Marketing Myopia

First expressed in an article by Theodore Levitt in Harvard Business Review, it is a short-sighted and inward-looking approach to marketing which focuses on fulfillment of immediate needs of the company rather than focusing on marketing from consumers’ point of view.

Marketing myopia strikes in when the short term goals are given more importance than the long term goals. Some examples being:
– More focus on selling rather than building relationships with the customers.
– Predicting growth without conducting proper research.
– Mass production without knowing the demand.
– Giving importance to just one aspect of the marketing attributes without focusing on what customer actually wants.
– Not changing with the dynamic consumer environment

Some of the real-world examples include:
– Kodak lost much of its share to Sony cameras when digital cameras boomed and Kodak didn’t plan for it.
– Nokia losing its marketing share to android and IOS.
– Hollywood didn’t even tap the television market as it was focused just on movies.
– Yahoo (worth $100 billion dollars in 2000) lost to Google and was bought by Verizon at approx. $5 billion (2016).

Recent Posts

  • Blog

Thoughts on Bitcoin economics:

Gold miners employ (human) resources to add gold to circulation. In bitcoin's case, the resources… Read More

6 months ago
  • Blog

Growth-hack learnings from Clubhouse

Scarcity is an effective motivator. Google did this for Inbox, sharing a small range of… Read More

6 months ago
  • Blog

A simulated reality with silicon consciousness

The theoretical computation of brain activity may get us an exact copy of one's brain… Read More

6 months ago