Marketing myopia

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Marketing myopia term used by Theodore Levitt First published in Harvard business School 1960 *******************************************************************************
This concept says that marketed will do better if they concentrate on understanding customers requirement customers need customer wants customers desire rather than selling products Myopic culture possessiveness about their products will surely feel the product Marketer is in misconception that our product is good our product is the best we are in the growth phase we are surely number one and we will sell more more products than other companies *******************************************************************************
This is called short sightedness of the marketer *******************************************************************************
But I cannot able to see the change in the preferences test of the customer It is because of marketing myopia is because of short sightedness of companies and marketer and they fail to understand what customer needs and what business they are in and where their businesses leading to or will grow in future their completely on wrong path or wrong track *******************************************************************************
They have completely wrong vision about the future in that particular industry *******************************************************************************
Oil and petroleum companies after reading this paper research paper define their products more than just oil and petroleum One important thing where most of the marketer de fall prone to marketing myopia because they feel to predict the accurate future You should able to predict the future changes in your industry *******************************************************************************
There is no growth industry or no growth cycle there are just opportunities in industry you just have to use it utilise it Those companies who fall prone to marketing myopia shows *******************************************************************************
they are into expanding form and they feel that if there is more expansion more profit will be generated The family believe that there is no substitute product available for the industries product Too much faith in mass production *******************************************************************************
Companies to possessive about their product and innovation and company feels great and feels that they are the market leader and too much confident about selling that product in the market company is not in the mood to listen to customer and understand their need and their company fails miserably and sales would happen as per expectation in fact very less very few sells happen *******************************************************************************
Good feature about the product and industry Company feels that their perfect Product we are preparing is the best There will be no substitute for our product in the market or in the industry Underestimate the Competitors Company of the market will not change from their stand Great example is Nokia *******************************************************************************
Nokia initially was the market leader in its category of cell phone for mobiles *******************************************************************************
Nokia was preparing good mobile for cell phone in each and every category Nokia what's the popular brand and having major market share in the industry There seems to be Monopoly of Nokia in smartphone and mobiles But Nokia did not change itself even after the entrance of Android operating system *******************************************************************************
Android to first went to the Nokia to change their operating system from symbiont to Android But Nokia was short sightedness and Nokia failed to see the future Nokia had very less unlimited vision for smartphone and mobile Nokia was obsessed about their products and feel to understand of the customer Nokia did not trust the future technology *******************************************************************************
but same time Samsung invested in Android he understood the future you understood this scope understood the customer need customer want customer desire and customer change preference taste *******************************************************************************
Samsung immediately change their operating system from symbian to Android Samsung phone because very popular and people started buying it Soon Samsung overtakes Nokia *******************************************************************************
Nokia still did not realise what is happening Nokia lost the battle and Samsung where the major market leader and player in that industry Nokia failed miserably One time Nokia understood it's mistake but it was too late to repair that mistake *******************************************************************************
Same thing happened with Micromax Micromax product where is good Micromax feel to understand customer need preference change and test Micromax we are not having good vision and you too short sightedness lost the battle and loss the preference from the customer lost the sale and lost the market share *******************************************************************************
Kodak was also failed because of short sightedness marketing myopia Kodak was focusing more on reel photography That was the old technology Kodak did not change Kodak not have region code I did not understand the future *******************************************************************************
Same time Sony came up with digital camera people like that and people so it user friendly people see the value people see the benefit and people accepted and rejected the Kodak *******************************************************************************
Pepsi Pepsi is also market leader in its category but it continuously focus on creativity innovation and launching new products and understand the market understand the customer needs want changes preferences its taste Do there is competition between coca cola and Pepsi People still like Pepsi products and continue to buy and they see innovation and new products satisfying their needs all over the world *******************************************************************************
To reduce the impact of competition Pepsi decided to divert their revenue and launch food products under the name of lays and reduce the risk *******************************************************************************