Its theme is that the vision of most organizations is too constricted by a narrow understanding of what business they are in.
In a more specific response, failure of the organization rest on the top executives who are responsible for broad aims and policies Levitt, Marketing myopia does not prescribe being myopic about marketing.
This can entail the use of long-term profit objectives. Second, the company must Marketing myopia article summary a vigorous leader whose vision and drive set the pace for the company.
At the time of the publication of this article, Theodore Levitt was a lecturer in Business Administration at the Harvard Business School; now, he is a full-fledged professor. The article explains how companies fall to the extinction list in relatively short Marketing myopia article summary periods or are revived by other companies whose product relies on theirs.
While this is a legitimate concern, it is also possible to use a whole range of business prediction techniques currently available to estimate future circumstances as best as possible. One reason that short sightedness is so common is that people feel that they cannot accurately predict the future.
Take the detergents market, for example. Others have developed similar terms. The preferred route, instead, was a detergent bar. Looking for mass production is selling, not marketing. Even more dramatic is the first paragraph of this seminal article which reads: Let us return to Theodore Levitt and his seminal article.
The outcome has been ambiguity, frustration, confusion, corporate infighting, losses, and finally a reversion to functional arrangements that only worsened the situation.
It did not pretend to take a balanced position. A lot of bizarre things have happened as a result of the article: According to Levittthe idea that profits are assured by and expanding and more affluent population is dear to every industry.
Levitt explains the four steps companies must take to ensure they do not catch the myopic views. Mass production obviously had a place in the plan but it followed a hard thinking about the customer. They are growing with the illusion that a superior product will sell itself because they have created a successful product.
Not everything has been rosy. Harvard Business Review, Businesses are no longer able to sit back and enjoy continued market growth. They must focus on the buyers needs and at the same time take necessary steps to make its own products obsolete. The mains functions of an industry should be: But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline.
The future of any product is not a more technological one, but a product that satisfies a powerful customer need. Some commentators have suggested that its publication marked the beginning of the modern marketing movement.
Every major industry was once a growth industry. Marketing staffs have suddenly and rapidly expanded themselves and their research budgets without either getting sufficient prior organizational support or, thereafter, producing sufficient results. Lastly, the company must think of itself as buying customers.
Levitt uses the oil industry, automobile industry, transportation industry, and electronics industry to support that notion. Organizations found that they had been missing opportunities which were plain to see once they adopted the wider view.
In every case the reason for growth is threatened, slowed, or stopped is not because the market is saturated; it is because there has been a failure of management. Levitt continues the explanation of Marketing Myopia by ruling out the population myth.
Lastly, Levitt summaries what is necessary to avoid the marketing myopia syndrome from an overview. It was myopia which prevented some of the largest companies in the country such as Hindustan Lever and Tata from developing a detergent powder which could convert the laundry soap user.
Others which are thought of as seasoned growth industries have actually stopped growing. Marketing Myopia Report Report based on Marketing Myopia article published by Harvard Business Review and written by Theodore Levitt.
In this report is going to be given answer to 3 questions based on the researches that been concluded. Looking for mass production is selling, not marketing.
“The marketing effort is still viewed as a necessary consequence of the product – not vice versa, as it should be. levitt, marketing, Myopia, report, sell, summary.
Marketing Myopia Summary. MARKETING MYOPIA: Theodore Levit The first thing that Theodore Levit does in his article “marketing myopia” is denying the title of forever growth industry to any industry that ever existed and claimed to be so.
He believes every industry has been a growth industry at some point of time, but they could not carry the tag along because of several reasons; and none. How has marketing myopia evolved?
The concept has stayed in tact over the last plus years. Deighton says that that is because the original article was like a “polemic, almost like a religion. And any attempts to augment, complicate, or interfere with the polemic don’t work.” The idea has become the foundation of modern marketing.
Marketing Myopia (Article Critique) Name University Marketing Myopia (Article Critique) “Marketing Myopia” was written by Theodore Levitt for the Harvard Business Review and. Marketing Myopia The first thing that Theodore Levit does in his article “marketing myopia” is denying the title of forever growth industry to any industry that ever existed and claimed to be so.
He believes every industry has been a growth industry at some point of time, but they could not carry the tag along because of several reasons and 5/5(1).Download