The root cause of marketing myopia is that companies believe they’re in a growth industry, or that their products are inherently desirable. No business is simply destined for growth– brands must constantly identify and capitalize on opportunities for success by seeking to fill a need.
What is marketing myopia ? It’s a theory that states companies focus on their needs and short term growth strategies. They neglect the needs and wants of their customers and fail as a result.
If your business is affected by marketing myopia that means your management is very poor . You will need to improve your management. A good product does marketing itself, so instead of focusing on selling, focus on your product to meet your customers need.
For companies to be successful they must focus on satisfying their customers’ needs. While no one can predict the future, in order to survive, companies must focus on satisfying their customer needs, not just the products they produce. They must define their businesses broadly to avoid marketing myopia .
A short-sighted and inward looking approach to marketing that focuses on the needs of the company instead of defining the company and its products in terms of the customers’ needs and wants. It results in the failure to see and adjust to the rapid changes in their markets.
The “ new marketing myopia ” occurs when marketers fail to see the broader societal context of business decision making, sometimes with disastrous results for their organization and society.
Strategic myopia is a condition in which the management of a business can see clearly those things that are to take place in the short term, but have only a fuzzy view of what their future might be over the longer term.
Self – Deceiving Cycle Self – deceiving cycle occurs when companies lack the vision. Inappropriate self – assessment system leads to failure in the long run.
Lifestyle and home remedies Have your eyes checked. Do this regularly even if you see well. Control chronic health conditions. Protect your eyes from the sun. Prevent eye injuries. Eat healthy foods. Don’t smoke. Use the right corrective lenses. Use good lighting.
Marketing Myopia becomes very important if a company understands it. Sometimes there is too much focus on selling in the short term that they stop understanding the consumer behavior especially the needs of the customer. The company needs to research what product they can make and which need they want to compete for.
What is the relationship between marketing concept and marketing myopia ? Though both concepts /theories are different, they both require similar steps. As stated above, in marketing requires advertising, public relations , promotions and sales are important just as it is in market myopia .
Holistic marketing refers to a marketing strategy that considers the whole of a business. And all the different marketing channels as a system. Under a this approach, a business with different departments comes together. Holistic marketing creates a united and positive business image.