Essay About Marketing Myopia And Today’S Business World

How Marketing Myopia Is Currently Viewed by Academics and Whether It Is Still Relevant to Today’s Business World
How marketing myopia is currently viewed by academics and whether it is still relevant to today’s business world                                                                        How marketing myopia is currently viewed by academics and whether it is still relevant to today’s business world.A market is a place where the business gets recognition. Sometime the organization gets success but sometime they face failure due to wrong marketing phenomenon such as marketing myopia. It is a short sighted plan of marketing which leads to failure in marketing. It is of great relevance in today’s business world because while starting a business every business house needs to plan their tasks for the future growth and to avoid marketing myopia. In this essay, three aspects of myopia will be debated. Firstly what is marketing myopia and the reason behind the occurrence of this phenomenon. Secondly different views of marketing myopia and impacts of this approach on the growth of organisation will be argued, last topic of the paper is whether it is still relevant to today’s business world.                         The term marketing myopia is made up of two words, marketing and myopia (short sighted) which means inward and short sighted policy focusing more on the company’s desire to offer specific products and services rather than focusing on the consumers need and wishes. It restricts the view of company when management focus more on the specific goods and services that the company can produce and ignore the expectations and requirements of consumers. For instance railway organization that considers their business as of trains only than the transportation fails to understand the competition form cars, buses and airlines (Levitt 1960, p. 45). It is important to characterize the needs of the customer in more general terms instead of particular terms. Don’t think sofa think the furniture. Marketing myopia has been viewed differently in the last several decades; firstly it was product oriented strategy. After the introduction of Levit’s concept marketers have started paying more attention on customer and hence there comes a new myopia. The later concept of myopia was the outcome of customer oriented plan which does not consider the stakeholders of company.  Another different sight of marketing myopia explains the evolvement of a new logic which has replaced the goods dominant view into service dominant view. Every coin has two sides likewise marketing myopia have positive and negative effects. Negative are more than positive. On the positive side, marketing myopia has changed organizations view from product oriented ton consumer oriented. Online shopping and services are creating value to customer and company. Mass production results in lower prices. On the negative side Levitt has explained the myths that companies were following and results in failure.  According to population myth when there is growth in the market for goods, management try to expand the production than focusing on the marketing and future consequently affect the business success. Firms focusing on mass production to lower down the unit manufacturing charge, disregard the shoppers liking. They emphasize more on selling the product rather than marketing as a result they bear the loss. There was another destructive thinking aspect administration believes, that their products are indispensible, they ignore the substitute products and threats of new competitor which bring the defeat. Another limitation of this concept is the expenses on research and development since organization may fall in technological creativity aspects which results in less sales figure.