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Requirement
Students are required to access, through library resources, Marketing Myopia*, an article written in 1960 by Theodore Levitt and published in the Harvard Business Review. Once you have accessed the article, read, reread and consider the ideas advanced by the author. Do you agree? Disagree? Are his ideas relevant today? What are the strengths and weaknesses of his arguments? The goal of this assignment is to have you critically assess the ideas advanced by the author using your own knowledge and experience to justify your position.
Solution
Critical analysis of the article: Marketing Myopia by Theodore Levit
In this article, the author has written that the companies emphasize on the selling their products, and not the marketing which is a big mistake that is conducted by them. In the selling concept, the companies focus on the seller’s needs and in the concept of marketing, the concentration is on the needs of buyer. The main idea that is propagated in the article is that the industry is a process of satisfying the customers, and it is not a process of producing the goods. So, the progress of the business depends on the fact that they concentrate on the needs of the customers and not on selling the products. So, this concept is explained by defining the ‘marketing myopia’ which means the failure or the short-sighted vision of the top management of the company in defining the purpose of the company in consideration of the functions performed by it from the point of view of the consumers i.e. they do not assess the needs of the customers and they just focus on enhancing their products.
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I agree with the ideas of the author because the companies focus on refining their products and they face downfall in the long run. Their vision is not related to the satisfaction of the customers, but they just focus on development of their product and enhancing their product. This is a wrong practice because it is the responsibility of the businesses to satisfy and fulfill the needs of the people.
The ideas of the author are relevant today because there are many substitutes of products available in the market. If the companies keep on producing more and more and they do not realize that the substitutes can wipe out their huge production, then they cannot survive in the market for a long time. Therefore, the top management must develop a vision for satisfying the customers and meeting their needs rather than selling their products.
The strength of the arguments of the author is that he argues that the growth of the industries get slow down because they believe that the expansion in the size of population will help them in growing, they cannot get competition from the substitutes and mass production will reduce their costs and increase profits. All these are myths by the businesses and these are the major believes that led to the downfall of the companies.
The weakness of the arguments of the author is he mentioned the concept of marketing myopia as completely flawless which is ambiguous. For example, the example of railroads is not relevant completely. He said that the railroads failed because the management was not capable of defining its purpose and it did not fail because of introduction of the other facilities of transportation. So, this logic was ambiguous.
In my opinion, the article has value and it is relevant to apply to the business in the current environment because the changing environment demands the vision and the ideologies of the business to change too.
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Levitt, T. (1960). Marketing myopia. Harvard business review, 38(4), 24-47.
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