The theory states that marketers should look towards the market and modify the company. Marketing myopia is a term used in marketing as well as the title of an important marketing paper written by theodore levitt. Marketing myopia suggests that businesses will do better in the end if they concentrate on meeting customers needs rather than on selling products. Marketing myopia hbr classic summary from reprint of the original 1960 article. This is a mistake, because selling focuses on the needs of the seller, whereas marketing concentrates on the needs of the buyer. Industries failed to continue their growth not because of a saturated market but failure of proper management. A free powerpoint ppt presentation displayed as a flash slide show on id. Marketing myopia an update how theodore levitt changed our.
During the past half century, marketers generally have heeded levitt s 1960 advice to avoid marketing myopia by focusing on customers. How do i find theodore levitts classic hbr article. But levitt himself not only ends up endorsing selling. Theodore levitt s marketing myopia colin grant abstract. Marketing myopia an update how theodore levitt changed. The potential threat of marketing myopia explained with. Article by julia hanna published in working knowledge on december 17, 2008.
Since then, the article has generated much critical acclaim and has gained almost cult status in the field of marketing. His seminal, occasionally controversial, articles owe as much to their racy writing style as their provocative content. Free registered users may view 3 magazine articles per month. This cycle consists of four conditions which cause companies to stop growing. Theodore levitt, in his article marketing myopia, compels the readers to understand the importance of effectively set visions which are a catalyst for the companys success. The philosophy or orientation presented by levitt still has profound implications for the discipline of logistics, even 40 years after the writing of his article. Marketing myopia critique marketing myopia is an article written in 1960 by theodore levitt. Aug 22, 2016 the term was coined by the late harvard business school marketing professor, theodore levitt, in a 1960 article by the same name republished in 2004.
Introduction the role of marketing is to make selling superfluous hereafter, called redundancy statement can be traced to the thought of two of the great management thinkersthedore levitt and peter drucker. Levitt s fundamental question, what business are you in. Not long after levitts 1960 seminal article, the marketing literature included. We argue that they learned this lesson too well, resulting today in a new form of marketing myopia. Marketingwit provides you with more information about marketing myopia along with its examples and how to avoid it. In theodore levitt s article, marketing myopia 1975, the concept of marketing was widened by examining the history of failed industries doomed to fail eventually. According to the writer, businesses will do better in the end if they focus their attention on meeting customers needs rather than on selling products. Marketing myopia is a narrowminded approach to a marketing situation, wherein an organization focuses more on its product offerings rather than its customers and markets demand.
The article analyzes the example of june 1970 when penn central ran out of money and launched the largest bankruptcy case in us history. As the name describes the story, basically this concept talks about short. Packards 1957 hidden persuaders and levitt s 1960 marketing myopia, marketing as both an academic and business discipline has become more sophisticated in its methods and delivery, contributing to increasing prosperity. May 06, 2008 in marketing myopia, theodore levitt offers examples of companies that became obsolete because they misunderstood what business they were in and thus what their customers wanted. But some that are now riding a wave ofgrowth enthusiasm are very much in the shadow of decline. For an organization to be able to cater to the needs of a market, it not only needs to be technically sound but also consumer oriented. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life in business and beyond. The new marketing myopia during the past half century, in general, marketers have heeded levitt s 1960 advice to avoid marketing myopia by focusing on customers. Marketing myopia, a useful marketing strategy theory. Other which are thought of asseasoned growth industries have stopped growing. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. During the past half century, in general, marketers have heeded levitts 1960 advice to avoid marketing myopia by focusing on customers. Theodore levitt said, in a widely quoted article, selling is preoccupied. At the time of the articles publication, theodore levitt was lecturer in business administration at the harvard business school.
The idea in brief the core idea the idea in practice putting the idea to work article summary marketing myopia a list of related materials, with annotations to guide further exploration of the articles ideas and applications 15 further. Milestones in marketing we invited john quelch and katherine jocz, authors of. What is marketing myopia and what does the theory suggest. The new marketing myopia abstract during the past half century, marketers generally have heeded levitts 1960 advice to avoid marketing myopia by focusing on c ustomers. Oct 29, 2014 marketing myopia hbr classic summary from reprint of the original 1960 article. Excluding a product from a lineup when it is necessary reacting to the shift preferences of customers. Theodore levitt criticizes john kenneth galbraiths view of advertising as artificial want creation, contending that its selling focus on the product fails to appreciate the marketing focus on the consumer. In marketing myopia, theodore levitt offers examples of companies that became obsolete because they misunderstood what business they were in and thus what their customers wanted. Professor theodore levitt is widely regarded as the poet laureate of the marketing academy. The term was coined by the late harvard business school marketing professor, theodore levitt, in a 1960 article by the same name republished in 2004. Although the content of levitt s publications have been debated at length, his style has attracted much less academic attention.
The idea in brief the core idea the idea in practice putting the idea to work article summary marketing myopia a list of related materials, with annotations to guide further exploration of the article s ideas and applications 15 further. The new marketing myopia abstract during the past half century, marketers generally have heeded levitt s 1960 advice to avoid marketing myopia by focusing on c ustomers. Organizations exist to enable ordinary people to do extraordinary things. After reading it, you will understand the basics of this useful marketing strategy theory what is marketing myopia. Marketing myopia in his article marketing myopia, theodore levitt insists that failure in industries is at the top where executives deal with broad goals and policies. In this article, the authors argue that marketers have learned this lesson too well, resulting today in a new form of marketing myopia, which also causes distortions in strategic vision and can lead to business failure.
In this widely quoted and anthologized article, first published in 1960, theodore levitt argues that the history of every dead and dying growth industry shows. Ppt marketing myopia by theodore levitt powerpoint. In a retrospective commentary, he considers the use and misuse that have been made of marketing myopia, describing its many interpretations and hypothesizing about its success. More than 1,000 companies ordered 35,000 reprints in the weeks after. During the past half century, in general, marketers have heeded levitt s 1960 advice to avoid marketing myopia by focusing on customers. Revisiting theodore levitt and marketing myopia may 22, 2014 by greg hopper lessons from history. What business are you in classic advice from theodore levitt. The title of the article hints what it suggests, a shortsighted approach to marketing. By closing this message, you are consenting to our use of cookies. The marketing myopia theory was proposed by theodore levitt. Analysis of theodore levitts marketing myopia bartleby. Years ago, theodore levitt, a marketing professor at the harvard business school, published a popular article entitled marketing myopia. Use features like bookmarks, note taking and highlighting while. Marketing, corporate policy, vertical integration, masdar institute.
Most of the industries focus largely on their refined product and become victims of downfall in the longrun. One of levitt s articles is entitled marketing success through differentiationof anything. Marketing myopia theodore levittevery major industry was once a growth industry. He defines marketing myopia using something he calls the selfdeceiving cycle. Jun 21, 2019 the marketing myopia theory was proposed by theodore levitt. Marketing myopia is analogous to a product orientation, whereby the firm defines itself as a productproducer. Marketing myopia was initially described as a firms shortsightedness or narrowness when it is attempting to define its business. Marketing myopia is the quintessential big hit hbr piece. Marketing myopia theodore levitt every major industry was once a growth industry. Defining the market and understanding your customer page 1.
Reducing marketing myopia futuristics is the study of the future. After reading it, you will understand the basics of this useful marketing strategy theory. Theodore levitts 1960 article marketing myopia is a business classic that earned its author the nickname the father of modern marketing. In this article, the authors argue that marketers have learned this lesson too well, resulting today in a new form of marketing myopia, which also causes distortions in strategic vision and can lead to. Marketing myopia was written by the late theodore levitt over 55 years ago.
Levitts fundamental question, what business are you in. B est of hbr 1960 sustained growth depends on how broadly you. International journal of scientific and research publications, volume 7, issue 3, march 2017. This term have been introduced by theodore levitt through an article entitled marketing myopia. He identifies the four widespread myths that what business is your company really in. Download it once and read it on your kindle device, pc, phones or tablets. Marketing myopia international journal of academic research and. What marketing was and has to return to a focus on knowing and serving. Yet to its detractors, marketing should shoulder its share of blame for the growth of the. To learn about our use of cookies and how you can manage your cookie settings, please see our cookie policy. A summary on marketing myopia marketing myopia is a term used in marketing which has been written by theodore levitt. Alex elwood nikolas foster blake overall shaelee pittenger lorelei wilson what is myopia nearsightednessnot inherited. Levitt, who was then a lecturer in business administration at the harvard busi.
In it, theodore levitt, who was then a lecturer in business administration at the harvard busi ness school, introduced the famous question, what business are you really in. Jul 04, 2015 a summary on marketing myopia marketing myopia is a term used in marketing which has been written by theodore levitt. Yet to its detractors, marketing should shoulder its share of blame for the growth of the excesses of consumerism and. Christensen, theodore levitt, philip kotler, fred reichheld. Marketing myopia is used in marketing as well as the title of a marketing paper written by theodore levitt. We argue that they learned this lesson too well, resulting today in a new form of marketing myopia, which also causes distortions in strategic vision and can lead to business failure. In theodore levitts article, marketing myopia 1975, the concept of marketing was widened by examining the history of failed industries doomed to fail eventually. Many people in business today, despite not having read the article, subscribe to the idea. Levitt was a marketing professor at harvard who has published many articles on the subject. Focusing on customers want rather than what the company wants page 10 not neglecting marketing 3. Marketing myopia essay example topics and well written.
Levitt is one of the magazines most prolific contributors. Theodore levitt s 1960 article marketing myopia is a business classic that earned its author the nickname the father of modern marketing. Pdf marketing myopia download full pdf book download. Marketing myopia is the name given to companies that are shortsighted and look no further than their own product.
Leading experts such as ted levitt and clayton christensen provide the insights and advice you need to. Marketing myopia, by theodore levitt 48 words 6 pages. Others dont, and the lessons of marketing myopia continue to apply fiftyfour years after publication. Levitt propagated similar ideas in his classic marketing myopia levitt. In this article, the authors argue that marketers have learned this lesson too well, resulting today in a new form of marketing myopia, which also causes. Levitt, the real theorist tried to narrate how some misconceptions or. Marketers suffering from the new marketing myopia view the customer only as a. Hbrs 10 must reads on strategic marketing with featured. In this widely quoted and anthologized article, first published in 1960, theodore levitt argues that the history of every dead and dying growth industry shows a. Marketing is one discipline which can benefit greatly from futuristics. Pdf marketing myopia by theodore levitt may boutaleb. We always know when an hbr article hits the big time. This article explains the concept of marketing myopia in a practical way. What usually gets emphasized is selling, not marketing.