"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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Summary of Marketing Myopia Shorter University Abstract This document summarizes the work of Theodore Levitt in his work published in The Harvard Business Review titled “Marketing Myopia.” Levitt’s work details the reasons growth industries are actually not that at all‚ and how organizations fail across the globe in regards to marketing. In addition‚ the document will correlate Levitt’s work in 1960 to contemporary marketing. Keyword: Theodore Levitt‚ marketing myopia‚ contemporary marketing A Summary
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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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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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Marketing Myopia Summary Main Points: 1. An industry is a customer-satisfying process‚ not a goods-producing process. Businesses will be better positioned for growth if they concentrate on meeting customers’ needs rather than on the mass production and selling techniques of their products. 2. Companies stop growing because of a failure in management‚ not because the market is saturated (Levitt‚ 2008:1). Myopia is a term used and means to be shortsighted. In business‚ this would mean not having
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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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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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