marketing myopia final

Marketing MyopiaMarketing Myopia

Muhammad Abdur Rehman

Muhammad Waqas Rafique

Muzammil ShahabuddinSaquib KamranTaimoor Jamil

Marketing myopiaMarketing myopia“Some organizations ignore the fact that to be successful, the wants of customers must be their central consideration.”

(http://dictionary.bnet.com/definition/marketing+myopia.html)

Marketing myopiaMarketing myopia“Short sighted and inward looking approach to marketing that focuses on the needs of the firm instead of defining the firm and its products in terms of customers’ needs and wants.”

(http://www.answers.com/topic/marketing-myopia)

SymptomsSymptomsComments such as:•“They have nothing on us”•“That could never happen to us”•“We are our own competitors”•“Customers love our product or service regardless of what happens”•“They will buy whatever we will sell to them”

SuccessesSuccesses• Pepsi-Cola is a good example of which marketing and management myopia is absent.

• Pepsi-Cola’s diversification into other markets.

•Product: a feel good thirst quencher and commodity: a soft drink.

FailuresFailuresKodak film company is a great example

in which marketing myopia was present.

Kodak did not view Sony, an electronics company, as a potential competitor.

Product: capturing moments and commodity: film

CausesCausesShadow of obsolescence

Population Myth

Production Pressures

Dangers of R & D

Lessons we can learnLessons we can learnCompanies need to know the difference

between a product and commodity.

Product: “what a customer feels about your business”.

Commodity: “A commodity is anything for which there is demand, but which is supplied without qualitative differentiation across a market.”

(en.wikipedia.org/wiki/Commodity)

Modern day relevanceModern day relevanceWe live within a society that is:Fast pacedContinuously evolvingConsumers seek instant gratificationCompetition is rifeCompanies’ either have to EVOLVE and

ACCOMMODATE consumer needs OR DIE

We need unconventional We need unconventional managementmanagementConventional management is a symptom of marketing and management myopia because the system in which managers are groomed is indiscriminant of whom it captures and who’s mind it handicaps by restricting their thinking to “tried and tested” thought processes.

Avoiding Marketing Avoiding Marketing MyopiaMyopia

In conclusionIn conclusion“The problems that exist in the

world today cannot be solved by the level of thinking that created them”. By Albert Einstein

To ensure continued growth for your company, concentrate onmeeting customer’s needs ratherthan selling products

Thank YouThank You