Marketing Myopia Essay Example | Topics and Well Written Essays - 1000 words - 3

Marketing Myopia - Essay Example This article and its subject matter are very pertinent to the field of marketing because it helps define a path that should be taken by marketers if they intend to avoid very common and just as destructive mistakes. The management of a company may make several errors that are discussed in the paper. Sometimes the company’s scope is incorrectly defined and this creates a restriction for this company which hinders future growth. Furthermore, sometimes the unique selling proposition of the company’s product may become obsolete and since management does not renew nor revive the proposition the customers lose interest in and soon forget about the product. Baseless assumptions and complacency are also two mistakes hinted at by Levitt in his essay. A huge problem may arise if management focuses on supply side policies and overlooks demand side policies and conditions; if a strong and lasting bond with the consumer is not created, it is very likely that the brand/product will n ot be successful. Another failure on the part of the company’s management is when/if they become so singularly focused on the future that they fail to acknowledge the circumstances they face in the present which essentially leaves them nowhere; with no proper strategy to deal with current issues the company will not be left capable to deal with the future issues it was focusing in. In a nutshell, management’s main strategy should be one with a visionary approach and one which simultaneously focuses on the company’s customers as the most important asset of the company. This is the only asset which will function as the company’s life jacket during an economic or financial crisis. A second most critical approach is how the business’s scope is defined; if too restricted and narrow it will hinder and may even halt growth and progress. As a result of a thorough critical analysis of Levitt’s work, some strengths and weaknesses of his work come to light. Levitt’s article has garnered