Impacts of Marketing MyopiaEssay Preview: Impacts of Marketing MyopiaReport this essayImpacts of Marketing MyopiaAs we all know, Marketing Myopia was first introduced by Theodore Levitt. According to his theory analysis, companies apply a wrong approach to meeting the needs of consumers. They believe that consumers, and potentially customers, buy a product or service for its own sake, ignoring the utility value of the product or the service, which is the main reason for its purchase, which, in other words, demonstrates a specific choice of the consumer. The consequence of marketing myopia is a diminished customer relationship resulting in poorer results in advertising messages and sales processes. It is resulted due to lack of proper management. A marketing myopia leads a company to become or cause to be less from this competitive corporate world.
Furthermore, it leads to a wrong or poor understanding of the market and therefore failure in market place. The myopia even leads to a wrong or lack of understanding of the most nature of the business in which a given organization is occupied or engaged and also affects the future of the business. As he further explained that while business keep changing with the times, there is some fundamental characteristic in each business that maintains itself through the changing times, which always relates to the basic human need which the business seek to serve and satisfy through its products. A wise marketer should understand this important fact and define his business terms of his fundamental characteristics of the business rather than in terms of the products and services manufactured and marketed by him. For example, the Airways should define their business as transportation and the Movie Makers should define their business as entertainment or many more.
This myopia also may lead to its decline, such as argument is that many of these companies tended to be product oriented. They either were completely focused on mass production generating as much product as possible, or they were completely focused on conducting research and development without giving much attention to the market environment. Their efforts were only centered on the product. Instead of being product oriented, these companies should be customer oriented so that they dont just make the product, but make a product that the customers want. Moreover, they should focus their efforts on marketing, which is a process that reveals the needs and wants of the buyer. In conclusion, the impacts that might occur are such as short sightedness affects the mission in vision of the company, growth get checked and uncertain future.
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