Who coined the term ‘Marketing myopia'?
The rapid growth in technology, the recession, and globalization have prompted businesses to reflect on their organizational goals and policies. Thousands of products are launched every year, most of which fail and never live to see the light of day.
Theodore Levitt introduced the expression "market myopia" in a marketing paper. It was published in the Harvard Business Review in 1960, where he said that businesses could do better than selling their products. His main argument was that the marketer should focus on the needs and satisfaction of the customer, not on sales and filling customers with their products. Theodore Levitt explains through the carefully written term ‘marketing myopia’, which refers to short-sighted visions of top management that focus on enhancing products rather than judging customer needs.
Step by step
Solved in 3 steps