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Marketing Myopia - Critique

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Marketing Myopia - Critique

Marketing Myopia is an article written in 1960 by Theodore Levitt. Levitt was a marketing professor at Harvard who has published many articles on the subject. This article; however, is no doubt his claim to fame as it has been extremely well read over the years. This is due in large part to the consumer oriented approach to marketing that he argues for. Though common knowledge to the marketers of today, making the customer the first priority in business would have been easily overlooked during this era of production, selling, and basic marketing approaches to business.

This contends that the businesses of the day are extremely short-sighted when it comes to the true focus and associated advantages of marketing. He illustrates that a firm’s inability to elaborate on their given industry will result in lack of readiness towards competition and other threats when they arise. Failure to broaden the scope of said firm may result is a lack of innovation

Thus, in conclusion we see that companies or industries have a myopic outlook towards their business, largely due to the fact that they are oblivious of future trends of their resources. This is especially so, because the pressure on resources comes not from their own industry but related ones. What is more is that, as we have seen, competition comes from sectors that might seem totally unrelated to the business in question. New developments in upcoming industries must be thoroughly analyzed and their impact upon one’s own business must be thought of.

If one business chooses to remain isolated from the knowledge that exchanges hands within seconds in the world, it leads to them being myopic about their own businesses. The vicious cycle of faith in a permanent market share, over-obsession with their own product and the false aura of invincibility of the product starts, and corporate...

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