What is marketing myopia? As defined by Levitt, marketing myopia is the failure of management to recognize the scope of its business because its strategy focuses on the product/service and not on the benefit that the customer seeks or perceives when acquiring it.
The problem is that organizations, their managers, do not know how to answer (or respond inadequately) to what business they are in? Or what is the same, your strategic mission statement is too limited or too general. Ideally, it should be focused on the markets you serve and the benefits that customers seek.
What is marketing myopia?
All executives must understand the industry’s vision as a customer satisfaction process, not as a product generation one. An industry begins with the customer and their needs, not with a patent, raw material, or sales skill. Given the customer’s needs, the industry develops backward, dealing first with the physical delivery of satisfaction to customers. Then it goes back even further to the creation of the things that allow those satisfactions to be partially achieved. How these materials are created is indifferent to the customer, so the particular way of manufacturing, processing, or whatever cannot be considered a vital aspect of the industry. By last, the industry backs down further to find the raw materials needed to make its products… No organization can achieve greatness without a vigorous leader who is driven by a vibrant will to succeed.
You may also like to read, no nonsense forex. To know more visit our Business blog https://heygom.com
A leader must have a vision of greatness, a vision that can produce large numbers of eager followers. In business, the followers are the customers. To produce these customers, the entire corporation must be seen as customer creation and satisfaction body. Executives must see themselves not as generators of products but as providers of value-creating customer satisfaction. a vision that can produce large numbers of eager followers. In business, the followers are the customers. To produce these customers, the entire corporation must be seen as customer creation and satisfaction body. Executives must see themselves not as generators of products, but as providers of value-creating customer satisfaction. a vision that can produce large numbers of eager followers. In business, the followers are the customers. To produce these customers, the entire corporation must be seen as customer creation and satisfaction body. Executives must see themselves not as generators of products, but as providers of value-creating customer satisfaction.
Myopia in Marketing
As is clear from the previous paragraph, the proposal consists of putting the customer at the center of the company’s activities and marketing in the middle of the strategy.
A positive example: Mastercard’s basic product is your credit card, a shortsighted strategy would focus on offering it as a credit service. Mastercard’s strategy is broader and is based on its priceless concept: “There are things that money cannot buy. For everything else, MasterCard. Mastercard is not in the business of credit, it is in the business of allowing/making it easy for your customers to take care of what really matters to them.
A negative example: Xerox in the 70s led the vigorous market for photocopiers, seeking to ensure that position, it invested in its large R&D center in Palo Alto (PARC), where technologies were developed that promoted the development of personal computing, but XEROX didn’t realize what it was up to, it was nearsighted, it only recognized itself in the photocopy industry. New companies like Apple had to arrive so that what the self-absorbed XEROX had developed and that it let pass due to its managers’ short vision began to massify.
