''Marketing Myopia'' by Theodore Levitt was a business article published in the HBR, and Levitt is credited with coining the phrase. Levitt theorized that many businesses operate in a "myopic" culture, meaning they are shortsighted. This shortsightedness leads a business to fail, even if the...
Can marketing myopia be reversed once a company has fallen into it? Yes. Marketing myopia initiates a self-deceiving cycle, meaning identifying it is half the battle. Once you realize you’ve fallen into the marketing myopia trap, use consumer and market research to adjust your business strategy...
This amounts to saying that a price has not only an “objective” meaning (i.e., the amount one needs to pay to acquire the product), but also a “subjective” meaning shaped by a comparison of perceived quality and perceived sacrifice/deal. To implement this mental accounting à la ...
Chen and Ma (2021) confirmed that enterprises with high financing constraints face the problem of insufficient capital, meaning they lack enough financial support to adjust costs, aggravating enterprise cost stickiness. In our paper, we consider the mechanism of adjustment costs and financing ...
This optical design addresses two effects that have been proven to play a role in the development of myopia6. For myopic children, the near-vision accommodation does not correspond entirely to the distance of the object they are looking at, meaning the image is not entirely clear. The image ...
Also ReadNetwork Marketing – Meaning, Types, Features, Advantages It’s all about creating a natural and authentic experience for your consumers. 7. Monitor and Measure the customer experience Monitor and measure your customers’ experience. Ensure your company listens to and acts on what they say...
Can marketing myopia be reversed once a company has fallen into it? Yes. Marketing myopia initiates a self-deceiving cycle, meaning identifying it is half the battle. Once you realize you’ve fallen into the marketing myopia trap, use consumer and market research to adjust your business strategy...
Marketing myopia example: MyDoll The hypothetical ecommerce company MyDoll makes and sells high-quality dolls for parents with disposable income, with girls aged five to 12. The company sets the short-term goal of introducing a new doll to its collection and increasing market share in the child...
Marketing myopia sets in when a business overly focuses on the internal and the immediate at the expense of the external and long-term.