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.

1. Article Presentation
By Group 2 -:
•Apoorv Parmar
•Shreya Mahajan
•Kushaang Deswal
•Chirag Gaba
•Siddharth Sharma
•Pulkit Kapoor

2. MARKETING
MYOPIA
PRODUCT SHOULD
BE A CONSEQUENCE
OF MARKETING AND
NOT OPPOSITE
FOCUS NOT ON
CUSTOMER NEEDS
AND ON SELLING
PRODUCTS
SHORTSIGHTED
APPROACH TO
MARKETING
GROWTH
INDUSTRIES CAME
DOWN DUE TO
ADAMANCY TO
CHANGE

3. Shadow of obsolescence
It is assumed that an industry qualifies as growth industry by
superior and unbeatable product but still many industries failed
or replaced by a substitute.
Examples-
DRY CLEANING
ELECTRONICS INDUSTRY

4. Population Myth
Asking for Trouble
Idea of Indispensability
Uncertain Future
• The belief that profits are assured by an ever expanding and
more affluent population is dear to heart of every industry.
• If consumers are multiplying and also buying more of your
products or service, You can face the future with considerably
more comfort than if the market is shrinking.

5. Asking for Trouble
• The efficiency of getting and making its product, not really on improving
the generic product or its marketing.
• Major innovation in automobile fuel market are originated by small new
oil companies that are not primarily preoccupied with production or
refining.
• Thus, the oil industry is asking for trouble from outsiders.
Idea of Indispensability
• The petroleum industry is pretty much persuaded that there is no
competitive substitute for its major product, gasoline – or if there is, that
it will continue to be a derivative of crude oil, such as diesel fuel or
kerosene jet fuel

6. Uncertain Future
• There is no guarantee against product obsolescence.
• If a company’s own research does not make it obsolete, another’s will.
• Unless the company is lucky as oil has been till now, it can easily go down
in a sea of red figures - just as the railroads, big movie companies and
many more industries have.
• The promise of lightning the world’s lamps gave rise to an extravagant
promise of growth.
In the days of kerosene lamp, the oil companies competed with each other
trying to improve the illuminating characteristics of kerosene.
Then suddenly the impossible happened...

7. Edison Invented Bulb

9. Production Pressures
Why do companies MASS PRODUCE ?
> More Output
> Decline in Unit Costs.
> Profit prospects look spectacular.
Cons of Mass production
> All efforts are focused on production.
> Focus on SELLING rather than MARKETING .
> Marketing gets ignored.

10. Mass production in automobile industry
• In this industry mass production is most famous , most honored .
• The industry has hitched its fortune to relentless requirements of the annual
model change, a policy that makes CUSTOMER ORIENTATION an especially
urgent necessity.
• Automobile companies spend millions of dollars on consumer research .
LAG IN DETROIT
• The fact that the new compact cars are selling so well in their first year indicates
that Detroit's vast searches have failed for a long time to reveal customer needs.
• Detroit was not persuaded that he wanted anything different from what he had
been getting until it lost millions of customers to other small car manufacturers.

11. Product Provincialism
Product provincialism happens when a company defines itself
based on the product and not on the industry and when this happens no
amount of product improvement can starve off its death sentence.
e.g
BUGGY WHIP INDUSTRY -
If they would have defined themselves as being in the transportation
industry rather than the buggy whip business , they may have survived.
It would have done what survival entails , that is , CHANGING .
There are plenty of such examples like the oil industry etc.

12. JO DIKHTA HAI WAHI BIKTA HAI

13. What is Research and Development?
OF PRODUCTS AND
PROCEDURES
INNOVATION INTRODUCTION DEVELOPMENTIMPROVEMENT

14. Should R & D be done in excess while keeping essential
Marketing at stake?
BUT

15. Probable reasons for doing excessive R & D……
1. Introversion
2. It is hard to tackle clients as they can be :
Unpredictable
Varied
Fickle
Stubborn
3. More focus on job roles which can be controlled
4. Comfortable and Familiar working environment adding on to Ease of Job
--Especially Software Engineers …….
Work from home is a blessing

16. Effects of ignoring Marketing and preferring excessive Research
1. Focus drifts from customers to product.
2. Companies live dangerously under an illusion that their top
notch products will succeed regardless of no marketing.
3. They prioritize what they wish to and can sell regardless of what
customers actually need.
4. Thus, slowly leading to a Creative Destruction.
In spite of 70% market share as a search engine globally, Google spends extensively
on its marketing… a whooping amount of nearly $10 billion annually.
Leading by example

17. THANK YOU