Marketing myopia: Theodore � PAGE * MERGEFORMAT �5� Running head: MARKETING MYOPIA: THEODORE LEVITT Marketing Myopia: Theodore Levitt University of Phoenix � Marketing Myopia In Theodore Levitt ’s article‚ "Marketing Myopia" (1975)‚ the concept of marketing was widened by examining the history of failed industries doomed to fail eventually. Industries failed to continue their growth not because of a saturated market but failure of proper management. They did not realize the need of expanding
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Marketing myopia Organisations should define their sector as much extensive as they can ‚ because it may help them with developing their business and finding more opportunities. Levitt gives examples abut railroads which hadn’t thought about their industry as the transportation business‚ but as just the railroad business. Moreover‚ there is another similar example about Hollywood which hadn’t defined itself as the entertainment business‚ but as the movie business. Levitt called that as “Marketing
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Article 1: Marketing Myopia 3 Article 2: An Integrated View of Marketing Myopia 4 Article 3: Beyond Marketing Myopia: The Service of Small Railroads 5 Article 4: Futuristics: Reducing Marketing Myopia 6 Article 5: Reconsidering the Classics: Reader Response to "Marketing Myopia" 7 Article 6: Global Marketing Myopia 8 Article 7: Editorial: Marketing Myopia 9 Article 8: Extending the marketing myopia concept to promote strategic agility 10 Article 9: The New Marketing Myopia 11 Article 10:
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Theodore Levitt’s “Marketing Myopia‚ ” published using the Harvard Company Review inside of 1960‚ provides excellent perspective throughout the mind of your respective customer. Over forty a very long time later‚ the essay may be relevant along with insightful‚ ready with suggestions about revenue‚ marketing‚ along with reinvention. People who focus on marketing strategy‚ various predictive techniques‚ and the customer’s value can go beyond myopia. This may entail the use of long-term benefit objectives
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Introduction to global marketing ‘The process of focusing the resources (people‚ money‚ and physical assets) and objectives of an organisation on global market opportunities and threats’ Keegan 1995 Marketing is now a universal discipline the new concept of marketing appeared 1960 - Marketing Myopia - Levitt now ‘strategic’ concept The Three Principles of Marketing Customer value and the value equation i.e. value greater than competitors Value equation is: VALUE = PERCEIVED
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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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Abstract The article‚ “Marketing Myopia” written by Theodore Levitt‚ illustrates how businesses interact in their particular industry’s life cycles of growth‚ maturity and decline. One of the primary focal points of the article is that businesses must know their industry in regards to satisfying their specific customer’s needs. Identifying customer needs and meeting them‚ allows for continued growth of the company and industry. Recognizing the necessity to satisfy customer’s needs rather than
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Retailers margin $1.59 $1.47 Plush Ball will make $0.55 more profit margin than teething toy per unit which is almost 30% of the margin made by Teething Toy. Also Plush Ball would make $0.12 more retailer profit per unit which is approximately 8% more than retail profit made my Teething Toy. The competing products for Plush balls sell at $5.80 per unit and competing products Teething Toys are sold at $4.50 per unit. Comparing the competitors’ prices with the retail prices of our plush ball
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Marketing Myopia What is Marketing Myopia? Marketing Myopia is the short-sighted approach of management of focusing on a particular product and not identifying the correct industry the organization is in. (Levitt‚ 1975) In essence it implies that organizations should not define their business based on their products and should attempt to identify the business based on customer centric evidence. Organizations need to focus on customer wants and use customer centric evidence forming strategic
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