Marketing Myopia and article critiques - Essay Example

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Marketing Myopia and article critiques

Levitt spoke of the ‘Error of Analysis’ whereby, the company defines its scope inaccurately and is unable to grow because it has restricted itself. Companies tend to stop growing, not because of fall in demand or increased competition, but because they were mismanaged and failed to realize their own potential and the opportunities that would have come with it had they managed themselves properly and expanded their horizons, instead of having a very myopic view about their business. He gives the example of the railway, which has steadily declined over the years as other vehicles become mainstream transport. This failure is not because the demand for rail travel declined, it is because they had a “product-oriented instead of customer-oriented” approach (Levitt, 1960). In the same vein, the TV business is bigger than the film business ever was, just because Hollywood restricted itself to movies by categorizing itself as being in the film business and not the entertainment business and massively restricting its horizons. To explain the reverse side of the argument, TV is a success story because it has not restricted itself to one category. ...Show more

Summary

Marketing Myopia (Article Critique) Name University Marketing Myopia (Article Critique) “Marketing Myopia” was written by Theodore Levitt for the Harvard Business Review and published in 1960 by said journal. Since then, the article has generated much critical acclaim and has gained almost cult status in the field of marketing…
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