Marketing Myopia
Marketing Myopia is the failure to define an organization's purpose in terms of its function from the consumers' point of view. For example, railway companies that define their markets in terms of trains, rather than transportation, fail to recognize the challenge of competition from cars, airlines, and buses. It is therefore necessary to define the needs of the consumer in more general terms rather than product-specific terms. Marketing Myopia is the short sighted look of the managers in wrongly identifying the category and goals of the company, not looking at the whole industry of the product neglecting the fields of opportunities in their area of industry, not listening to the customer's real
Example 1: Encyclopedia Britannica's temporary denial of the effect computers and CD-ROMs would have on its core business. But now the politically correct answer is"We are in business to make customers, keep customers, and maximize customer profitability. More importantly, if the company thinks one level up and is in tune with the changes in its customer's needs, it has a chance to make changes in its production. Example 2: IBM - Thomas Watson, Jr. Do not think bricks but think building materials. " The old-guard IBM making huge profits selling the machines that processed the punch cards simply refused to believe in the benefits of magnetic tape as a medium to store data and in computers to process that data. " By exploiting and developing computer technology as a better, faster, and cheaper way to process data, IBM became one of the largest and most successful companies in the world. , how IBM almost missed out on the computer revolution in the early 1950s. complain about the costs of storing and managing millions of punch cards, realized just in time that IBM's answer to the question should be"We are in the business of data processing. , son of the IBM founder, tells in his book, Father, Son & Co. ) As these examples indicate, a market orientation is much healthier for you and your business in this fast-changing world. (They have had ups and downs since then, but at the end of the day, IBM listens to their customers. Do not think glass bottles, think containers.
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