On the basis of study made by boone and kurtz, 2015, new marketing myopia is related to three phenomena 1 a singleminded focus on the customer to the exclusion of other stakeholders, 2 an overly narrow definition of the customer and their needs, and lastly, 3 failure to recognize the changed societal context of business that is a necessity for addressing multiple. In this article, the authors argue that marketers have learned this lesson too well, resulting today in a new form of marketing myopia, which also causes distortions in strategic vision and can lead to business failure. Theodore levitts marketing myopia colin grant abstract. Levitt 1960 miopia em marketing linkedin slideshare. Marketing myopia is the inefficiency of the top management to broadly define its business and meet customer needs resulting to the decline of the product. We argue that they learned this lesson too well, resulting today in a new form of marketing myopia. Refers to the historic article by theodore levitt, entitled marketing myopia, that. Use features like bookmarks, note taking and highlighting while. Which marketing concept may lead to marketing myopia. According to the writer, businesses will do better in the end if they focus their attention on meeting customers needs rather than on selling products. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life in business and beyond. 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.
Others dont, and the lessons of marketing myopia continue to apply fiftyfour years after publication. Marketing, marketing management, marketing myopia, strategic management, competitive strategy. Marketing myopia is a narrowminded approach to a marketing situation, wherein an organization focuses more on its product offerings rather than its customers and markets demand. In this article, theodore levitt expresses his views on how industries failed to continue their growth due to lack of realizing the need of expanding into sectors adjacent to which they are already working.
A free powerpoint ppt presentation displayed as a flash slide show on id. Levitt, who was then a lecturer in business administration at the harvard busi. The potential threat of marketing myopia explained with examples. Marketing myopia occurs when company leaders define their mission too narrowly. The marketing 101 dictum to define yourself by markets rather than technology isnt especially useful as a business rule.
Marketing myopia is a term used in marketing which has been written by theodore levitt. Packards 1957 hidden persuaders and levitts 1960 marketing myopia, marketing as both an academic and business discipline has become more sophisticated in its. Levitt marketing myopia free download as powerpoint presentation. Companies stop growing because of a failure in management, not because the market is saturated but because of myopia. Businesses will do better in the end if they concentrate on meeting customers needs rather than on selling products. Aug 22, 2016 marketing myopia remains an important reminder of the risks your company runs if you dont pay close attention to your consumers needs. Packards 1957 hidden persuaders and levitts 1960 marketing myopia, marketing as both an academic and business discipline has become more sophisticated in its methods and delivery, contributing to increasing prosperity. All content included on our site, such as text, images, digital downloads and other, is the property of its content suppliers and protected by us and international laws. Marketing myopia suggests that businesses will do better in the end if they concentrate on meeting customers needs rather than. Marketing myopia suggests that businesses will do better in the end if they concentrate on meeting customers needs rather than on selling products.
What is marketing myopia and what does the theory suggest. Levitts fundamental question, what business are you in. Packards 1957 hidden persuaders and levitt s 1960 marketing myopia, marketing as both an academic and business discipline has become more sophisticated in its. The reason they defined their industry wrong was because they were railroadoriented in every major. Alex elwood nikolas foster blake overall shaelee pittenger lorelei wilson what is myopia nearsightednessnot inherited. Marketing myopia is a concept developed by theodore c.
Levitt famously described how the railroad business and the movie industry lost great opportunities by focusing on themselves rather than their clients. His most recent books are thinking about management 1990 and the marketing. That is the legacy of mass production, with its parochial view that profit resides essentially in lowcost full production. He earned a phd in economics from ohio state university, began teaching at north. Theodore levitt s marketing myopia colin grant abstract.
Ppt marketing myopia by theodore levitt powerpoint. Theodore levitts 1960 article marketing myopia is a business classic that earned its author the nickname the father of modern marketing. Marketing itself is the field in which research is conducted into how the market can best be conquered and where customers also remain customers through repeat purchases and related products. The marketing effort is still viewed as a necessary consequence of the product not vice versa, as it should be. Theodore levitt was born in 1925 in germany, and in 1935, with his family, fled nazi germany for the us. Marketing myopia free download as powerpoint presentation. Marketing myopia takes a limited marketing view that focuses on the need of the business rather than those of the prospects. Marketing myopia an update how theodore levitt changed. Marketing myopia presented by ngan nguyen wangjung lee zhouyang lu theodore levitt author of the article professor at the harvard published six books died at 81. Marketing myopia definition by babylons free dictionary. Marketing myopia is the quintessential big hit hbr piece.
In addition, the document will correlate levitts work in 1960 to contemporary marketing. Looking for mass production is selling, not marketing. An industry is a customersatisfying process, not a goodsproducing process. The organizations need to look around them to the changing environmentnot only local changes rather a birdseye view of the world around them. More than 20 years ago, theodore levitt penned his wellknown marketing manifesto, marketing myopia. Marketing myopia is used in marketing as well as the title of a marketing paper written by theodore levitt. Marketing myopia introduction why customers suffer. As the name describes the story, basically this concept talks about short. Marketing myopia by theodore levitt, 1960, article critique.
Jun 21, 2019 the marketing myopia theory was proposed by theodore levitt. Marketing myopia by theordore levitt in chm, djvu, txt download ebook. In this article, the authors argue that marketers have learned this lesson too well, resulting today in a new form of marketing myopia, which also causes distortions in strategic vision and can lead to. Theodore levitt, marketing myopia, contemporary marketing. However, those corporate managers ignoring levitts advice in marketing myopia should be reminded of the fate of kodak, wang computer, blockbuster, circuit city, borders and the ailing u. In this widely quoted and anthologized article, first published in 1960, theodore levitt argues that the history of every dead and dying growth industry shows a.
Marketing myopia is a term used in marketing as well as the title of an important marketing paper written by theodore levitt. Also known as the shortsighted approach to marketing, the focus is to sell products and therefore for profitdriven. Download now theodore levitts 1960 article marketing myopia is a business classic that earned its author the nickname the father of modern marketing. Marketing, corporate policy, vertical integration, masdar institute. Marketing myopia as defined by theodore levitt could teach a lot of organizations the importance of clearly defined purposes and customer value. Levitt believed that executives couldnt predict the. Pdf marketing myopia by theodore levitt may boutaleb. Ppt marketing myopia powerpoint presentation free to. Eventually somebody finds a way to serve customer needs better and the product becomes obsolete. Looking at the market from a myopic perspective results in the company ignoring the many opportunities and. The new marketing myopia abstract during the past half century, marketers generally have heeded levitts 1960 advice to avoid marketing myopia by focusing on c ustomers. An introduction to theodore levitts marketing myopia duration. But levitt himself not only ends up endorsing selling.
In his groundbreaking article marketing myopia theodore levitt describes how industries and companies can drive themselves to death by focusing on the wrong priorities. Download it once and read it on your kindle device, pc, phones or tablets. Marketing myopia, a useful marketing strategy theory toolshero. Theodore levitt s 1960 article marketing myopia is a business classic that earned its author the nickname the father of modern marketing.
Theodore levitt, a longtime professor of marketing at harvard business school in boston, is now professor emeritus. This leads the firm to continually improve a narrowly defined product without inventing new ways to meet customer needs. Levitt s fundamental question, what business are you in. Marketing myopia remains an important reminder of the risks your company runs if you dont pay close attention to your consumers needs. The potential threat of marketing myopia explained with. The theory states that marketers should look towards the market and modify the company. Scribd is the worlds largest social reading and publishing site. Marketing myopia is when a firm goes into decline due to a productfocus as opposed to a customerfocus. How do i find theodore levitts classic hbr article. Marketing myopia by levitt theodore 1975 by abhinav kp 2. Pdf marketing myopia download full pdf book download. Marketing myopia an update how theodore levitt changed our.