Question

Question:
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1. Why do you keep on buying the same kind of consumer good over and over? Please explain and relate it with your personal understanding of what marketing is.
2. What is marketing myopia? Why is it bad?

Answer 1

Answer:

A business is said to suffer from a marketing myopia if a company tends to view the marketing through the standpoint of selling a particular product instead of fulfilling the demands and the needs of the consumers. This word was first used in the year 1960 under a paper written by Theordore levitt himself.

Answer 2

1. Consumer good, in economics, any tangible commodity produced and subsequently purchased to satisfy the current wants and perceived needs of the buyer. Consumer goods are divided into three categories: durable goods, nondurable goods, and services...

2.Marketing Myopia is deals with the shortsighted nature of many companies who start strong but end up failing at the end. These companies seem to concentrate so much on immediate short-term gains that they lose sight of making profits and benefits in the long run...

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