Marketing Myopia
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The article discusses the concept of "marketing myopia" where companies focus too narrowly on their existing products instead of more broadly defining their business and customers' needs. It argues that companies risk becoming obsolete if they do not reexamine their vision and expand their view of the market opportunities. The key is for managers to look beyond their current activities and consider new ways to serve evolving customer demands. Several Indian companies are analyzed that declined by failing to adapt and broaden their focus in line with changes in the industry and consumer preferences.
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Marketing Myopia
Marketing Myopia by Theodore Levitt argues that companies focus too much on their products instead of understanding customers' needs. He asserts there are no growth industries, only growth opportunities. When companies define themselves by their products rather than by the customer needs they meet, they risk becoming obsolete. Levitt provides examples of once dominant industries like railroads and movies that declined due to a failure to adapt to changing customer demands. He encourages companies to take a broader view of their industry and role in satisfying customer needs to sustain long term growth.
Marketing myopia
Group 2 presented on the topic of marketing myopia and how focusing too much on products instead of customer needs can lead companies astray. They discussed how industries like dry cleaning and electronics failed because they did not change with the times. They also talked about how assumptions of continued population growth and product indispensability can be misguided. Mass production can prioritize output over marketing. Excessive focus on research and development without sufficient attention to marketing can cause companies to lose touch with customers.
Marketing myopia
Written in 1960, the article revolutionized the thought processes of business managers who were narrowly focused on the products they sold—they were short-sighted or myopic, as Levitt calls it.
It is important to define an industry by asking a simple question—“what business are we in?
To ensure growth, companies must define their business properly based on customer needs and desires. Businesses are actually customer satisfying institutions/entities.
my·o·pi·a
lack of imagination, foresight, or intellectual insight
Chick shampoo case study
1. Chik shampoo was launched in 1983 by CavinKare as a low-cost shampoo sold in sachets targeting rural and lower income consumers.
2. Chik differentiated itself through affordable sachet packaging starting at 10ml for 50 paise, innovative promotions through film stars and demonstrations, and unique fragrances.
3. Through extensive rural marketing efforts like demonstrations and availability in small villages, Chik became the top selling shampoo brand in South India and later nationwide, capturing over 65% of the rural shampoo market.
Marketing myopia final
Marketing myopia occurs when companies focus too much on their own products and needs rather than defining themselves and their products based on customer needs and wants. Symptoms include dismissive comments about competitors and an assumption that customers will automatically buy whatever the company sells. Kodak is given as an example of a company that failed because of marketing myopia - it did not see Sony as a potential competitor in the camera market. To avoid marketing myopia, companies must understand the difference between seeing their product as what satisfies customers versus just a commodity, and they must evolve to accommodate changing consumer needs.
Marketing Myopia
This document summarizes the concept of "marketing myopia", which refers to a short-sighted focus on a company's internal needs rather than defining itself based on customer needs and wants. Marketing myopia was first discussed by Theodore Levitt and can be caused by a narrow view of the marketing situation and excessive focus on products over customers. Industries like dry cleaning, Hollywood, railroads, and grocery stores have been affected by marketing myopia. To prevent it, companies should focus on customer orientation, marketing, looking for future opportunities, and retaining existing customers. The conclusion is that focusing on customer satisfaction and needs requires companies to renovate their mission, vision, and goals.
Marketing Strategy- Maggi
A brand is not developed overnight, it struggles through various factors and rises by implementing various strategies. Hers is success story of one such brand Maggi and the strategies it devices.
Lakme marketing strategy
1) Lakme is an Indian cosmetics brand owned by Hindustan Unilever that was started in 1952 by JRD Tata to manufacture beauty products domestically and reduce foreign exchange spending.
2) It was named after the French opera Lakme, which refers to the Hindu goddess Lakshmi who represents wealth and beauty.
3) Over time, Lakme has expanded its product line and opened beauty salons across India to provide consumers with a comprehensive beauty experience.
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Marketing Myopia
Marketing Myopia by Theodore Levitt argues that companies focus too much on their products instead of understanding customers' needs. He asserts there are no growth industries, only growth opportunities. When companies define themselves by their products rather than by the customer needs they meet, they risk becoming obsolete. Levitt provides examples of once dominant industries like railroads and movies that declined due to a failure to adapt to changing customer demands. He encourages companies to take a broader view of their industry and role in satisfying customer needs to sustain long term growth.
Marketing myopia
Group 2 presented on the topic of marketing myopia and how focusing too much on products instead of customer needs can lead companies astray. They discussed how industries like dry cleaning and electronics failed because they did not change with the times. They also talked about how assumptions of continued population growth and product indispensability can be misguided. Mass production can prioritize output over marketing. Excessive focus on research and development without sufficient attention to marketing can cause companies to lose touch with customers.
Marketing myopia
Written in 1960, the article revolutionized the thought processes of business managers who were narrowly focused on the products they sold—they were short-sighted or myopic, as Levitt calls it.
It is important to define an industry by asking a simple question—“what business are we in?
To ensure growth, companies must define their business properly based on customer needs and desires. Businesses are actually customer satisfying institutions/entities.
my·o·pi·a
lack of imagination, foresight, or intellectual insight
Chick shampoo case study
1. Chik shampoo was launched in 1983 by CavinKare as a low-cost shampoo sold in sachets targeting rural and lower income consumers.
2. Chik differentiated itself through affordable sachet packaging starting at 10ml for 50 paise, innovative promotions through film stars and demonstrations, and unique fragrances.
3. Through extensive rural marketing efforts like demonstrations and availability in small villages, Chik became the top selling shampoo brand in South India and later nationwide, capturing over 65% of the rural shampoo market.
Marketing myopia final
Marketing myopia occurs when companies focus too much on their own products and needs rather than defining themselves and their products based on customer needs and wants. Symptoms include dismissive comments about competitors and an assumption that customers will automatically buy whatever the company sells. Kodak is given as an example of a company that failed because of marketing myopia - it did not see Sony as a potential competitor in the camera market. To avoid marketing myopia, companies must understand the difference between seeing their product as what satisfies customers versus just a commodity, and they must evolve to accommodate changing consumer needs.
Marketing Myopia
This document summarizes the concept of "marketing myopia", which refers to a short-sighted focus on a company's internal needs rather than defining itself based on customer needs and wants. Marketing myopia was first discussed by Theodore Levitt and can be caused by a narrow view of the marketing situation and excessive focus on products over customers. Industries like dry cleaning, Hollywood, railroads, and grocery stores have been affected by marketing myopia. To prevent it, companies should focus on customer orientation, marketing, looking for future opportunities, and retaining existing customers. The conclusion is that focusing on customer satisfaction and needs requires companies to renovate their mission, vision, and goals.
Marketing Strategy- Maggi
A brand is not developed overnight, it struggles through various factors and rises by implementing various strategies. Hers is success story of one such brand Maggi and the strategies it devices.
Lakme marketing strategy
1) Lakme is an Indian cosmetics brand owned by Hindustan Unilever that was started in 1952 by JRD Tata to manufacture beauty products domestically and reduce foreign exchange spending.
2) It was named after the French opera Lakme, which refers to the Hindu goddess Lakshmi who represents wealth and beauty.
3) Over time, Lakme has expanded its product line and opened beauty salons across India to provide consumers with a comprehensive beauty experience.
Unsuccessful products
The document discusses several products that failed in the market due to issues with their marketing strategies. Some key reasons for failure included targeting the wrong customer segment, having an unnecessary or unclear value proposition, being overpriced, facing quality issues, and not differentiating effectively from competitors. Specific examples that failed due to these issues include Vanilla Coke, Levis Type 1 jeans, Crystal Pepsi, the Apple Newton, the Commodore Amiga 1000 computer, the Godrej Doodh Ganga milk brand, the Maruti Suzuki Sierra SUV, and the Honda Street motorcycle.
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Marketing Myopia- Group.pptx
1) Management fails when it does not change and adapt to new environments, instead focusing too narrowly on selling existing products. Industries decline not due to saturated markets but due to "management failure".
2) The railroad industry declined not because transportation needs decreased but because those needs were met by others like cars, trucks and planes that the railroads did not adapt to provide.
3) Similarly, Hollywood initially resisted television as a threat rather than an opportunity to expand its entertainment business, allowing TV to become a larger market.
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- It has 5 manufacturing facilities in India that use state-of-the-art equipment to produce consistent, high quality products.
- Blue Star's vision includes delivering excellent customer experience, profitable growth, and being a responsible corporate citizen.
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The key issues faced by Maggi in 2015 were:
1) Samples of Maggi noodles in India showed excess levels of lead and MSG above permissible limits.
2) Maggi was banned in India and Nestle had to recall stock worth 1.2 billion, costing an additional 1.1 billion.
3) This controversy caused huge losses for Nestle - a 20% reduction in revenue and 15% drop in stock price resulting in 100 billion loss in market capitalization.
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- L'Oreal introduced their Plenitude skincare line in 1982 in France targeting modern women. It aimed to provide technologically advanced, high-end products at an accessible price point.
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- Acceptor/rejector studies in the US found that the L'Oreal brand attracted trial but Plenitude was unknown. Younger consumers found the formulas too heavy. The large product line was seen as overwhelming versus traditional brands like Oil of Olay.
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The document discusses several products that failed in the market due to issues with their marketing strategies. Some key reasons for failure included targeting the wrong customer segment, having an unnecessary or unclear value proposition, being overpriced, facing quality issues, and not differentiating effectively from competitors. Specific examples that failed due to these issues include Vanilla Coke, Levis Type 1 jeans, Crystal Pepsi, the Apple Newton, the Commodore Amiga 1000 computer, the Godrej Doodh Ganga milk brand, the Maruti Suzuki Sierra SUV, and the Honda Street motorcycle.
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Marketing Myopia- Group.pptx
1) Management fails when it does not change and adapt to new environments, instead focusing too narrowly on selling existing products. Industries decline not due to saturated markets but due to "management failure".
2) The railroad industry declined not because transportation needs decreased but because those needs were met by others like cars, trucks and planes that the railroads did not adapt to provide.
3) Similarly, Hollywood initially resisted television as a threat rather than an opportunity to expand its entertainment business, allowing TV to become a larger market.
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The key issues faced by Maggi in 2015 were:
1) Samples of Maggi noodles in India showed excess levels of lead and MSG above permissible limits.
2) Maggi was banned in India and Nestle had to recall stock worth 1.2 billion, costing an additional 1.1 billion.
3) This controversy caused huge losses for Nestle - a 20% reduction in revenue and 15% drop in stock price resulting in 100 billion loss in market capitalization.
L'Oreal Repositioning
- L'Oreal introduced their Plenitude skincare line in 1982 in France targeting modern women. It aimed to provide technologically advanced, high-end products at an accessible price point.
- When introduced in the US, Plenitude launched with 14 SKUs across 3 categories to recreate a department store experience in mass retail channels. However, after 9 years sales plateaued despite not being profitable.
- Acceptor/rejector studies in the US found that the L'Oreal brand attracted trial but Plenitude was unknown. Younger consumers found the formulas too heavy. The large product line was seen as overwhelming versus traditional brands like Oil of Olay.
4 P's for Medimix Soap
Medimix is the second largest Ayurvedic soap brand in India, introduced in 1969. It contains extracts from 18 potent herbs and was initially positioned as a medicinal soap prescribed by doctors for skin diseases. The brand name combines "Medicine" and "Mix" to reference its medicinal properties. Medimix is unique for revealing all ingredient names on its packaging. It targets youth, children, older adults, and women of all ages, particularly those interested in herbal skin remedies. The soap is sold through medical shops, supermarkets, e-tailers and Ayurvedic clinics, with pricing varying by soap size. Promotions include online, print, television, and direct mail advertising.
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Campa Cola is a soft drink brand founded in India in 1970 with a market share of 12% and annual growth of 6-7%. It was started in Bhubaneswar, Odisha in 2011 with 100 employees across a 4 acre facility producing Campa Cola refreshers, orange, lemon, jeera masala soda, and Campa soda for distribution across Odisha and nearby states. The company uses a centralized organizational structure and semi-automatic production line to source raw materials from across India and distribute products through regional distribution centers.
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This document discusses a labor dispute that occurred at Maruti Suzuki's car manufacturing plant in Manesar, India in 2012. Over 2,000 workers stopped work to protest issues like low wages, incentive cuts, and demanding a new independent union. On July 18th, violence broke out between workers and management, resulting in injuries to 96 staff and the death of a human resources manager. The strike caused major losses for the company. Both sides blamed each other, with workers claiming poor treatment and management accusing workers of sabotage. The company terminated 49 workers, while the union demands their reinstatement. Suggested solutions include allowing an independent union with management-approved leaders and improving workplace conditions.
maggi noodles
This marketing plan analyzes Maggi Noodles' current marketing mix in India. It studies the popularity of two new healthy variants - Vegetable Atta and Dal Atta Noodles. The plan makes suggestions for introducing a new "Cup O Maggi" brand in the cup noodles segment. Various tools like surveys and secondary research were used. Nestle India leads the instant noodles market in India with Maggi having a 79.3% market share. The plan evaluates introducing improvements to the Dal Atta variant and a new Cup O Maggi product along with packaging changes to further market share.
Maruti IR case
1) The document summarizes the industrial relations issues between Maruti Suzuki and its workers at the Manesar plant in Haryana, India from 1997-2012.
2) In July 2012, violence broke out at the plant resulting in one death and injuries to over 100 people after months of tensions between workers and management over issues like wages, temporary workers, and union recognition.
3) Both workers and management blamed each other for the violence and disruptions, with workers citing issues like low pay, harsh working conditions, and abuse, while management accused workers of sabotage and intentionally reducing quality and output.
Dove-STP:
Dove is a personal care brand owned by Unilever that produces beauty bars. Dove was first introduced in 1955 in the Netherlands and brought to the US in 1957. It touted containing moisturizers which helped it thrive in the 1960s as a niche skin care product. In the 1970s, an advertising campaign publicized that Dove dried and irritated skin less than ordinary soap, helping it gain market share. Dove targets women of all ages, shapes and sizes, especially working women, and positions itself as helping women feel beautiful as they are through campaigns promoting positive self-esteem. Dove's main competitors in the moisturizing beauty bar segment are Olay, Vivel, and Himalaya so
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Project report on brand representation
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Mahindra started as a steel manufacturing company in 1945 and later expanded into vehicle manufacturing, becoming a leading manufacturer of SUVs, light commercial vehicles, tractors, and more in India. It is now a $19 billion organization with over 150 companies globally. Mahindra focuses on innovation, customer satisfaction, and corporate social responsibility through initiatives like its Mahindra Foundation which aims to help underprivileged communities. It has received several awards for its governance, social impact, and environmental sustainability efforts.
Mahindra final new (autosaved)
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Marketing Management Product.pptx
Product Marketing Mix, Levels of Product, Types of Product, Product Mix, Product Line, Product Width, Product Life Cycle, Strategies in PLC, Product Diffusion, Brand, Brnad Equity, Repositioning, Branding, Packaging, LAbeling, New Product Development, Product Life Cycle Management
Report
1. The document provides an organizational study of Big Bazaar, a large retail chain in India, focusing on its store in Madurai.
2. It outlines the objectives and scope of the study, which is to understand Big Bazaar's retail operations and functions, specifically HR.
3. Big Bazaar is a subsidiary of Future Group and operates over 100 stores across India, providing a wide range of products at low prices based on the Wall-Mart business model.
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The Marketing concepts
The document discusses the marketing concept orientation. It explains that the marketing concept focuses on determining customer needs through market research and then delivering products and services to satisfy those needs. In contrast to other concepts like production and selling, the marketing concept prioritizes understanding customer wants above all else. The document uses Tata Nano as a case study of successfully applying the marketing concept. It describes how Tata conducted research to design an affordable, safe car that met the needs of Indian families before launching Nano.
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The brand asian paints has evolved with time. Starting as a paint maker, the brand has managed to get closer to consumers identifying need gaps and feeling it up with its product offerings.
Marketing
Godrej, HUL, Marico and Tata sharpened their competitive edge through product innovation, aggressive marketing campaigns, and expanding rural distribution networks. Godrej launched fairness soap Fairglow and strengthened brands like Cinthol through campaigns. HUL addressed consumer needs with innovations like Pepsodent's germ-fighting toothpaste and expanded rural reach through Project Shakti. Marico positioned Saffola oils for health benefits and focused on niche segments. Tata Steel implemented initiatives to improve customer service and reliability across its steel business.
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Marketing Management - Brand Building (eg.of Big Bazaar, WestSide, Globus)
Marketing Management - Brand Building (eg.of Big Bazaar, WestSide, Globus)
Adapting Marketing to Changing Scenarios- Indian context
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Marketing Myopia
- 2. Team Members • SHRADHA BHAT C-10 • KUNAL MEHTA P-40 • PIYUSH WHANMANE P-59 • AMOL MESHRAM P-42 • GIRISH TOLANI P-54
- 3. Learning's from Article • The Paper marked the beginning of the modern marketing movement • Company’s had narrow understanding of what business they are in • It exhorted CEOs to re-examine their corporate vision; and redefine their markets • Focus on long-term profit objectives
- 4. Learning's from Article • Grab the missing opportunities which were plain to see once they adopted the wider view • There is a greater scope of opportunities as the industry changes • It trains managers to look beyond their current business activities and think "outside the box".
- 5. Learning's from Article Sustained growth depends on how broadly you define your business—and how carefully you gauge your customers’ needs. What business are you really in? Narrowing the thoughts They viewed themselves as providing a product instead of serving customers. Putting themselves at risk of obsolescence. Meeting customers’ needs rather than selling products.
- 6. The Idea in Practice We put our businesses at risk of obsolescence when we accept any of the following myths: Myth 1: An ever-expanding and more affluent population will ensure our growth Myth 2: There is no competitive substitute for our industry’s major product. Myth 3: We can protect ourselves through mass production. Myth 4: Technical research and development will ensure our growth
- 7. Maruti Gypsy • Gypsy was one of India's first sports utility vehicles. • The brand had the tagline of " There is a Gypsy in Everyone". • Gypsy did not change itself in tune with the changing industry requirements. • The company enhanced the power from 975cc to 1300 cc only after 11 years.
- 8. LML Vespa • LML Vespa was with the collaboration of Bajaj, LML & Piaggio. • Two wheeler industry was redefined from scooter to motorbike • When scooters was considered a work- machine, it was Vespa which redefined the market. • LML was not able to upgrade their scooter.
- 9. Ambassador • Can be called as the first Indian car. • 1958 to 1980's Ambassador ruled the Indian market • HM never bothered to rationalize the price of the brand. • Branding and product development.
- 10. HMT Watches • Market share. • Neglected its strength . • Advertisement • Retailer Stores
- 11. Aarey Energee Drink • Industry- Flavoured milk • Was a leader initially, Now Amul Kool is the market leader with 90% share • Concentrated to Mumbai market • All competitor products available in Tetrapacks • Government owned organization
- 12. Doordarshan TV Network • Only option available to Indian Viewers till late ‘80s • Hugely successful programs like RAMAYANA, MAHABHARATA, Chhaya-geet, Malgudi Days etc. • Did not catch up with the latest technology, trends & changing consumer tastes • Tough competition from new satellite channels