Marketing Myopia

Journal Critique: Marketing improvidence The paper Marketing Myopia was written in 1960 by Theodore Levitt, a professor of selling at Harvard Business School. In his article, he explores and details issues he saw with big business short-sightedness (i.e. myopia) and failure to study a broader consideration of external factors in their corporate strategies, including the nonperformance to evaluate the needs and essentials of the consumer. This inattention has resulted and is resulting in the collapse of long-established firms. Levitt uses examples from galore(postnominal) industries including the railroad, petroleum, automobile, movie, and electronics marketplaces, along with other references to grocery chains, dry cleaners, and buggy wrap up manufacturers to develop his case that firms have placed too lots importance on their product and selling it, as irrelevant to adapting a broader, more flexible classification of their purpose and offerings.

Levitt presented quatern main conditions which could lead to this failure: (1) The belief that growth is insure by an expanding and more affluent population; (2) The belief that there is no competitive substitute for the industrys major product; (3) Too much faith in big bucks production and in the advantages of rapidly declining unit costs as output rises; (4) Preoccupation with a product that lends itself to carefully controlled scientific experimentation, improvement, and manufacturing cost reduction. Levitt argued that firms strategies should evolve with the consumer, paying more attention to in truth listening to and marketing to consumers instead of blindly selling to them, and execute the foresight to see what new innovative services or products may be lurking on the horizon that could be interpreted advantage of to benefit both the individual firm and the market as a whole. This article make a total of valid points about big industry, keeping in intelligence that it was written over 50 years ago. Even today, a number of large firms appear to have a myopic... If you want to get a full essay, order it on our website: Orderessay

Order your essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.