Marketing Myopia and Practical Concepts of Learning

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Marketing Myopia and Practical Concepts of Learning

20 Sep 2022
- admin
- Industry Insights
The concept of Marketing Myopia was coined by the American Professor – “Theodore Levitt” in the year 1960. He says that Marketing Myopia is a short-sighted, narrow-minded view of marketing and its environment, and it must be avoided at all costs. Marketing myopia is an inefficient marketing approach.

Basically, Marketing Myopia means lack of insight into a business from future perspective. Future includes long term planning of all strategies and actions towards encouraging and enhancing the business.

In today’s era, marketing has become a very important component of business strategy and business growth. Gone are the days when manufacturers were the kings of the market. Today, the customer rules over everything, and the customer is everyone’s focus.

Marketing myopia strikes in because each time there’s a start of any new business – short term goals are given more importance than long term goals. And to turn any business into a success, the most important concept is foresight – where would you like to see your business in another 10-15 years and not just 2-3 years down the line.

Few examples of Marketing Myopia:
1. Kodak: There was a time when Kodak was at the peak of the market for cameras, but they refused to innovate and the launch of Sony’s digital cameras kicked out the well settled brand.
2. Blackberry: Sometime back in the year 2006, Blackberry had a market share of 20% but when smartphones entered the market – Blackberry’s market share started declining resulting into 0% market share.
Firms that focus only on production and manufacturing tend to develop a narrow or short-sighted view. Most business sees customers as a homogeneous group – which will satisfy the basic need.

Learning about concepts like these in classrooms, through case studies and through active class discussions has been really enlightening for us. Our Marketing faculty, Prof A.N. Bhattacharya is an extraordinary professor and a storyteller marketeer. He draws inspiration from his long stint in the FMCG industry as well in academia, associated with many brands like AMUL, Dhara, and Vadilal and makes his sessions in class that much more practical and exciting.

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