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Essay / Research Paper Abstract
This 3 page paper summarises the 1960 article written by Theodore Levitt entitled “Marketing Myopia” which looks at the way businesses, such as the railroads, failed due to a product orientated approach. The bibliography cites 1 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEmktmyopia.rtf
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Unformatted sample text from the term paper:
today as accepted knowledge, but at the time this was an important article, and it has influenced many marketing theories since its publication. The article challenges the way that
marketing was taking place at the time. Many companies were seeking to find growth industries where increased sales would increase their profits. Levitt states "In truth, there is no such
thing as a growth industry, I believe. There are only companies organized and operated to create and capitalize on growth opportunities" (Levitt, 1960). The organisations need to see these opportunities.
This is where the title comes from. Myopia means short-sighted, not being able to see very far ahead. The way this occurs is often with a preoccupation with the product
that is being sold, and not what it is that the consumer is buying. This is the way that marketing myopia may emerge, not looking at the bigger picture.
Levitt uses a good example to show how marketing myopia can disadvantage a company as by looking only at the product they do not see its potential or the way
in which the market is or could move. The example is the railroads. The railroads were once thriving and successful companies, however as time when by they began to decline,
they did not see themselves as transportation companies, but merely as railroads. Therefore, they did not see the airlines as competition, when in truth these were seen as an alternative
form of transportation by the consumers. Levitt states "The railroads are in trouble because the need was filled by others because it was not filled by the railroads themselves. They
let others take customers away from them because they assumed themselves to be in the railroad business rather than in the transportation business" (Levitt, 1960). The companies had defined
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