Question

Wht is marketing myopia?wht are the short and long term implications for business in this situation?

Answer 1

Theodore Levitt coined the term "marketing myopia".

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

Marketing myopia: Myopia means nearsightedness. The situation where a company has nearsightedness and inward looking in a approach to marketing  the company needs is called as marketing myopia.

It defines the company in terms of the need and wants of the customers and so it results in the failure to adjust to the changes in the markets.

Implications:

• Unable to sustain growth
• Lack of competition
• No quality improvement
• Lack of marketing