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Do you agree or disagree with the author’s basic premise on “Marketing Myopia? Marketing Myopia is a breakthrough article that has deeply influenced the management models during its publication. Its principles are still at work and very much applicable today…
A growth industry builds its success by replacing a previous utility or product and it is at risk of such same risk of replacement by future innovations. Thinking outside the box is not some initiative to make a difference or of being creative. Rather, it is a crucial component of every organization’s attempt for competitive advantage and survival. Levitt argued that there is really no such thing as a growth industry because everything works within a cyclical process. Here, an industry or a business may assume its strength because of the unchallenged superiority of the product, which displaced another that it has substituted. His evidences are legitimate and numerous. He cited the experiences of many industries that were considered boom sectors but eventually declined after several years. The cycle features organizations and products constantly replacing another because of wrong management perspective. The examples provided were the dry cleaning industry, the railroad industry and the grocery stores. Levitt also predicted that the electric utilities and gadgetry is in danger of the same trouble because technologies will then be discovered to offer newer and more efficient products. The idea is that when managers fail to think outside the box – beyond the periphery of their visions, their products tend to be swallowed by the cycle. ...
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