What is marketing myopia and what does the theory suggest. Packards 1957 hidden persuaders and levitts 1960 marketing myopia, marketing as both an academic and business discipline has become more sophisticated in its. Jun 21, 2019 the marketing myopia theory was proposed by theodore levitt. Building a foundation for your future 4 customer characteristics and purchasing hot buttons provide the information needed to decide whether the firm can and should attempt to gain or maintain a sustainable competitive advantage for marketing to a particular market segment lehmann and winer 1994. In marketing myopia, theodore levitt offers examples of companies that became obsolete because they misunderstood what business they were in and thus what their customers wanted. Marketing managementis the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges. The marketing job, as theodore levitt defined it, is a tightly integrated effort to discover, create, arouse, and satisfy customer needs. Levitt described the marketing myopia of some organizations. The theory states that marketers should look towards the market and modify the company. Ppt marketing myopia by theodore levitt powerpoint.
Pdf corporate marketing myopia and the inexorable rise of a. For an organization to be able to cater to the needs of a market, it not only needs to be technically sound but also consumer oriented. Marketing myopia, a useful marketing strategy theory toolshero. Levitts marketing myopia16, kodaks lack of strategic creativity led it to misinterpret the very line of work and type of industry that it was operating in which was later devastated with a fundamental shift towards the digital age.
Marketing myopia is a concept developed by theodore c. Vivek kapasi, vivek kedia, viraj patil, vruti shah, yashraj bhatt. May 06, 2008 in marketing myopia, theodore levitt offers examples of companies that became obsolete because they misunderstood what business they were in and thus what their customers wanted. What is marketing myopia, and how can it be avoided. Kodak had the myopic view that the company was in the film business rather than the storytelling business. Munich personal repec archive green marketing is a sustainable marketing system in the twenty. The new marketing myopia stems from three related phenomena.
Pdf marketing myopia by theodore levitt may boutaleb. Other which are thought of as seasoned growth industries have stopped growing. Marketing myopia is when a firm goes into decline due to a productfocus as opposed to a customerfocus. Marketers suffering from the new marketing myopia view the customer only as a. Levitt, who was then a lecturer in business administration at the harvard busi. A free powerpoint ppt presentation displayed as a flash slide show on id. Marketing myopia what is the concept of marketing myopia. To remain relevant, focus on the true problem you solve. In marketing, it supports the analysis of pricing policies, product design, development and positioning, communications strategy, and channels of distribution. Digital marketing, social media and mobile devices have dramatically changed how we connect with our audiences. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life in business and beyond.
Levitt described the marketing myopia of some organizations whose definition of their mission failed to recognize the threats and opportunities in the external marketplace. Dont see yourself as selling a product rather then seeing providing a solution to a need. Summarizing state of affairs university of british columbia. How do i find theodore levitts classic hbr article. Marketing story of sliced bread otto frederick rohwedder the jeweler developed in 1912 bread slicing machine prototypeblue prints destroyed in 1928 adopted in 1930 by wonder bread feature sliced bread benefit stayed fresh 18 years of marketing marketing is an ongoing process and failure is an option. When a company focus more on sales than on marketing and. Mar, 2018 marketing myopia is a concept developed by theodore c. Eventually somebody finds a way to serve customer needs better and the product becomes obsolete. Marketing myopia theodore levitt every major industry was once a growth industry. The marketing mix revisited 411 during the 70s, the emphasis on the exchange transaction in the 80s, the development of the relationship marketing and total quality management in the 90s yudelson 1999 and last but not least the emergence of information and communication technologies as major actors of the 21st century marketing. Marketing myopia team 5 free download as powerpoint presentation.
Marketing myopia marketing myopia is a term used in marketing as well as the title of a marketing paper written by theodore levitt. Marketing myopia a watershed 5 life cycles and evolution 7 marketing misunderstood 8 the marketing function 9 relationship marketing 11 summary 14 references 15 further reading 15 2 postmodern marketing. Marketing myopia what is the concept of marketing myopia ikf. Marketing, corporate policy, vertical integration, masdar institute. Theodore levitt, marketing myopia, contemporary marketing. Article pdf available in european journal of marketing 45. A summary on marketing myopia marketing myopia is a term used in marketing which has been written by theodore levitt. Scribd is the worlds largest social reading and publishing site. Theyve created a tremendous opportunity, as well as a tremendous burden. However, it is apparent from the foregoing discussion of the new marketing myopia that a more appropriate definition of marketing management alone i. We examine both the value of the marketing function and its scope in a largescale.
At the heart of this framework is the idea that the marketing function facilitates the link between the customer and various key processes within the firm day 1994. For example, i just sell pants and shirts rather then trying to dress the customer and sell them a complete outfit, with accessories even. His marketing myopia is something of a sacred text around the velocity campus. Explore this article to understand what marketing myopia means. Sep 29, 2017 marketing myopia is when a firm goes into decline due to a productfocus as opposed to a customerfocus. As the name describes the story, basically this concept talks about short. In addition, the document will correlate levitts work in 1960 to contemporary marketing. The marketing myopia theory was proposed by theodore levitt. In addition to the everyday aspects of running a business, a company has to consider materials, energy shortages, inflation. His most recent books are thinking about management 1990 and the marketing.
The reason they defined their industry wrong was because they were railroadoriented in every major. Lacking foresight or intellectual insight marketing myopia. Marketing myopia an update how theodore levitt changed our. He identifies the four widespread myths that what business is your company really in. Kodak lost much of its share to sony cameras when digital cameras boomed and kodak didnt plan for it nokia losing its marketing share to android and ios hollywood didnt even tap the television market as it was focused just on movies. The important point to remember is that the marketing plan is a document designed to present concise, cohesive information about a companys marketing objectives to managers, lending institutions, and others who are involved in creating and carrying out the firms overall business strategy. Levitts fundamental question, what business are you in. Ideally, marketing should result in a customer who is ready to buy. In this lesson, we will introduce you to the business function of marketing. Professor theodore levitt, legendary marketing scholar and. For many years, the railroads described themselves as railroad companies. A free powerpoint ppt presentation displayed as a flash slide show on.
Instead of marketing the new technology, the company kept it under wraps for fear of hurting its lucrative film business. This leads the firm to continually improve a narrowly defined product without inventing new ways to meet customer needs. Marketing myopia an update how theodore levitt changed. Marketing myopia is the quintessential big hit hbr piece. May 19, 2016 grow how to avoid myopia and remain relevant even the mightiest companies fail when they lose sight of the business theyre really in.
Marketing is the delivery of customer satisfaction at a profit. Marketing myopia, marketing hyperopia, or marketing macropia. It is a broad discipline and as such has numerous definitions, see table 3. Deighton says that that is because the original article was like a polemic, almost like a religion. Marketing myopia is when a business concerns itself more with its needs than the needs of its target market its customers. Its a concept which was proposed by theodore levitt in 1960. Alex elwood nikolas foster blake overall shaelee pittenger lorelei wilson what is myopia nearsightednessnot inherited. In it, theodore levitt, who was then a lecturer in business administration at the harvard busi ness school, introduced the famous question, what business are you really in. Free registered users may view 3 magazine articles per month. An introduction 1 to marketing research successful entrepreneurs must adapt to an everchanging business environment. Understanding marketing myopia term coined by theodore levitt refer to the short sightedness the marketer wants to sell the product and services, without much focusing on the customer demandsneeds.
Theodore levitt, a longtime professor of marketing at harvard business school in boston, is now professor emeritus. Professor levitt has explained marketing myopia as a coloured. Green marketing 2012 munich personal repec archive. Marketing itself is the field in which research is conducted into how the market can best be conquered and where customers also remain customers through repeat purchases and related products. The concept has stayed in tact over the last 50plus years. Jul 04, 2015 a summary on marketing myopia marketing myopia is a term used in marketing which has been written by theodore levitt. Marketing myopia is the name given to companies that are shortsighted and look no further than their own product. Grow how to avoid myopia and remain relevant even the mightiest companies fail when they lose sight of the business theyre really in. According to the writer, businesses will do better in the end if they focus their attention on meeting customers needs rather than on selling products. Packards 1957 hidden persuaders and levitts 1960 marketing myopia, marketing as both an academic and business discipline has.
The internet has fundamentally changed the marketing function, causing the greatest shift in the field since the invention of the television. In essence, marketing myopia occurs when an organization focuses too. Why marketing myopia can be deadly and how to avoid it. Marketing myopia marketing myopia at this stage, it would be appropriate to explain the phenomenon of marketing myopia. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. Marketing myopia free download as powerpoint presentation.7 487 1396 497 1555 331 521 1338 1031 699 757 813 1140 1155 414 1510 848 643 1401 705 192 1449 368 1348 237 133 672 467 622 1521 500 858 896 1056 252 353 750 1202 682 627