What are the danger of marketing myopia?

myopia is a medical term for myopia. Marketing nearsightedness thus concerns marketing practices that are short -sighted or turned towards each other than to be in view or formed with external factors. This type of marketing is generally considered undesirable. It gains a company to focus on what it wants rather than what the client wants and tends to create a culture that is resistant to change. Both often lead to loss of reputation, loss of business and inefficient business practices.

The term 'marketing myopia' could be created by the emeritus professor of Harvard Business School Theodore C. Levitt, who wrote an article entitled "Marketing Myopia" for the release of Harvard Business Review . In this article, he suggested that businesses develop marketing myopia, because they often do not doubt and often assume that they know answers to such fundamental questions as "in what business are we?" Philosophy was that the answer to such questions was obvious. LionITT suggested that these answers were not obvious, and that by exploring them, the company could serve more adequate to its customers, thus increasing their business.

For example, a company that traditionally produced sources used in retracting pens could say that it is in the business of production sources and is probably sold as a manufacturer of spring pen. This limits itself and its market. Worse, they trained potential clients to think of business only in terms of Pen Springs. The company has developed marketing myopia. He looks only at his past and assumes that his current business market will maintain it in the future.

This type of thinking is extremely dangerous. If the retracting pens suddenly became obsolete, this company would have nothing to sell. Conckon is a spring pen manufacturer. This is how he thinks of himself and how his clients think so. Now that the pen market has dried up, the best alreadySOU clients.

If the same society did not have such a short -sighted and narrow view of its purpose, two things would happen. First, they would carefully monitor factors outside their business, such as market trends and consumer preferences. They would see the incoming fall of pen sources and would prepare a emergency plan to continue to prosper in spite of the market shift.

Second, they would ask themselves what business they are, and they would probably realize that they were in fact in business in the production of curled wire. This would allow them to consider what other types of products could use their twisted wire and diversify their client base. When the spring pen market crashed, their company would have other markets to turn.