As discussed in the Unit I Lesson, the marketing concept consists of elements that concern market segmentation and how it relates to target markets. Also, recall that promotion is used to reach those target markets.
In this essay, define the marketing concept and summarize its relationship to marketing myopia. Give an example of marketing myopia that you have seen.
- Your essay must include an introduction.
- You must also reference at least one journal article from the CSU Online Library and one article from a business-related or news website; therefore, your essay should be supported by at least two sources.
- Your essay must be at least three pages in length and double-spaced—not counting the title and reference pages.
- All sources used must be referenced; paraphrased and quoted material must have accompanying APA citations.
Marketing myopia is a term used to describe the need for organizations to focus their attention on meeting the customer’s needs rather than concentrating on selling their products. Marketing myopia describes the way many organizations put much of their efforts and time in developing and selling products rather than in identifying what the consumers actually want (Cleverism, 2020). This shortsighted nature or lack of the bigger picture in organizations is what makes them focus on short-term gains from their products without considering the customers’ needs. According to Theodore Levitt, who introduced the term, many organizations suffer from marketing myopia in their approach to marketing. They focus on how their marketing approach will benefit the organization while failing to focus on the customers’ needs and wishes.