Summary Marketing Myopia This article provides basis for how to ensure continuous growth of a company. It also explains the misconception that marketing and selling a product is same thing. In actual both are different in spirit. Selling the product focuses on need of the seller and converting it into cash. While marketing is customer oriented it deals with satisfying the needs of the customers by means of product and the whole cluster of things associated with creating‚ delivering and finally consuming
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In year 1994‚ KODAK had important strategic decisions to make in order to ensure that a bright future is waiting for KODAK. At that time‚ although Kodak was dominating the consumer photographic film market‚ it had been facing a 6% decline in market share over a five year period. The reasons for KODAK’s market share loss could be examined in two major parts; supply effect and demand effect. SUPPLY EFFECT DEMAND EFFECT -Attractive
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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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Marketing Myopia : Reading Notes Harvard Business Review often became references. “What business are you really in?” Mr Levitt explains that if we are not in the game anymore‚ it’s because of a failure in our management‚ not because of the lack of opportunities. We have to create these opportunities. The examples given show that lots of industries died because they “defined their business incorrectly”. You may have to define again your business‚ because a stagnant industry will not survive
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Marketing Myopia In this article‚ author Theodore Levitt explores the major factors that have an impact on the growth opportunities for organizations. With the help of examples from different industries such as the movie industry‚ the automobile industry‚ the petroleum industry‚ the grocery stores etc.‚ he highlights some common misconceptions and strategic errors made by firms that have led or may lead to their subsequent failure. The main point that he makes is that most of these organizations
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Marketing Myopia Part A. Basics Concepts and Ideas 1. Near sighted (myopic) view of marketing that focuses on products rather that customers’ needs and wants results in company’s failure to adjust to changes in the market and leads to business’ decline 2. Too narrow definition of the market prevents companies from foreseeing threats from substitution and put them at risk of obsolescence 3. Success of a company depends on human organization and leadership. Part B. Implications
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Market Myopia: Introduction: In 1960 Theodore Levitt wrote a famous article “Market myopia”‚ which is still famous in todays world. He introduced the famous question “what business you are really in”. Market myopia is a strategy that focuses on the product of the company rather than the need of the customer. A good example of market myopia is seen in ford motor company‚ they built a Edsel in late 1950s with the intent of being fashion able and large vehicle‚ they did a lot of marketing but at
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Eastman Kodak Company‚ commonly known as Kodak‚ is an American multinational imaging and photographic equipment‚ materials and services company headquartered in Rochester‚ New York‚ United States and incorporated in New Jersey.[3] It was founded by George Eastman in 1888. Kodak is best known for photographic film products. During most of the 20th century Kodak held a dominant position in photographic film‚ and in 1976 had a 89% market share of photographic film sales in the United States. The company’s
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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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Kodak Company‚ founded by George Eastman‚ is a worldwide US corporation that produces imaging and photographic equipment such as digital cameras‚ imaging systems and sensors and photographic film. Eastman decided the name of the company should be short‚ unique and easy to pronounce. Originally the name was “Nodak” chosen by David Houston‚ a fellow photographic inventor who later sold several patents to roll film camera concepts to Eastman. Houston chose “Nodak” as a nickname of his home state North
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