Most businesses prioritize profit-making through coming up with marketing strategies that maximize sales. In the present dynamic business environment, such strategies sometimes fail because such companies sacrifice customers' needs for profit. In such instances, marketing myopia becomes inevitable. People should gear marketing concepts towards satisfying the customers' needs. By definition, the marketing concept is the management philosophy which argues that employees can best accomplish their firm's goals through the identification and satisfaction of the customers' stated and unstated needs and wants.Marketing myopia, on the other side, is nearsightedness ( Shabir& Cova, 2019). The business cannot have a vision and perceived long term and sustainable goals. The term myopia in a scientific form is the ability to see the near objects clearly while having a blurred vision on far objects. Marketing myopia thus is the inability of a business to understand or single out the scope of the company in which it operates. Both the marketing myopia and marketing concept underscores the fact that customer needs to drive the business operations.
The marketing concept is the belief that customers' needs are the driving force behind a business. According to the marketing concept idea, a company needs to study and assesses the customers' needs, and use such requirements to make decisions on ways through which it can satisfy the criteria better than their competitors. In this sense, companies that use this philosopher believe that the customers' needs are on the driver seat and other factors such as sales rely on the ability to satisfy the needs and desire of the customers. Such companies thus begin by doing extensive research to understand what the consumers need. Having understood such wants and needs, they then come up with a plan to define how they can reach target consumers and tune their products to satisfy the needs and wants of the target consumers.
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Satisfying the needs entails market strategies that gear towards the target consumers. It also includes both product concepts and sales concepts which are made based on the consumers’ needs. For such companies also, products and services developments are critical to success. They understand that that consumer’ demands and needs shift continually. In responses, they set up research strategies to understand the dynamics of such needs and come up with products or services development strategies targeting the shifting consumers’ needs to stay relevant in the market.
Marketing myopia thus relates to the marketing concept in that they both define the goal of business concerning the customers' needs. According to the idea of marketing myopia, companies that have a narrow view of the market tend to fail because they do not understand what the customers need. In this case, such businesses lack insight into what they are doing for their existence(Villarino& Font, 2015). Marketing concept and marketing myopia thus share different ideas which are critical for business development and prosperity. First, both sell the idea that a business must not only remain technically sounds with their products and services but must also be customer-oriented to stay relevant and productive in the business platform. Further, both concepts underscore that fact that the business must come up with strategies to maintain the customer's demands which are regular ly shifting ( Shabir& Cova, 2019). With such regard, they all propose to research and developments on the existing strategies to adapt to the changing needs and wants from the customers.
There are numerous examples of the marketing myopia, some of which took place sometimes back while others are recent facts. Marketing myopia is relevant to the stagnation of the railroad companies at a global stage. These companies have struggled to achieve maximum because they fail to understand that they are not merely the railroad business, but are part of the broad transportation industry which is competitive and innovative. In this sense, as new ways come in for that suit the customers' needs, the inflexible railroad services become obsolete for the customers. The only way to overcome such myopia is to craft marketing plan and strategies which goes beyond the railroad to include factors which affect the entire transport industry.
Another good example of an organization that suffered from marketing myopia is the Hollywood industry. The industry faced myopia because its management thought Hollywood could succeed by merely producing films and movies and ignoring other sectors such as the rise of television as technical competitors. Most of the Hollywood companies underwent restructuring because they assumed that they were in the business of film production and ignored the threat of the televisions. What these companies missed was a simple fact that they did not exist to make a good film for the customers, but they were existed to entertain the customers in many ways (Villarino& Font, 2015). They missed the fact that in case the customers get a new mode of entertainment, their services would become obsolete. Hollywood companies were quick to dispel this myopia after realizing that television was harboring a threat to them. Giant companies such as Fox, Vista, and Buena thus entered into television productions.
In conclusion, both marketing myopia and concept champions for vision in business. According to such ideas, a company exists to satisfy consumers need better than their competitors to stay relevant and makes sales. It is not merely about organizations producing goods and services to the customers but ensuring that they cater to customers' needs effectively.
References
Shabir, A., & Cova, V. (2019). From Psychological and Marketing Myopia to Food Myopia: A Consumer perspective (No. hal-02087149).
Villarino, J., & Font, X. (2015). Sustainability marketing myopia: The lack of persuasiveness in sustainability communication. Journal of Vacation Marketing , 21 (4), 326-335.
