MARKETING MYOPIA

Ø  IBPS SO MAINS/MARKETING2019 LEC 3
MARKETING MYOPIA
MARKETING MYOPIA

Ø  EXPRESSED BY THEODORE LEVITT

1. IS A SITUATION WHERE THE COMPANY HAS A NARROW MINDED MARKETING APPROACH
2. FOCUSES MAINLY ON ONLY ONE ASPECT OUT OF MANY POSSIBLE OF MARKETING ATTRIBUTES LIKE JUST FOCUSING ON QUALITY NOT ON THE ACTUAL DEMAND OF THE CUSTOMERS
3. COMPANY MORE FOCUSED ON SELLING RATHER THAN BUILDING RELATIONSHIP WITH THE CUSTOMERS
4. PREDICTING GROWTH WITHOUT CONDUCTING PROPER RESEARCH
5. MASS PRODUCTION WITHOUT KNOWING THE DEMAND
6. NOT CHANGING WITH THE DYNAMIC ENVIRONMENT
7. A SHORT SIGHTED AND INWARD LOOKING APPROACH TO MARKETING WHICH ONLY FOCUSING ON COMPANY'S NEEDS INSTEAD OF CONSUMER’S NEEDS AND WANTS.
8. IT RESULT IN FAILURE TO SEE AND ADJUST TO RAPID CHANGES IN THEIR MARKETS.
9. COMPANIES GET TRAPPED IN THIS SITUATION BECAUSE THEY OMIT TO ASK THE VITAL QUESTION,” WHAT BUSINESS ARE WE IN?
10. FOCUSING ON PRODUCT ORIENTED INSTEAD OF CUSTOMER ORIENTED
11. THEODORE SAYS,” PEOPLE DON'T WANT TO BUY A1/4 INCH DRILL THEY WANT TO BUY ¼ INCH HOLE.”