OSRA 2 September 8 2013 Marketing Myopia 1. The author doesn’t believe in the concept of a growth industry. Leavitt describes every so called growth industry as a “self-deceiving cycle of bountiful expansion and undetected decay.” The four conditions which make up this cycle are reasons companies should continue to invest in product innovation and development. * The population myth is a belief that as more consumers enter the market‚ there is a greater opportunity for sustained profits
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Marketing Myopia Marketing Myopia can be defined as a short-sighted and inward looking approach to marketing that focuses on the needs of the company instead of defining the company and its products in terms of the customers’ needs and wants. It results in the failure to see and adjust to the rapid changes in their markets. For example‚ transportation is a generic need filled by buses‚ cars‚ trains‚ airlines and shipping lines all of them being in the transport business. Finding the generic
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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
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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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"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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