For example, Dry Cleaning industry which seems to be excelling, but still has diversified into Laundromats with a steady growth. Similarly when looking at Hollywood, it seems to be declining, in fact it has grown much bigger with D IMAX movies and theaters. In the past, movies would not include animation, but now movies come in animated fashion as well. Another example can be taken with motorcycle industry. It seems to be in decline with fewer sales; on the other hand electric motorcycles have grown tremendously. This signifies industries change with the trend.
The video rental Industry Is an excellent example of growth and diversification. Blockbuster has witnessed growth when video rental used was In demand, but with online services Nettling has taken over the Industry. This does not mean video rental industry has declined, but actually it has grown with Nettling and the method of delivery has changed. Innovation and improvements in products only contribute toward the growth of the industry as suggested by Theodore Levity. By agreeing partially with this as new innovations leads to new industry itself.
Don’t waste your time!
Order your assignment!
Example of this is Peapod, who are in the food delivery business. Initially it was an innovation to the grocery stores to extend their services to their customers. Eventually this innovation leads to the creation of the food delivery industry. Theodore Levity suggests that Industries Like OLL and petroleum will be In demand and will continue to grow because of population pressure. That Is not true, when OLL used for heating homes natural gas has taken Its place and substituted OLL for some part.
Levity has also suggested that management has created innovation and improvements in the refinery process and pipeline operations and this has contributed to the success of these industries. I do not agree with this approach and believe these industries will grow itself as per demand from different parts of the oral (Levity, 1975). The growth of a company is determined by not what the company is offering, but what customers want. A customer – oriented company will grow in size and profit. The principle of marketing that Theodore Levity presented has changed over the past 60 years.
Example of this is the railroad industry; they did not anticipate the changes in the transport Industry. With the advent of new technology, Industries have changed trends. Growth Is determined by many factors Including innovation, Improvements, customer orientation and R&D. Management also plays an Important role in leading companies to success and growth. Deed and wants, but companies wish to sell their products and services in the market. Marketing myopia views customers as Just ordinary consumers regardless of their personal entity as being a community member.
There are stakeholders who utilize common understanding about companies social and environment impacts. These stakeholders have very much changed the business context and business decision-making in few years (Harrison & Wicks, 2007). They clearly deserve attention even though they are not part of market analysis. The focused attention is shifted from consumers to stakeholders. It might lead to complex and unpredictable environment. There are many other examples of the new marketing myopia where many companies are disregarding their social responsibility towards employees and community.
For example, Nikkei was failed in the sass to respond to unsafe work conditions and employees abuses in the factories of its suppliers which lead to protests all over the world. Nine’s contractors cheated and mistreated women employees in China and Indonesia (1998). Another example of Western retailers garment factories are posing at greater threat for unsafe working conditions in Bangladesh. There were 159 people died in one of building in garment factories. Along with this, there were unsafe environment and child labor were major issues in these western garment factories in Bangladesh.