What is marketing myopia, and how can it be avoided. Some businesses, like redbox and mcdonald s have managed to avoid marketing myopia and continue to thrive today. Levitts marketing myopia16, kodak s lack of strategic creativity led it to misinterpret the very line of work and type of industry that it was operating in. Marketing myopia is a concept developed by theodore c. Marketing myopia is when a firm goes into decline due to a productfocus as opposed to a customerfocus. Ppt marketing myopia by theodore levitt powerpoint. For example, photo camera producer kodak refused to produce digital cameras, while customers had an increasing desire for them. Some examples of business that have fallen victim to. Marketing itself is the field in which research is conducted into how the market can best be conquered and where customers also remain customers through repeat purchases and related products. Why marketing myopia can be deadly and how to avoid it. Levitts marketing myopia16, kodaks lack of strategic creativity led it to misinterpret the very line of work and type of industry that it was operating in. The moment it all went wrong for kodak the independent. Marketing myopia, by theodore levitt 48 words 6 pages. Marketing myopia as defined by theodore levitt could teach a lot of organizations the importance of clearly defined purposes and customer value.
Jan 18, 2012 as late as 2007, a kodak marketing video felt the need to trumpet that kodak is back and that kodak wasnt going to play grab ass anymore with digital. Marketing myopia, a useful marketing strategy theory toolshero. What is marketing myopia and what does the theory suggest. Marketing myopia suggests that businesses will do better in the end if they concentrate on meeting customers needs rather than on selling products. Given that kodaks core business was selling film, it is not hard to see. A business suffering from marketing myopia lacks vision to succeed. To remain relevant, focus on the true problem you solve. Marketing myopia is used in marketing as well as the title of a marketing paper written by theodore levitt. A business suffering from marketing myopia lacks vision to.
A summary on marketing myopia marketing myopia is a term used in marketing which has been written by theodore levitt. May 06, 2008 in marketing myopia, theodore levitt offers examples of companies that became obsolete because they misunderstood what business they were in and thus what their customers wanted. Myopia should be reminded of the fate of kodak, wang computer, blockbuster, circuit. Oct 15, 20 green marketing myopia green marketing must satisfy two objectives. Alex elwood nikolas foster blake overall shaelee pittenger lorelei wilson what is myopia nearsightednessnot inherited. Marketing myopia an update how theodore levitt changed our. Miopia em marketing wikipedia, a enciclopedia livre. Share theodore levitt quotations about innovation, imagination and creativity. When a company launches a new product, this new product is usually not a success right after. Kodak lost much of its share to sony cameras when digital cameras boomed and kodak didnt plan for it nokia losing its marketing share to android and ios hollywood didnt even tap the television market as it was focused just on movies. As late as 2007, a kodak marketing video felt the need to trumpet that kodak is back and that kodak wasnt going to play grab ass anymore with digital. Marketing myopia what is the concept of marketing myopia. Most companies have fought marketing myopia and have survived by.
The theory states that marketers should look towards the market and modify the company. The author profoundly illustrates the concept of marketing myopia. As the name describes the story, basically this concept talks about short. Immensely successful companies can become myopic and product oriented instead of focusing on consumers needs. Looking at the market from a myopic perspective results in the company ignoring the many. Marketing myopia, first expressed in an article by theodore levitt in. Without investing in either kodak failed by asking the wrong marketing questionfor 40 years, you. It has lost major market share since digital adoption. Sep 15, 2011 but kodak also suffered from marketing myopia. A free powerpoint ppt presentation displayed as a flash slide show on. However, those corporate managers ignoring levitts advice in marketing. What marketing was and has to return to a focus on knowing and serving customer needs if it has any chance of remaining relevant in an experiencedriven, mecentered world. Companies such as sears, xerox, ibm, kodak, and dell were affected by marketing myopia. However, it is apparent from the foregoing discussion of the new marketing myopia that a more appropriate definition of marketing management alone i.
Marketing, marketing management, marketing myopia, strategic management, competitive strategy. Analysis of theodore levitts marketing myopia bartleby. Kodak s tried and tested strategy was evident throughout the business and even in dental products. Kodaks tried and tested strategy was evident throughout the business and even in dental products. For 40 years, you couldnt walk through grand central station in new york without admiring the kodak coloramas. Kodak was so blinded by its success that it completely missed the rise of digital technologies. Download as pptx, pdf, txt or read online from scribd. The blurred effect increases when things are viewed at a. For an organization to be able to cater to the needs of a market, it not only needs to be technically sound but also consumer oriented. Levitts marketing myopia16, kodaks lack of strategic.
Marketing myopia marketing myopia is a term used in marketing as well as the title of a marketing paper written by theodore levitt. Both were highly successful during their reign and brought revolutionary changes among their respective industries. Kodak thought it is in a photograph and camera selling. Jul 04, 2015 a summary on marketing myopia marketing myopia is a term used in marketing which has been written by theodore levitt. In fact, at its peak, kodak captured 90% of the us film market and was one of the worlds. The organizations need to look around them to the changing environmentnot only local changes rather a birdseye view of the world around them. But levitt himself not only ends up endorsing selling. Marketing myopia is the name given to companies that are shortsighted and look no further than their own product. This leads the firm to continually improve a narrowly defined product without inventing new ways to meet customer needs. Eastman kodak files for bankruptcy the new york times. Other which are thought of as seasoned growth industries have stopped growing. Tetapi, selagi kodak sedang mengalami marketing myopia, peluang ini digunakan oleh kompetitor kodak, sony dan canon, untuk mulai produksi dan memasarkan kamera digital secara agresif.
Theodore levitt, marketing myopia, contemporary marketing. A free powerpoint ppt presentation displayed as a flash slide show on id. In strategic management, it provides a foundation for competitor analysis and the analysis of industry structure, conditions of rivalry, and competitive advantage. Sep 29, 2017 marketing myopia is when a firm goes into decline due to a productfocus as opposed to a customerfocus. Marketing myopia essay example topics and well written. Introduction in the changing world of technology, change is the only constant.
Marketing myopia pepsi nike free 30day trial scribd. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. Jan 23, 2012 kodak marketing executives were adept at weaving the brand into the fabric of america for generations. Jun 21, 2019 the marketing myopia theory was proposed by theodore levitt. Marketing myopia theodore levitt every major industry was once a growth industry. Kodak failed by asking the wrong marketing question forbes. We always know when an hbr article hits the big time. Marketing myopia free download as powerpoint presentation.
Kodaks market share as customers switched to their products after launching a. Eastman kodak case study name institutional affiliation. Theodore levitt criticizes john kenneth galbraiths view of advertising as artificial want creation, contending that its selling focus on the product fails to appreciate the marketing focus on the consumer. Kodak had the myopic view that the company was in the film business rather than the storytelling business. The concept has stayed in tact over the last 50plus years. The potential threat of marketing myopia explained with examples. Grow how to avoid myopia and remain relevant even the mightiest companies fail when they lose sight of the business theyre really in.
Engage your students during remote learning with video readalouds. In marketing, it supports the analysis of pricing policies, product design, development and positioning, communications strategy, and channels of distribution. May 19, 2016 grow how to avoid myopia and remain relevant even the mightiest companies fail when they lose sight of the business theyre really in. Kodak is another example which lost its market share because of this very underestimated and often overlooked concept of marketing myopia. The potential threat of marketing myopia explained with. Bila kodak tidak mengalami marketing myopia mereka akan mengerti bahwa untuk tetap menarik pelanggan mereka, mereka harus memproduksi dan menjual kamera digital. Myopia occurs if the cornea is curved too much or the eye is longer than normal. Indeed, the product has to go through different steps before dying. The rationale is covered here, beautifully and succinctly by prof. In essence, marketing myopia occurs when an organization focuses too. One of the biggest companies, in which today, is continually shrinking. Jan 08, 2018 kodak is another example which lost its market share because of this very underestimated and often overlooked concept of marketing myopia.
Marketing myopia an update how theodore levitt changed. Now that you have some basic tools to guard yourself from the thorns of marketing myopia, apply this avoidance tactic in your business. Here is the swot analysis of kodak which is a technology company most known for its polaroid cameras. The organizations need to look around them to the changing environmentnot only local changes rather a. Deighton says that that is because the original article was like a polemic, almost like a religion. He identifies the four widespread myths that what business is your company really in. The title of the article hints what it suggests, a shortsighted approach to marketing. However, those corporate managers ignoring levitts advice in marketing myopia should be reminded of the fate of kodak, wang computer, blockbuster, circuit city, borders and the ailing u. Fall prey to marketing myopia sony digital camera invaded the market which was a roaring success 7. Green marketing myopia green marketing must satisfy two objectives. For decades, the term myopia is being used in human sciences referring to nearsightedness the ability to see near objects clearly but the inability to see the far off objects. He pinpoints the negative consequences if a company develops ideas that are myopic. Dont let marketing myopia disrupt your success and accept changes for the betterment of your organization.
These conditions mean the focus falls in front of the retina at the back of the eye instead of right on the retina and the image formed on the back of the eye is not as sharp as it should be. Pdf marketing myopia by theodore levitt may boutaleb. According to the writer, businesses will do better in the end if they focus their attention on meeting customers needs rather than on selling products. Eastman kodak is a technology company focused on imaging. Some examples of business that have fallen victim to marketing myopia are kodak and blockbuster. Kodak marketing executives were adept at weaving the brand into the fabric of america for generations. Marketing myopia refers to the phenomenon of not being able to see a long term and more sustainable goal for an organisation. Kodak failed by asking the wrong marketing question.
Marketing myopia is when a business concerns itself more with its needs than the needs of its target market its customers. Eventually somebody finds a way to serve customer needs better and the product becomes obsolete. Kodak shares fall by more than 80 per cent, partly because the company struggles to meet pension costs for its employees. Instead of marketing the new technology, the company kept it under wraps for fear of hurting its lucrative film business.
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