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Marketing Myopia, written by Theodore Levitt, was published in the Harvard Business Review. It won the McKinsey award in 1960. This is a business article that asks the question, “What business are you really in?…
Marketing Myopia, written by Theodore Levitt, was published in the Harvard Business Review. It won the McKinsey award in 1960. This is a business article that asks the question, “What business are you really in?” It talks about the strategy of doing business and marketing. Levitt argues that for a business to do better, focus should not be on selling products to customers. Rather focus should be on the customer needs and meeting those needs. According to the writer, most businesses that do not grow, or whose growth keeps declining have a management problem. This management is of the top executives of a company since they are the policy makers and implementers. For a long time, companies have been focusing on the kind of products they think suits the customers. This has led to failures of this company or stagnating growth, to say the least. Theodore Levitt is remarkably insightful in arguments about the failure of management. It is argued that the failure is with the top executives whose work is to make policies. An example is given of the transportation industry, where railroad has been replaced by other means of transport that meet the needs of the customers. The railroad failed to meet the needs of the customer. This is because they had a wrong definition for their business, which is product oriented. They instead should have defined it as customer oriented. The second example is Hollywood, whose focus was in production of movies and not providing entertainment. ...
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