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
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OF “MARKETING MYOPIA” Critique of “Marketing Myopia”Written in 1960‚ the paper “Marketing Myopia” was written by Theodore Levitt‚ a professor of marketingat Harvard Business School. It has been republished a number of times since then. The publication thatthis critique is based on is from the Best of HBR series‚ in the July-August edition of the Harvard BusinessReview (pages 138-149).In Levitt’s article‚ he explores and details issues he saw with big business’ short-sightedness (i.e.“myopia”) and
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By looking at the growth and decline of industries‚ issues are not with the management as suggested by Levitt. The industry itself has a lifecycle of its own. The industry has followers‚ innovators and pioneers. The industry will initially grow slowly and then will show a sudden growth followed by a steady state and then a decline. Growth does not only signify in one direction‚ it can be a lateral growth with diversification as well. I would like to critique the thoughts used for defining growth
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Chen Junsheng Steed 25839217 Marketing Myopia Key points. ·Failure of management instead of market saturation is the key reason for growth industry being threatened‚ slowed or stopped. Fateful Purpose ·Endanger their futures by improperly defining their purposes. Eg. Railways are in trouble because they were railroad-oriented instead of transportation-oriented. Hollywood view TV as a threat. ·Be customer-oriented and watchfulness for opportunities is a key point for success. Eg. Nemours
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"MARKETING MYOPIA" MYOPIA (adapted from Mintzberg‚ 1994:279-281) In 1960‚ Theodore Levitt‚ a marketing professor at the Harvard Business School‚ published a celebrated article entitled "Marketing Myopia." It is difficult to find a manager or planner who does not know the theme‚ even if he or she has never read the article.The basic point was that firms should define themselves in terms of broad industry orientation—"underlying generic need" in the words of Kotler and Singh (1981:39)—rather than
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Critique “Marketing Myopia” Marketing Myopia is an article written in 1960 by Theodore Levitt. Levitt was a marketing professor at Harvard who has published many articles on the subject. This article; however‚ is no doubt his claim to fame as it has been extremely well read over the years. This is due in large part to the consumer oriented approach to marketing that he argues for. Though common knowledge to the marketers of today‚ making the customer the first priority in business would have
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Social Innovation Centre The New Marketing Myopia _______________ N. Craig SMITH Minette E. DRUMWRIGHT Mary C. GENTILE 2009/08/ISIC Electronic copy available at: http://ssrn.com/abstract=1336886 The New Marketing Myopia by N. Craig Smith* Minette E. Drumwright ** and Mary C. Gentile *** forthcoming in the Journal of Public Policy & Marketing This paper can be downloaded without charge from the Social Science Research Network electronic library at: http://ssrn.com/abstract=1336886
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a recent case of marketing myopia TUESDAY‚ AUGUST 31‚ 2010 Brand Update : Can Ambassador be saved ? Recently the good old Ambassador was in the news that the brand owners - Hindustan Motors is planning to relaunch /rejuvenate this heritage brand. Both the brand and company is in deep crisis with HM posting losses of Rs 43 crore last year and its networth declining by about 50%. The company plans to relaunch the Amby in a new look and is planning to entrust a design house with the task. The
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Kodak Marketing Myopia: For 40 years‚ you couldn’t walk through Grand Central Station in New York without admiring the Kodak Coloramas. These 18×60 foot photographs showcased the Kodak brand to commuters‚ highlighting the creativity of great photography in a series of “Kodak moments.” Kodak marketing executives were adept at weaving the brand into the fabric of America for generations. In fact‚ at its peak‚ Kodak captured 90% of the US film market and was one of the world’s most valuable brands
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Critique Marketing Myopia In the article writer has emphasized on the matter that to be successful and sustainable in business‚ management need to aim at satisfying customer’s need rather than selling their products and services. Customer is the one about which business should be evolved and continuous emphasis should be made on how we can satisfy his needs and wants in better way rather than focusing on how to better the product. The better one is gauging the customer’s needs the more sustainable
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