Marketing Myopia

Marketing myopia is a term used in marketing as well as the title of an important marketing paper written by Theodore Levitt.

Marketing Myopia is a term that refers to the short sightedness of a marketer. It is basically a strategy where in the marketer wants to sell the product and services, without much focussing on the customer demans.

Once executive of Pepsi was asked regarding the major competitors and the reply was that the water is their major competitors and that is what is known as the market focus. Itw ould have been callled Marketing Myopia if the answer would be that Coca cola is the majo competitor.

Marketers who value the long term objective of the organization and some time sacrificing the short term objectives can rise above the myopia. People who focus on the future predictions, trend analysis and customer life time value will be able to successfully erase the marketing myopia.

Let us take an example of Frankfinn, India’s No.1 Air hostess training institute. Now with a recession going and the airline industry hit very hard. They are changing their focus and trying to portray themselves as the India’s renowned Hospitality trainer. Had they considered themselves the part of the bigger picture, they would have not fallen into the trap of this business cycle.

On the similar lines, Harrison Locks, the market leader in the India is spending huge amount of money in communicating to the customers that they have entered into new domain and that is the door locks. The communication that is being aired on radio and television goes something like this where in an executive tries to convince an apartment owner to buy Harrison door locks. Owner asks that Harrison sells only Locks so the reply is that now company has introduced new range of products. In fact they are doing same mistake once again. This process would be repeated as in when they enter in to new domain. This is a perfect example of Marketing myopia. If they call themselves as India’s best Security solutions provider, the domain in which the company could play would be very wider be it locks, security doors, handles, doors, security alarms, digital alarms, and even to large extent security guards service.

Well new modern companies have risen above this myopia and trying to capture the whole industry like Educomp, India’s largest education company. Similarly there are many examples where in companies facing with marketing myopia and others rising above it.