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Marketing Myopia

Theodore Levitt's 1960 Harvard Business Review article introduced the concept of "marketing myopia," which is defined as a short-sighted focus on the needs of the firm rather than defining products in terms of customer needs. Levitt argued that companies should concentrate on meeting customer needs rather than selling products. Marketing myopia can occur when companies become self-centered and believe customers will buy whatever they sell. To avoid failure, companies must diversify, evolve with customer trends, and focus on customer needs rather than their own products.

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4K views25 pages

Marketing Myopia

Theodore Levitt's 1960 Harvard Business Review article introduced the concept of "marketing myopia," which is defined as a short-sighted focus on the needs of the firm rather than defining products in terms of customer needs. Levitt argued that companies should concentrate on meeting customer needs rather than selling products. Marketing myopia can occur when companies become self-centered and believe customers will buy whatever they sell. To avoid failure, companies must diversify, evolve with customer trends, and focus on customer needs rather than their own products.

Uploaded by

SatishBhadra
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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MARKETING MYOPIA

Harvard Business Review (July August 1960)


By Theodore Levitt

Presentation By,
Satish Bhadra
Manisha Bose
Abhijeet Chauhan
Gaurav Chaohan
Presentation by
Sohan Paturkar 41
Abhijeet Pawar 42
Shreyas Purohit 43
Neeraj Rajpal 44
What is Myopia ?

Myopia in simple terms refers to being short-sighted.

It can also be termed as lack of foresight or a narrow view
of something.
Now what is Marketing Myopia ?
This concept was first discussed by Theodore Levitt, who
was then a lecturer in Business administration at Harvard
Business School, as a HBR article in 1960.

In this famous HBR piece written by Theodore in 1960, he
asked the famous question What business are you really
in ?.
Definition : 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 customer needs and
wants.


In simple words it suggests that the businesses would do
better in the end if they concentrate on meeting
customers needs rather than on selling products.
Causes of Marketing Myopia

Narrow minded approach to marketing situation where
only short ranged goals are considered.
Company is product oriented rather than being customer
oriented.
Shadow of obsolescence.
Marketing Myopia also occurs when the company
becomes self centered and begins believing that :

We are our own competitors.
Customers will buy whatever we will sell to them.
Customers love our products and services regardless of
what happens.

Impacts of Marketing Myopia

Short sightedness affects the mission and the vision of the
company over a long run.

Growth is affected and it may also lead to bankruptcy or
company getting dissolved.

Modern day relevance
Today we live within a society that is :
Fast-paced.
Continuously evolving.
Customers seek instant gratification.
Competition is stiff.
Companies either have to evolve as per emerging trends
and customer needs to survive OR die.
Avoiding Marketing Myopia :
Diversification
Do not bite off more than you can chew OR
Jack of all trades , but master of none

The above two phrases may be a good piece of advice in
other aspects of life but business.
Todays biggest empires and leaders of all industries have
proven that diversification is a must do if you want to
survive in todays competitive world.

All the leading industries and companies today are
competing in various trades , yet they are mastering at
least one of all the markets.
Examples: Success

1) PEPSI
Pepsi-cola is a good example where Marketing Myopia
is absent.





For a long time Pepsi cola continued to be the long lasting
runner-up to Coca-Cola until it decided to diversify.
The company began to penetrate into different markets
like chips and soft drinks.
Currently, Pepsi Cola is second in the market in
carbonated drinks, but they have become the leaders in
soft drinks and chips making almost double the amount of
net income for the year 2010.
2) NIKE
NIKE was originally known as Blue Ribbon Sports (BRS)
and it initially operated as a shoe maker distributor.

However Nike inc. chose to redefine their company
beyond what it was their original or initial product.

Today Nike Inc. has successfully diversified their
products becoming one of the leaders in the sports gear
and apparel industry.
Other Examples :
3) Samsung
4) Apple
5) LG
Examples: Failure

1) Kodak

Kodak film company is a great example in which
marketing myopia was present.

Kodak did not view Sony , basically an electronics
company , as a potential competitor.
2) Hindustan Motors Ambassador

Ambassador is now in a rut which is its own creation.
The company took the customers for granted and refused
to change when the entire market changed.
The brand did nothing when faced with competition from
Tata's and Maruti.
Instead of changing its core DNA, the brand relied upon
cosmetic changes.
When the brand needed a drastic revolutionary change,
HM decided to get stuck with the old product.
3) Sony
What Apple did to Sony, Sony did to Kodak .

CONCLUSION:

Pay Attention to your Customers
Never Stop Evolving
Practice Self-Cannibalism
Listen to the Experts

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