business classic that earned its author the nickname the father of modern marketing. Every company needs to capitalize in these concepts. The reason they defined their industry wrong was because they were railroadoriented in every major. Pdf purpose the purpose of this paper is to examine whether or not marketing academics practise what they preach. What is the relationship between marketing concept and. Marketing myopia is used in marketing as well as the title of a marketing paper written by theodore levitt. Jun 21, 2019 the marketing myopia theory was proposed by theodore levitt. Marketing conceptapproach consumers want to see the products meet their wants and needs more than the competition. Milestones in marketing 829 henry ford was famous for his vision of the model t as a standard product offered in any color you want so long as its black and affordable to the broadest possible market, general motors under alfred sloan offered a car for every purse and purpose from chevrolet to cadillac. In it, theodore levitt, who was then a lecturer in business administration at the. An organisations objective is to make profit, to do this they have to consider the marketing concept, in order to satisfy customers.
The concept of marketing accordingly depends on three key perspectives 1 what is the target market the first step is to focus precisely which the object market is. Marketing myopia marketing myopia is a term used in marketing as well as the title of a marketing paper written by theodore levitt. Kodak marketing executives were adept at weaving the brand into the fabric of america for generations. This situation presents a stringent marketing approach wherein a company drives all its efforts towards selling a. Recognising that this concept resonates with levitts seminal marketing myopia concept, the paper draws on resourcebased view and network organisations literature to add two further dimensions, capability myopia and boundary myopia respectively. The marketing concept the marketing concept has evolved over the last years, marketing reflects to a key approach to doing business. Marketing concept and philosophies marketing myopia bba. 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. May 20, 2009 recognising that this concept resonates with levitts seminal marketing myopia concept, the paper draws on resourcebased view and network organisations literature to add two further dimensions, capability myopia and boundary myopia respectively. The marketing concept and process the marketing concept and process lecture 1 18 nov. Philip kotler in his widely acclaimed book marketing management. Intellectual indies marketing myopia is a common marketing term of marketing that refers to a situation where a business pays more interest in its. Marketing management is a social and managerial process by which individuals or firms obtain what they need or. Marketers suffering from the new marketing myopia view the customer only as a.
Marketing is a department of management that tries to design strategies that will build profitable relationships with target consumers. When marketers focus on green benefits over consumer benefits, they enter the danger zone known as green marketing myopia. Mar 24, 2018 marketing myopia takes a limited marketing view that focuses on the need of the business rather than those of the prospects. Product concept myopia marketing concept no myopia 4. Such self centered firms fail to see and adjust to the rapid changes in their markets and despite their previous eminence falter, fail. It is a marketing concept that believes in giving back to society by producing better. Marketing myopia an update how theodore levitt changed. Oct 09, 2016 marketing myopia the concept with examples companies need to give a more consumercentric goal to their business and think beyond just selling their products. Marketing concept, nature and scope, marketing myopia. 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. Mar, 2018 marketing myopia is a concept developed by theodore c. However, it is not as simple as just creating a product and presenting it to the consumer.
It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life in business and beyond. Which marketing concept may lead to marketing myopia. After reading it, you will understand the basics of this useful marketing strategy theory. Jan 23, 2012 kodak marketing executives were adept at weaving the brand into the fabric of america for generations. United nations human rights 2 marketing myopia and the marketing concept successful marketing at its most basic definition is being able to stimulate demand from consumers in order to sell a product. A free powerpoint ppt presentation displayed as a flash slide show on id. Marketing myopia is a term used in marketing as well as the title of a marketing paper written by theodore levitt. Marketing myopia is when a business concerns itself more with its needs than the needs of its target market its customers. There is a core concept in the process of avoiding marketing myopia that needs to be address. Marketing concept approach consumers want to see the products meet their wants and needs more than the competition.
Marketing myopia develops when a companys competitive domain is defined primarily according to its products rather than the needs of the market levitt, 1960. The present study focuses on exploring the concept of marketing myopia which is identified as a one of the. Marketing myopia the concept with examples companies need to give a more consumercentric goal to their business and think beyond just selling their products. His most recent books are thinking about management 1990 and the marketing. In fact, at its peak, kodak captured 90% of the us film market and was one of the worlds. Marketing myopia, a useful marketing strategy theory.
The concept has stayed in tact over the last 50plus years. Sep 26, 2011 core concepts of marketing as defined by dr. Pdf marketing myopia by theodore levitt may boutaleb. Marketing itself is the field in which research is conducted into how the market can best be conquered and where customers also remain customers through repeat purchases and related products. Levitts fundamental question, what business are you in. In this article we talk about the core concepts of marketing as put forward by dr.
Deighton says the idea of marketing myopia is still very applicable today, in part because the original idea wasnt very prescriptive. Sep 29, 2017 marketing myopia is when a firm goes into decline due to a productfocus as opposed to a customerfocus. Posted in marketing and strategy terms, total reads. Deighton says that that is because the original article was like a polemic, almost like a religion. 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. Marketing myopia is a concept developed by theodore c.
In addition, the document will correlate levitts work in 1960 to contemporary marketing. Levitt, who was then a lecturer in business administration at the harvard busi. The societal marketing concept is the most progressive and modernday applicable marketing mindset to have. Both the marketing concept and marketing myopia remain very relevant theories today thanks to professor levitts great way of perception. Extending the marketing myopia concept to promote strategic. This leads the firm to continually improve a narrowly defined product without inventing new ways to meet customer needs. Marketing myopia takes a limited marketing view that focuses on the need of the business rather than those of the prospects. In this lesson, well take a look at this issue and a few examples of. Ppt marketing myopia powerpoint presentation free to. This can be achieved by market research and choosing which, the target business sector, will give the best returns.
The theory states that marketers should look towards the market and modify the company. Theodore levitt, marketing myopia, contemporary marketing. Understanding marketing myopia also can be defined by. However, it is apparent from the foregoing discussion of the new marketing myopia that a more appropriate definition of marketing management alone i. Marketing myopia is when a firm goes into decline due to a productfocus as opposed to a customerfocus. As the name describes the story, basically this concept talks about short. Below are some examples which put forward the phenomenon of marketing myopia and how can companies look beyond it. Explaining the concept and importance of marketing myopia. Due to the shortvisional mindset and wrong assumption that a firm is in its peak phase. 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.
The term entered the vernacular of managers and the pages of textbooks, and when harvard. Markets, needs, value satisfaction, products services, and customer relationship management crm. Alex elwood nikolas foster blake overall shaelee pittenger lorelei wilson what is myopia nearsightednessnot inherited. 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. The marketing myopia theory was proposed by theodore levitt. Marketing myopia suggests that businesses will do better in the end if they concentrate on meeting customers needs rather than. 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. Marketing myopia an update how theodore levitt changed our. The marketing concept has evolved into a fifth and more refined company orientation. Theodore levitt has explained the concept of marketing myopia with the help of the examples of railroads and hollywood industry. Eventually somebody finds a way to serve customer needs better and the product becomes obsolete. Milestones in marketing 829 henry ford was famous for his vision of the model t as a standard product offered in any color you want so long as its black and affordable to the broadest possible market, general motors under alfred sloan offered a car for every purse and. Ppt marketing myopia by theodore levitt powerpoint.
Jul 31, 2018 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. According to the writer, businesses will do better in the end if they focus their attention on meeting customers needs rather than on selling products. It moreover tries to find the valid possibility of the. Marketing myopia, a useful marketing strategy theory toolshero. Marketing myopia is the name given to companies that are shortsighted and look no further than their own product. Marketing myopia is a term used in marketing which has been written by theodore levitt. This article explains the concept of marketing myopia in a practical way. Using a marketing mix offers an excellent way to ensure that the right product is put in the right place.