The article by Theodore Levitt focuses on the marketing strategies that executives should consider for their businesses.Levitt through his article introduces the most influential marketing ideas that seem to have been effective…
According to Levitt, business can only succeed when the business management concentrates on satisfying customer’s needs as opposed to selling produce. Notably, customers are the backbone of any business if they do not buy the products the business can never grow (Levitt, 2004). Therefore, fulfilling the needs of customers translate to intense buying and selling products. Additionally, customers often feel comfortable to buying or engage in business with institutions that fulfill their business needs. Therefore, Theodore Levitt’s article “Marketing Myopia” is a platform that provides the management of businesses with understanding why and how to improve the productivity of businesses and the real needs of customers towards this growth. Levitt is advising the marketers to focus further on the market that shall modify products and companies instead of focusing on their own companies. Modifying products ensures that these products increase value thereby catering for the changing demands of customers and the business community. According to Levitt, first priority should be directed to the market, which is the customer. To emphasize on his new marketing myopia, Levitt uses numerous business institution (Levitt, 2004). For example, Levitt focuses on the business productivity on Hollywood and in the same concern he possess a question “if Hollywood was into television rather than movies, wouldn’t it have profited more?” The ideals presented or posted by this question are actually true. Most of the Hollywood crowd usually concentrated in making movies than in money. In the real sense, there is much money in the television than in movie making. Through this question, Levitt is challenging business to check and if possible to change their strategies. Notably, if Hollywood could have thought of the television market, it would have made more money that what they currently make (Levitt, 2004). With Hollywood and Sony among other television channels, Levitt introduces new marketing idea termed as the marketing myopia theory. The myopia marketing theory concentrates on marketing strategies where companies are not only needed to be product oriented and technically sound, but the theory also needs companies to focus on the customers. Different companies deal on different customer products; therefore, different companies have different customer needs (Levitt, 2004). Thus, according to the myopia marketing theory, Levitt advocates for companies to identify these different customer needs so that they can be brought into effect towards marinating the customer interest. Adoption of marketing myopia theory may have numerous implications to organizations. From the projected effects of the myopia theory, the theory can be applied to both marketing and advertisement to determine whether a business is catering for the market adequately, or there are adjustments to be made (Levitt, 2004). The adjustments that may be projected by numerous businesses must; thus, aim at catering for large market since Levitt is more concern in businesses making more profit than they currently make. Moreover, the myopia theory needs businesses to identify effective advertising strategies. In this concern, according to the theory, identifying new markets is not the entire solution to the entire process, after the identifying the market, it is vital of management to work out ways to reach and have effects to this newly identified market (Levitt, 2004). It is only through effective marketing strategies that the identified markets can effectively deliver. However, it may be a problem for organizations to ...
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