MarketingMyopia

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• What is Marketing Myopia

Shortsightedness of a business

Which means it mainly focuses on business needs rather than customer

needs and wants. This is a failure in Management ¥2

• Why Marketing Myopia exists

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Shadow of the past

Focusing on that one product and not the changing world.

E.g.: Video Cassette Player - Replaced by DVD therefore deck is an obsolete product.

Type writers replaced by the computers.

Industry Cycle- An industry which is in the growth stage must also predict that they will have a decline stage.

E.g.: Dialog- It did experience the declining stage but successfully regained its position.

Hutch- Is in the declining stage and Sangakkara moved to Airtel

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•Population Myth•This means that firms believe that more you expand and reach a higher population the more the business would grow.•E.g.: FMC Goods- it is available to every one but yet one product only has a smaller market share.

•Product focused

•Focusing on the product efficiency rather than on Marketing.•E.g.: Automobile industry rapidly increasing its features and efficiency but not market requirements. They will have to move out when Hybrid Vehicles come. ¥2

Idea of “We are the

best” no

competition.

E.g.. Gas industry.

In time to come

instead of Gas people will start

using only electricity to

prepare their meals

which would be more cost

effective.

Laugh Gas came in to

the industry and shell

gas lost part of its market

share.

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Uncertain FutureSome do not concentrate on the future of the products.

E.g.: Carbonated drinks might move out of the market giving room for natural drinks.

Herbal products might dominate the market in future since people are more health conscience lately.

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Trapped in the

trap of Mass

Production

E.g.: Sim cards of telephones. They make these available every where even in the

smallest shop, which might highly damage the brand

image.

Making the product

available everywhere

would damage the company image.

“Rather than being

everything to every one it is better to

be something to some one”

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Product oriented and not Market oriented

E.g.: In USA a manufacturer of dog biscuits produced Ice cream for dogs. Well dogs loved it but not the owners. Owners wanted their dogs to be satisfied merely by eating up what is

remained.

Motorola, Voda phones- They try inventing new features into their mobile phoned with a lower price, but what the market

wants is standard quality features and Nokia has dominated in it so far.

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Dangers in Research and development

Research and development is essential for a firm but it should focus on customer needs.

Research merely on technical product development will cause damages.

E.g.: New coca cola was introduced with a sweeter taste compared to the classic coke. But it failed in the market. Later they got to know that people loved coca cola for its unique taste. That’s the attitude of the customer that a researcher cannot change. ¥2

Is too much R & D Good?

Once a company comes with a

new innovation gradually it

tends to focus more on the

product and not on the end user.

E.g.: Continues R & D has been

done before Airtel came to SL… But they did not give a

reason as to why other

connection users should use Airtel? Will they change only for the price? As yet

dialog and Mobitel is

dominating.

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“Rather than selling products, organizations need to buy customers while retaining their existing customers through satisfying their

changing needs”

“If not for the customer we wont

be in business, therefore customer should be the focal

point in all our business activities”

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Marketing Myopia

occurs mainly

due to the failure of

proper Managem

ent.

“Unless you know

where you head, any path will lead

you there”

“Do not look in the mirror, but

look out from a

window”

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Are you a Marketing Maniac now?

Too much of service

to the customer will make

them reluctant to switch

to the product because

most customers

do not want to

take a risk.

E.g.: Chine

se Phon

e mark

et.It has

all the

features

that a Nokia

3G phone offers but

people are reluctant to shift

cause it is good to be true and they do not

want to

take a risk.

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Henry Ford concentrated on the price and low cost only but not on the changing needs of customers.

Bill Gates founder of Microsoft, Michael Dell founder of Dell computers

People like Richard Branson the founder of Virgin Airways,

Otara Gunewardene, the innovator in Fashion industry are good examples for people who have successfully recognized customer changing needs.

Marketing Mania and Marketing

Myopia both will affect adversely.

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“To become a good fisherman you need to think like a FISH” ¥2

To be a successful organization, then think like your customer.

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Thank You

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