Thanks for sharing.Enter your email address to subscribe to Marketing Lessons and receive notifications of new posts by email. Almost all of them underwent a major restructuring. […] story short, Hollywood basically accept that they are in the matter of making movies and did not think about TV as a […][…] (2018). Theodore Levitt's 1960 article "Marketing Myopia" is a business classic that earned its author the nickname "the father of modern marketing." Instead of wandering around different stores for goods, people started to flock to supermarkets to get everything under one roof. H��W�n����C=�I�Lٱ2��c��$ (���e������9�6�j��Cf ������S��.�$�NY�����z0��߲���#��\�A��bW�rb?����ۛ���{���`w_.¨���d�V�/�e��U���U[g�m�������&NCk�_���N�Z����r��Ekϻ����N_ކ>/�Np�:���X���,.��7��?��Q=�]=�? This paper was first published in 1960 in the Harvard Business Review, a journal of which he was an editor. We should not fall a prey of myths like – Thank you for an amazing write up on Marketing MyopiaMarketing Myopia well explained with examplesThanks Sanjana. They should also be constantly looking to find out answers to questions such as, “What if they were to cater to a market with huge Thus, according to the MM Theory, for an organization to be able to cater to the needs of a market, it not only needs to be technically sound but also consumer oriented. It should also be able to understand the basic needs of the consumers and conduct regular research to find out various ways of improvising its products in an attempt to retain consumer’s interest for as long as possible.It should also keep looking at various possible ways of adapting itself to the ever changing market conditions and demands, only then can it survive the ever increasing competition.I love writing about the latest in marketing & advertising. However, if we see from a different lens, it is very much possible that the next wave of products do away with any electricity plugged in and might have there owned sustainable fuel cells which keep them running. When he wrote his piece, Levitt was thinking specifically of businesses in ‘high-growth industries’, who can become stuck in the belief that their industry will always be ‘high-growth’ and therefore never falter. The reason being, we all know that a huge chunk of human as well as financial resources are being invested in Hollywood to make movies. Once considered to be the bread and butter of many households, now retails stores face a threat from a supermarket, online shopping etc. However, what the dry cleaning guys didn’t realise was the fact that they were Though not as evident as the cases described earlier in this article, there is a high probability of consumer durable running on electricity to face obsolescence.The electric goods came into the picture at the cost of traditional fuel-driven appliances e.g. However, if we see from a different lens, it is very much possible that the next wave of products do away with any electricity plugged in and might have there owned sustainable fuel cells which keep them running. Imagine a smartphone which never needs to be charged. However, studies conducted later on showed that Hollywood would have made more money had it started catering to the needs of Television market, which has a much wider After Theodore’s point was proven practically, Both marketers and advertisers can use Marketing myopia theory to a great effect in understanding “if” they are catering to the needs of the right market. Imagine a smartphone which never needs to be charged. Marketing myopia – a watershed 5 Life cycles and evolution 7 Marketing misunderstood 8 The marketing function 9 Relationship marketing 11 Summary 14 References 15 Further reading 15 2 Postmodern marketing: everything must go! H��Wێ������~ Eventually somebody finds a way to serve customer needs better and the product becomes obsolete. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life - in business and beyond.
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