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CritiqueThe Article "Marketing Myopia" - Essay Example
Pages 4 (1004 words)
The article Marketing Myopia is a very informative and interesting piece of marketing literature. One of the main points of the article is that companies should be customer oriented instead of product oriented. Two industries that were not able to take advantages of market opportunities due to their product centric mentality are the railroad business and the Hollywood movie industry…
Companies should satisfy customers through inventiveness and skill. The dry cleaning industry is currently an industry that is in turmoil. Innovations such as synthetic fibers and chemical additives have cut the need for dry cleaning. Utilities may be natural monopolies now, but in the future the rise of renewable energy sources such as solar can replace the need for the electric grid infrastructure. The supermarket industry is extremely competitive and has many participants. Market changes can alter the longevity and profitability of an industry. According to Levitt (2004) there is no such thing as a growth industry since there are only companies organized and operated to create and capitalize on growth opportunities. The oldest growth industry is the petroleum industry. The population myth is the belief that profits are assured by the expanding and more affluent population. In an expanding market companies often fail to apply imagination in its decision making. The petroleum industry is an example of an industry that has become complacent in its business practices due to the fact that the petroleum industry’s efforts have focused on improving the efficiency of getting and making its product, not really on improving the generic product or its marketing. ...
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