MARKETING MYOPIA
To ensure continuing growth, organizations need to define their industries as broadly as possible to take advantage of growth opportunities.
To continue growing, companies must ascertain and act on their customer’s needs and desires, not bank on the presumed longevity of their products.
Need to define their industry correctly, customer-oriented instead of product oriented.
The company have succeeded not primarily because of their product or research orientation but because they have been thoroughly customer-oriented also.
P. 25
SHADOW OF OBSOLESCENCE
Example: Dry cleaning, Electric utilities etc
P. 27
The history of every dead and dying “growth” industry shows a self-deceiving cycle of bountiful expansion and undetected decay. There are four conditions which usually guarantee this cycle:
1. The belief that growth is assured by an expanding and more affluent population.
2. The belief that there is no competitive substitute for the industry’s major product.
3. Too much faith in mass production and in the advantages of rapidly declining unit costs as output rises.
4. Preoccupation with a product that lends itself to carefully controlled scientific experimentation, improvement, and manufacturing cost reduction.
P. 27
POPULATION MYTH
ASKING FOR TROUBLE
The industry’s efforts have focused on improving the efficiency of getting and making its product, not really on improving the generic product or its marketing. Moreover, its chief product has continuously been defined in the narrowest possible terms.

P. 31
IDEA OF INDISPENSABILITY
Oil has never been a continuously strong growth industry. It has grown by fits and starts, always miraculously saved by innovations and developments not of its own making.
P. 31
PRODUCTION PRESSURES
Mass production does indeed generate great pressure to “move” the product. But what usually gets