Marketing Mytopia Essay. Business & Marketing Essay

Marketing Myopia Essay


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Marketing is the set of methods and strategies, which focus on the promotion and sale of a product or service, and partly depend on how price, product, promotion, and place are used to meet the marketing goals to a target audience.  The marketing process connects the company’s products or services with the customers, brand, and business. Marketing is both a social and administrative process since there are people who need products or and services, which are exchanged with the community, while administratively there is planning, organizing and implementing strategies and proposals to meet and optimize customer needs. Myopia means short-sightedness and marketing myopia then is the short-sightedness of companies, which mostly concentrated on product characteristics and not the customer needs (Gallo, 2016).  The basis of marketing is identifying customers, recognizing their differential needs and trying to satisfy them while making a profit. Establishing lasting relationships with new and potential customers is necessary to generate brand awareness,   where the markets are better placed to know the customers and remain profitable.  When there is marketing myopia, there is a failure to look into the long-term and achieve sustainability (Gallo, 2016). A loyal customer base helps build a brand, and the company then sells to the target audience, but if the marketers only insist on the benefits of the product without meeting the client’s needs, they are myopic. One of the examples of marketing myopia is where an established market was slow to adopt digitization, yet some customers are increasingly shopping online, yet the retailer ’s management assumed that the growth of online retail would not be a threat to the organization’s business.  Furthermore, digitization has made it easier to compare prices among different retailers. This is further compounded by failing to improve customer service yet it is likely that there are customers who prefer brick and mortar outlets, but shop there less often because of the quality customer service (Brennan, Previte & Fry, 2016). Being customer-centric remains an effective strategy to deal with marketing myopia,  and knowledge of customer needs, tastes and preferences, then inform marketers on the best promotion strategies to reach a  large customer base.  Creating customer content about products or services helps create awareness, communicate, and engage with the customers about their needs. Theodore Levitt emphasized the importance of ...