Marketing Myopia

The term marketing myopia is coined by Theodore Levitt. Marketing myopia is an approach to marketing that focuses on needs of the company and product rather than needs of consumer. Marketing myopia leads company towards failure to understand the changing needs of consumer and adjust according to their changing taste and preferences.

Marketing myopia occur when business starts to think it is selling the product rather then the solution to the customers. There are so many big companies that have fallen down or gone out of business due to marketing myopia. The moment the business thinks that it is selling the product rather than needs of customers it start to focus more on product or needs of the company. The company doesn't earn profit by focusing on the needs of the product or company. It can earn only profit or revenue only by fulfilling the needs of the customers.

For example: Kodak film company which declines the needs of customer towards digital photography and continue on making reel film and didn’t see Sony as an potential customer due to which it loses huge market share.

Consumers are the one whom the businesses are meant to serve in order to make profit. So, all the business organization try to avoid marketing myopia and try to understand more about consumers needs and wants and should think about long term plan since business are meant to do for a long time not for a two or three days. And in order to avoid marketing myopia and to be successful in business sector, the businesses need to give priority to the needs of customers. Besides, all the business must understand or have the answers of the question, what business are they really in? Organization should really be more customer focused, innovation, conduct market research programs, marketing strategies should be prepared keeping in mind the feedback of consumers.

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