Sunday, 25 November 2012

MARKETING MAYOPIA


The concept of marketing myopia was discussed in an article (titled "Marketing Myopia," in July-August 1960 issue of the Harvard Business Review) by Harvard Business School emeritus professor of marketing, Theodore C. Levitt (1925-2006),

Meaning 1: “A short-sighted, temporary, narrow down approach and inward looking approach to marketing that focuses on the needs of the company instead of defining the company and its products in terms of the customers' needs and wants. It results in the failure to see and adjust to the rapid changes in their markets.”

Meaning 2:When a firm changes its marketing focus from customer to its product or the company itself, it is also called myopia”