Marketing Myopia

Topics: Marketing, The Wealth of Nations, Competition Pages: 2 (266 words) Published: March 16, 2013
Page 1 of 1

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02/23/10 - Marketing Myopia
The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adopted the marketing concept, but this has not always been the case.

In 1776 in The Wealth of Nations, Adam Smith wrote that the needs of producers should be considered only with regard to meeting the needs of consumers. While this philosophy is consistent with the marketing concept, it would not be adopted widely until nearly 200 years later.

Marketing Myopia was initially described as firm's shortsightedness or narrowness when it is attempting to define its business. Marketing Myopia is analogous to a product orientation, whereby the firm defines itself as a product-producer. One alternative is a customer orientation (i.e., the Marketing Concept), whereby the firm defines itself as a satisfier of customer wants and needs; that is, the customer orientation helps the firm to anticipate and adapt to changes in customer demand. The customer orientation has also been considered as a type of Marketing Myopia, Firms overemphasize the satisfaction of customer wants and needs and, as a result, have ignored competition. A competitor orientation has been proposed as replacement for the customer orientation: with this orientation, a firm's strategy is influenced by its competitors.

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