Marketing Myopia
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The document discusses the concept of marketing myopia and provides examples from the Indian market. Marketing myopia refers to a narrow-minded focus on products instead of customer needs. The examples given include Tata Sierra, Kelvinator, Harrison Locks, LML Vespa, and Carona brands that failed due to marketing myopia by focusing on their products rather than understanding changing customer needs and market dynamics. The conclusion notes that while mass production can be beneficial, marketing myopia leads firms to focus on their own needs rather than adjusting to customers, often resulting in failure.
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It is important to define an industry by asking a simple question—“what business are we in?
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my·o·pi·a
lack of imagination, foresight, or intellectual insight
marketing myopia
The document discusses marketing myopia and focuses on the automobile industry in India. It describes how Suzuki Motor Corporation ended its joint venture with TVS before launching the Fiero motorcycle. This was a failure as the Fiero did not boost sales as expected. The document also analyzes the causes of marketing myopia in this case, including a shift in consumer preferences away from two-stroke motorcycles.
Marketing myopia
Marketing myopia refers to a short-sighted focus on products instead of customer needs. Theodore Levitt coined the term to describe companies that want to sell existing products without considering changing customer demands. Marketing myopia can be prevented by adopting a marketing concept focused on customer satisfaction rather than just the product. Examples provided in the document show how companies like Kodak and Sony fell victim to marketing myopia by not adapting to new technologies that better served customer needs. The document recommends companies take a solution-centric, customer-centric approach and be aware of potential substitutes to avoid suffering from a narrow focus on their existing products.
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Marketing Myopia
- 2. What????? • First introduced -Theodore Levitt • Narrow minded approach - marketing a product • Also known as marketing short sightedness • Focus from customer to product • Mass production
- 3. Examples from Indian Market Tata Sierra: Kelvinator: • First Passenger car - • Parent Company - Telco(TATA Motors). Electrolux • Brand came too early • Killed - sheer negligence - • Classic case- marketing marketing myopia myopia. • Disaster -Whirlpool • Failed - steep price & acquired in 1996. quality issue. • Came back - Electrolux - • Didn’t appeal - value 1997 proposition of consumer. • Brand killed - 2005
- 4. Examples from Indian Market Harrison Locks: LML VESPA: • Market leader - locks • India - collaboration - Bajaj • Case of marketing Auto myopia • Failed - LML entered motorcycles. • Poor Advertisement • Failed - sweeping changes • Continued - company in twowheeler market. enters new domains. • Example- marketing • India’s - security solutions myopia provider.
- 5. Examples from Indian Market Carona: • Was Heritage brand & second largest footwear company. • Couldn’t withstand competition after 1991 • Was stiff competitor to BATA • Failed when introduced PUMA • Went out due to mismanagement
- 6. CONCLUSION PROS CONS • Mass Production • Focus on firms’ needs and • Product oriented wants • Exhorted CEO’s – • Self centered firms – fail to reexamine their adjust corporate vision
- 7. & Thank You