Marketing Myopia

We put our business at risk of obsolescence when we accept any of the following myths:

Myth 1: An ever-expanding and more affluent population will ensure our growth. When markets are expanding, we often assume we don't have to think imaginatively about our business. Instead, we seek to outdo rivals simply by improving on what were already doing. The consequence: We increase the efficiency of making our products, rather than boosting the value those products deliver to customers.

Myth 2 : There is no competitive substitute for our industry's major products. Believing that our products have no rivals makes our companies vulnerable to dramatic innovations from outside our industries- often by smaller, newer companies that are focusing on customer needs rather than the products themselves.

Myth 3: We can protect ourselves through mass production. Few of us can resist the prospect of the increased profits that come with steeply declining unit costs. But focusing on mass production emphasizes our company's needs- when we should be emphasizing our customers'.

Myth 4: Technical research and development will ensure our growth. When R & D produces breakthrough products, we may be tempted to organize our companies around the technology rather than the consumer. Instead, we should remain focused on satisfying customer needs.

" If thinking is an intellectual response to a problem, then the absence of a problem leads to the absence of thinking."
Levitt, Theodore.

Marketing Myopia; Harvard Business Review (2008)​ge