Critique Of Marketing Myopia

Critique of Marketing Myopia Written in 1960, the story Marketing Myopia was written by Theodore Levitt, a prof of marketing at Harvard Business School. It has been republished a number of elongation since then. The publication that this critique is based on is from the Best of HBR series, in the July-August edition of the Harvard Business Review (pages 138-149). In Levitts article, he explores and details issues he saw with big business short-sightedness (i.e. nearsightedness) and failure to adopt a broader consideration of external factors in their corporate strategies, including the neglect to evaluate the needs and wants of the consumer. This in caution has resulted and is resulting in the collapse of long-established devoteds. Levitt uses examples from many industries including the railroad, petroleum, automobile, movie, and electronics markets, along with other references to grocery chains, run dry cleaners, and buggy whip manufacturers to develop his look that firms have put too much importance on their fruit and merchandising it, as opposed to adapting a broader, to a greater extent flexible categorization of their purpose and offerings. Levitt presented four main conditions which could deport to this failure: - 1. The feeling that growth is assured by an expanding and much affluent nation; -2.

The belief that there is no agonistic substitute for the exertions major product; -3. excessively much trustfulness in mass production and in the advantages of rapidly declining building block costs as output rises; -4. Preoccupation with a prod uct that lends itself to carefully controlle! d scientific {activities}. (Levitt, p. 140) Levitt argued that firms strategies should modernize with the consumer, paying more attention to actually listening to and marketing to consumers instead of blindly merchandising to them, and exercise the foresight to correspond what new innovative work or products may be lurking on the horizon that could be taken advantage of to emolument both the individual firm and...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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