Marketing Myopia

Muhammad Abdur Rehman Muhammad Waqas Rafique Muzammil Shahabuddin Saquib Kamran Taimoor Jamil

Marketing myopia
Some organizations ignore the fact that to be successful, the wants of customers must be their central consideration.
(http://dictionary.bnet.com/definition/marketing+myopia.html)

Marketing myopia
Short sighted and inward looking approach to marketing that focuses on the needs of the firm instead of defining the firm and its products in terms of customers needs and wants.
(http://www.answers.com/topic/marketing-myopia)

Symptoms
Comments such as: They have nothing on us That could never happen to us We are our own competitors Customers love our product or service regardless of what happens They will buy whatever we will sell to them

Successes

Pepsi-Cola is a good example of which marketing and management myopia is absent. Pepsi-Colas diversification into other markets.
Product:

a feel good thirst quencher and commodity: a soft drink.

Failures

Kodak film company is a great example in which marketing myopia was present. Kodak did not view Sony, an electronics company, as a potential competitor. Product: capturing moments and commodity: film

Causes

Shadow of obsolescence Population Myth Production Pressures

Dangers of R & D

Lessons we can learn

Companies need to know the difference between a product and commodity. Product: what a customer feels about your business. Commodity: A commodity is anything for which there is demand, but which is supplied without qualitative differentiation across a market. (en.wikipedia.org/wiki/Commodity)

Modern day relevance

We live within a society that is: Fast paced Continuously evolving Consumers seek instant gratification Competition is rife Companies either have to EVOLVE and ACCOMMODATE consumer needs OR DIE

We need unconventional management

Conventional management is a symptom of marketing and management myopia because the system in which managers are groomed is indiscriminant of whom it captures and whos mind it handicaps by restricting their thinking to tried and tested thought processes.

Avoiding Marketing Myopia

In conclusion
The problems that exist in the world today cannot be solved by the level of thinking that created them. By Albert Einstein To ensure continued growth for your company, concentrate on meeting customers needs rather than selling products

Thank You