MARKETING

MYOPIA
 An
introduction
 Conceptualized by Theodore
Levitt.


 Short sighted approach.



 Defines the firm and its

products instead of
customer’s needs and wants
Shadow of obsolence
Every industry was once a growth
industry.

But all such “growth industries” are
under a constant shadow of obsolence.

The industry does not anticipate that it
might become obsolete.
 Causes
Narrow minded approach to marketing
situations where only short ranged goals
are considered.

Product orientation and not customer
orientation.

“Selling” focuses on the needs of sellers,
whereas
“marketing” focuses on the needs of the

buyers.


Opting for industry competition and not form

competition.
IDEA OF
INDISPENSABILITY

What is indispensability???

Companies suffer from superiority
complex- “Titanic Syndrome”.

Ignores new and upcoming substitutes.

Eg: Bajaj Chetak

 FACTORS
Misconception that they have no
substitutes.

Their products serve as the market leader
for a longer period of time.



Future uncertainties are ignored.

E.g.: Petroleum Industry.

 SOLUTIONS
Paying adequate attention to the
competition given by substitutes.





Use customer retention strategies to
strengthen relations with customers.
 POPULATION MYTH
 The belief that growth is assumed by
an expanding and more affluent
population.


 Such beliefs invite trouble.



 EG: HMT Watches

SOLUTIONS
 Survival of the fittest through:-


 Quality improvement.


 Looking beyond competition.



 Best practice and next practice.

PRODUCTION PRESSURE
MASS PRODUCTION INDUSTRIES SUFFER
FROM MARKETING MYOPIA
 CONSEQUENCES:

 RISE IN OUTPUT


 UNIT COST REDUCES



 PROFIT POSSIBILITIES RISE



 FOCUSED ON PRODUCTION

 WHAT MAKES THEM MYOPIC?

 LACK OF CONSUMER RESEARCH.



 CUSTOMER NEEDS GET STEPCHILD

ATTENTION.


 MARKETING EFFORT VIEWED AS A

NECESSARY CONSEQUENCE OF THE
PRODUCT-NOT VICE VERSA.



 IS THERE ANY TREATMENT FOR
THIS MYOPIA?

 COPE UP WITH THE CONSTANTLY

CHANGING CONSUMER NEED.


 ‘CREATIVE DESTRUCTION’ OF UNPOPULAR

PRODUCT OR SERVICE.


 BEING CUSTOMER ORIENTED; NOT

PRODUCT-ORIENTED.

 DANGERS OF
R&D
Pay too much attention to research
and development and ignoring the
marketing efforts required.

Believe that the superiority of the
product will make it a success.

Fail to probe into the basic human
needs.
 CONSEQUENCES
Marketing was given a “stepchild treatment”.

Created wrong notions that a superior product
will sell itself.
Lead to failure of products like “CORFAM”,
“Kellogg” , “Mc Donald's Arch Deluxe” etc:
 Solutions
Target the basic need of the customer,
instead of useless enhancement, as they
might not match.

Eliminate the idea that “superior always
sells.”


 conclusion
 Adapt market requirements as soon as
possible.

 An efficient leader is a must.

 Concept of customer-orientation must travel
in every nook and corner of the
organization.

“Direct yourself effectively and then success
will follow”



THANK YOU


BY:-


Nishtha Vyas


Swati Majumdar


Sudeshna Rakshit


Takshil Shah


Salim Husain
