Marketing Myopia Summary Assignment

Marketing Myopia Summary Assignment Words: 491

Review in the summer to 1960. According to Levity (1 960), all industries are growth industries and the failure of industries is not because of marketing saturation, but because to management. Levity uses the oil industry, automobile industry, transportation industry, and electronics industry to support that notion. In addition, Levity details how population has no effect on business success, Lastly, Levity summaries what is necessary to avoid the marketing myopia syndrome from an overview.

Levity opens his work by point out that failure is at the top. In a more specific espouse, failure of the organization rest on the top executives who are responsible for broad aims and policies (Levity, 1960). To support his idea, Levity utilized the railroad and Hollywood movie companies as examples. Levity explains the railroad did not fail because passenger and freight transportation declined, but because the railroad failed to supply the customers’ need (Levity, 1960).

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Levity continues With Hollywood explaining that they did not fail because TV shows; they failed because management classified them as the “movie” business instead of the “entertainment” business (Levity, 1960). Levity continues to support his notion by indicating what saved Hollywood. Levity explains, it was not a resurgence of customers to the movie industry, but in fact was a surge of young new writers. Levity continues the explanation of Marketing Myopia by ruling out the population myth, According to Levity (1 960), the idea that profits are assured by and expanding and more affluent population is dear to every industry.

However; Levity continues by indicating that this “myth” is undergoing a fundamental yet typical change (Levity, 1360). The population myth attempts to explain that if rage quantities of people need the product then product development to replace the current item is not necessary. According to Levity (1960), the petroleum industry efforts have focused on improving the efficiency of getting and making its product, not really on improving the generic product or its marketing.

Therefore, the petroleum industry owes its continued success to other product developments. In order to avoid “marketing myopia” companies must make four Steps. TO begin they must adapt to the requirements of the market, and the faster the better _ Second, the company must employ a vigorous leader Whose vision and rive set the pace for the company. Third, the entire organization must be customer creating and customer satisfying organizations. Lastly, the company must think of itself as buying customers.

Contemporary marketing focuses on the needs of the buyer versus the seller. Levity’s work with Marketing Myopia relates directly to that point. Businesses are no longer able to sit back and enjoy continued market growth. They must focus on the buyers needs and at the same time take necessary steps to make its own products obsolete. Furthermore, business must focus on what industry they lace their product, as with the railroad being in the “railroad” business rather than the “transportation” business.

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Marketing Myopia Summary Assignment. (2019, Sep 13). Retrieved September 15, 2019, from https://anyassignment.com/art/marketing-myopia-summary-assignment-34746/