Marketing Myopia essays

Marketing Myopia essays Marketing Myopia is the failure to define an organization's purpose in terms of its function from the consumers' point of view. For example, railway companies that define their markets in terms of trains, rather than transportation, fail to recognize the challenge of competition from cars, airlines, and buses. It is therefore necessary to define the needs of the consumer in more general terms rather than product-specific terms. Marketing Myopia is the short sighted look of the managers in wrongly identifying the category and goals of the company, not looking at the whole industry of the product neglecting the fields of opportunities in their area of industry, not listening to the customer's real needs and expectations. Do not think bricks but think building materials. Do not think glass bottles, think containers. That way if building materials or containers change, the company can still be in business. More importantly, if the company thinks one level up and is in tune with the changes in its customer's needs, it has a chance to make changes in its production. Encyclopedia Britannica's temporary denial of the effect computers and CD-ROMs would have on its core business. The company thought that their business is to writing and selling books; they did not see the technological change and did not understand the meanings that something that was once priced at over $1,000 became a giveaway with most personal computers. Ouch! They should have realized they were in the business of selling Information and not just writing books. IBM - Thomas Watson, Jr., son of the IBM founder, tells in his book, Father, Son "We are in the business of supplying punch card machinery." The old-guard IBM making huge profits sellin ...