Definition of Marketing myopia:
A short-sighted and inward looking approach to marketing that focuses on the needs of the company instead of defining the company and its products in terms of the customers needs and wants. It results in the failure to see and adjust to the rapid changes in their markets.
The concept of marketing myopia was discussed in an article (titled Marketing Myopia, in July-August 1960 issue of the Harvard Business Review) by Harvard Business School emeritus professor of marketing, Theodore C. Levitt (1925-2006), who suggests that companies get trapped in this situation because they omit to ask the vital question, What business are we in?.
How to use Marketing myopia in a sentence?
- Our marketing myopia strategy focused on us, which was good because we had been focused on others for too long.
- You may want to try to use a marketing myopia to really hit the consumers hard when a new product is released.
- You should always try to avoid a marketing myopia if possible and think more about the long term plans you have.
Meaning of Marketing myopia & Marketing myopia Definition