Question

What is marketing myopia? Discuss in detail how the myopic orientation of Nokia.
Kodak and Xerox lead them to failure. ​

Answer 1

Explanation:

Marketing Myopia is a marketing technique where company is more focussed on its marketing without having much research on grabbing the market for longer period of time by looking into the future needs of their customers.

This model generates short term growth only and it is not a well sustainable model

This can be seen in companies Nokia, Kodak and Xerox who failed to move ahead with the technological changes going on and kept on selling their then products

Answer 2

Marketing myopia is a theory stating the focus of a business on its short term needs.

• It is a theory that businesses concentrate on their requirements and short-term plans for growth. They ignore their customers' needs and expectations and as a result, fail.
• It implies that management is really poor if a business is impacted by marketing myopia. The leadership needs to be strengthened by the organisation.
• Marketing itself is a successful product, but instead of concentrating on selling, the emphasis must be on the product to fulfil the needs of consumers.
• Nokia, Kodak and Xerox failed due to non adaption to new technologies. The once fruitful businesses only focused on already manufactured products and did not innovate.
• Brands that struggle to learn and grow continuously will certainly fail and will one day become obsolete and not important to the industry. The said brands concentrated all the money there, believing that it is in a growing market and overlooking customers' potential needs.