It is a problem where the business fails to look into the future of their company and the industry they are in, and fail to plan ahead for it.
Posted on October 10, by pd7g10 Main Idea: An industry is a customer-satisfying process, not a goods-producing process. Hollywood declined because they thought they were producing films instead of entertainments.
There are no such bad ideas for a growing industry that: Looking for mass production is selling, not marketing. Mass production obviously had a place in the plan but it followed a hard thinking about the customer. Mass production was the result, not the cause, of his low prices. Marketing is dedicated to the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering, and, finally, consuming it.
In what extend an industry can change is production model to another?
In other words, can a petroleum company can become a solar or electric company? In one hand, while regarding the petroleum industry through the eyes of customers, customers do not buy gasoline for its taste, colour or smell at the gas station, they buy the right to drive their cars.
So answering customers needs would be giving them the right to drive their cars definitively. So the future of petroleum is a fuel that eliminates the need of frequent refuelling.
The future of any product is not a more technological one, but a product that satisfies a powerful customer need. Sometimes, this process can carry out companies to destroy their more profitable assets to survive at long term. They are growing with the illusion that a superior product will sell itself because they have created a successful product.
Too many engineers and scientists in the management board because of too complex and sophisticated products As it is difficult to get controllable and concrete variables of customers needs, engineers and scientists tend to see customers as unpredictable, varied, fickle, stupid, shortsighted, stubborn, and bothersome people.
Customers do not care about how materials are created. The mains functions of an industry should be:Marketing Myopia: Theodore Levitt - Essay Example Levity used the railroads as an example because railroads were not focusing on other modes of transportation such as cars and planes, and ships.
The railroads only wanted to think of rail transport.
theodore levitt ( – ) professor at harvard business school in marketing myopia focusing on product- oriented instead of customer- Craft Marketing & RNFS -. xavier institute of management, bhubaneswar.
SUMMARY. This 25th-anniversary-edition of Marketing Classics represents a culmination of the most important articles published in the field. Each article has been selected for the contribution it has made, and the impact it has had in bringing a new way of thinking into marketing theory and practice.
Sep 12, · Marketing Myopia was a seminal, epoch-making article written by Theodore Levitt; originally printed in the Harvard Business Review (HBR). At the time of the publication of this article, Theodore Levitt was a lecturer in Business Administration at the Harvard Business School; now, he is a full-fledged professor.
"Theodore Levitt's article "Marketing Myopia" is a business classic that earned its author the nickname "the father of modern marketing". It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life - in business and beyond.
I love the article by Theodore Levitt (originally published in the HBR in ) on marketing myopia. Marketing myopia is the mistake of focusing on sales of your product instead of the needs of.