Marketing Myopia

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This is my view on Marketing Myopia.

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Marketing Myopia

  1. 1. Marketing myopia <ul><li>By Daniel Adidwa </li></ul>
  2. 2. Marketing myopia “ the name given to the theory that some organizations ignore the fact that to be successful, the wants of customers must be their central consideration.” (http://dictionary.bnet.com/definition/marketing+myopia.html )
  3. 3. Symptoms <ul><li>Comments such as: </li></ul><ul><li>“ They have nothing on us” </li></ul><ul><li>“ That could never happen to us” </li></ul><ul><li>“ We are our own competitors” </li></ul><ul><li>“ Customers love our product or service regardless of what happens” </li></ul>
  4. 4. Successes <ul><li>Coca Cola is a good example of which marketing and management myopia is absent. </li></ul><ul><li>Coca Cola’s diversification into the bottled water market. </li></ul><ul><li>Product: a feel good thirst quencher and commodity : a soft drink . </li></ul>
  5. 5. Failures <ul><li>Kodak film company is a great example in which marketing myopia was present. </li></ul><ul><li>Kodak did not view Sony, an electronics company, as a potential competitor. </li></ul><ul><li>Product: capturing moments and commodity: film </li></ul>
  6. 6. Modern day relevance <ul><li>We live within a society that is: </li></ul><ul><li>Fast paced </li></ul><ul><li>Continuously evolving </li></ul><ul><li>Consumers seek instant gratification </li></ul><ul><li>Competition is rife </li></ul><ul><li>Companies’ either have to EVOLVE and ACCOMMODATE consumer needs OR DIE </li></ul>
  7. 7. Lessons we can learn <ul><li>Companies need to know the difference between a product and commodity. </li></ul><ul><li>Product: “what a customer feels about your business”. ( The E myth Revisited by Michael E. Gerber) </li></ul><ul><li>Commodity: “ A commodity is anything for which there is demand, but which is supplied without qualitative differentiation across a market.” </li></ul><ul><li>( en.wikipedia.org/wiki/Commodity ) </li></ul>
  8. 8. We need unconventional management Conventional management is a symptom of marketing and management myopia because the system in which managers are groomed is indiscriminant of whom it captures and who’s mind it handicaps by restricting their thinking to “tried and tested” thought processes.
  9. 9. In conclusion <ul><li>“ The problems that exist in the world today cannot be solved by the level of thinking that created them”. By Albert Einstein </li></ul>

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