What is Marketing Myopia? Definition, causes & Example

Marketing Myopia

Today, we will discuss one of the biggest mistake that have been following by a lot of big entrepreneurs. This mistake is Marketing Myopia.

After starting let ask a question to you.

Do you know Marketing Myopia?

If you don’t know about it then lets drive-in.

We all know the meaning of ‘Myopia’ which is shortsightedness. So the total meaning of marketing myopia is that shortsightedness and narrowness of marketing activities.

In marketing myopia, businessmen have a limited vision, which is directly affected on their business.

The term ‘marketing myopia’ was first found in 1960 in a famous article written by Theodore Levitt for the Harvard Business Review.

In this article, Levitt argued that many companies followed inappropriate short term vision on the buyer’s perspective, not the customer’s perspective.

Marketing Myopia

When, a company only focuses on selling a product rather than the marketing, and customer demands, then marketing myopia brings out.

Marketing genius, Philip Kotler and Singh expressed a similar term of marketing myopia which is Marketing Hyperopia.

What is Marketing Myopia?

Marketing Myopia is a stage when the companies are only busy in creating product quality and not understanding the real needs of customers with shortsightedness and narrow vision.

When Marketing Myopia brings out?

Marketing Myopia occurs when companies are over confined in their marketing tactics with less amount of research and they feel that my product is the best ones.

Here are some reasons to bring out marketing myopia.

  • More focus on short-term vision rather than long term vision.
  • The primary goal is to sell the products and not to build customer-oriented products.
  • Over confined in marketing activities.
  • Belief that creates a better business model without the help of the market survey.
  • Mass production without knowing the actual needs of customers.
  • There are no competitions in the market.

Harvard economist and professor Theodore Levitt once told that Business is actually a customer satisfying institution and hence should be based on customers’ and society’s needs and desires.

How to rid from Marketing Myopia?

  • A belief that the growth of the business is guaranteed by creating products and services on the basis of customer’s demands.
  • Make sure you’re providing value to the importance of customer’s needs.
  • Build a better relationship with customers.
  • Make any step after analyzing the market research.
  • Analyze competitors’ strategy.

Examples of Marketing Myopia:

Marketing Myopia is followed by Very well-known companies. And it helps to lose their market shares.

  • Kodak only focuses on creating an old camera and camera rolls not to focus on creating the digital camera.
  • Nokia falls the grade of their products compare to android and ios.
  • Detroit Automobile Industry doesn’t focus on competitors’ strategy.
  • Yahoo ($100 billion dollars company in 2000), or Bing didn’t fulfill customer satisfaction but the other hand Google builds better relations with its services. For this reason, Yahoo or Bing audiences are shifted on Google.
  • Oil and Gas Companies have provided non- renewable energy in the early days but after some years there are some alternative sources of energy like solar energy, and nuclear energy, etc.

Is Apple following it?

Samsung creates lots of varieties in the mobile industry like they reveal a curved screen display and many more.

But the other hand Apple only enhances the past features in mobiles which is the biggest mistake by them.

Innovation is the future.

Now a day most of the people buy Apple for their brand value, not their extraordinary specification.

Apple iPod has less amount of market share and less amount of market demand but they highly attached to their product. For this reason, they don’t stop the manaturfuring of the product.

So, this is the sign of Marketing Myopia.

Conclusion:

Hope you understand one of the biggest mistake in the marketing industry.

What did you think of this? Do I miss something? Let us know if you want to add something to the list.

Marketing Myopia FAQ:

What is Marketing Myopia?

Marketing Myopia is a stage when the companies only busy creating product quality and not understanding the real needs of customers with shortsightedness and narrow vision.

What causes marketing myopia?

Marketing Myopia occurs when companies are over confined in their marketing tactics with less amount of research and they feel that my product is the best ones.

What is an example of marketing myopia?

Kodak only focuses on creating an old camera, Nokia fall the grade, Detroit Automobile Industry doesn’t focus on competitors’ strategy, and Oil and Gas Companies, etc

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