MARKETING MYOPIA NOWADAYS
Economics in English
Fifty years ago Theodore Levitt wrote a remarkable article. It exposed two main ideas concerning businesses â€“ companies need to understand what business they are really in; and whatever business they are in, satisfying their customers is fundamental. He coined the term â€˜marketing myopiaâ€™ - a term used to describe the short-sightedness of many organizations, which build their business around their product and not around the customers, which often leads to their downfall. What is most remarkable about it is that 50 years after the article was published it is still valid, there are still many ...view middle of the document...
What is required for driving a business is thinking out of the box, first finding a niche, then capturing a segment, after what capturing a market, and not until then capturing an industry.
I assume it may be useful first to trace the development of oil companies, which were one of the main examples of myopic companies Theodore Levitt pointed. In the middle of the 20th century they were simply defined as in the â€˜oil industryâ€™. However, there is a great development in those companies, e.g. BP Global, Shell, Exxon Mobil etc. â€“ every oil giant is now providing not only oil, but energy in various forms. Apparently, oil companies have come out of their myopic business views and are strategically positioned in the world of today and tomorrow trying to discover the new faces of energy.
As we viewed oil companies development from myopic to marketing-oriented ones, we shall now examine the current myopic issues in the business world. We can easily recognize numerous myopic industries of the 21st century. However, as the world is changing, marketing myopia can now be defined not only as not concentrating on the customers, but there might be a reverse effect â€“ too much concern about the customersâ€™ needs and wants might ignore the competition and consequently lead to the decline of an organization or a whole industry.
Easily defined myopic â€˜industryâ€™ is libraries. The conclusion can be easily drawn by every more-than-20-year-old who remembers eagerly going to the library to take some new books, and it was the library where we went, because the choice was spectacular and the readers were gathering together, there were even literature clubs with a meeting every week etc. However, the transition from print resources to new information technology represents a huge trap for public libraries. Literature forums wiped out literature clubs, electronic books, Kindle especially, became more convenient for readers, the easy access to every archive in the world through the internet made it senseless to go to the library, look for the book, register the book and go back home to read it. Of course, we should differentiate between different types of libraries, for example public and academic. In this case of marketing myopia we are referring to public libraries, where the world knowledge is gathering dust on some shelf. The problem here lies on the gap between the seller and the buyer needs â€“ the libraries need circulation of their books, while buyers, here readers, are looking for information, education and ease of access to those needs. The solution is for libraries to make online archives of their books and to make them accessible for the readers, registered in the library. In fact, there are number of libraries which recognized the competition in the case of the internet and started broadening their services. However, if the transformation of the public libraries into online public libraries does not occur soon we may witness the...