Marketing Myopia Essay
In line with Levitt (1960), Marketing Myopia refers to the narrow view of myopia, marketing and business environment. This kind of advertising program without any demand with clients but an organization will is to sell goods or services within particular economic markets. It tilted a business to focus on its desire, rather than what the shopping desires, and often modifying to form a culture of immunity each typically end up losing the name, business damage and ineffective commercial practice Levitt, (1960). This is accomplished exploring by them, an enterprise may appear an extra fully meet customer needs and wants, in order to develop its business. It offers a brilliant view of thoughts for your customers. At “Marketing Myopia,” Levitt (1960), he indicates the current marking statement said: “Marketing is a stepson” most of the organizations stressed production and marketing.
2.0 Key failing 1980’s
According to the case study has shown that, the key failings in marketing as a business practice by Levitt in 1960. According to the article, the main key failing point was they had a management failure does not because the market is not saturated yet the reason is because of their own MYOPIA. These all key failing point has clearly to support and determine how they had a poor management. First and foremost, they watched it was supposed to develop but never take action to developed it, which means they were not looked at the long term while they look at the short term only, which is short-sighted goods for instance, the petroleum. The situation worsened rail transport terrible, because “they are rail-based rather than product-oriented, they were product oriented rather than customer oriented, they do not care about the client’s wants and there are more on supply but few on demand. As a results that is because why their clients snatched by the competitors.
Other than that, they are lack of considering how the rail road can be pant in the prospect future. While those who also a lack of consider how to become an excellent entertainer skills in Hollywood and rather they considered filmmaking. In addition, they have never seen the product as overall and narrow example are not to be regarded as petroleum fuel industry but is deemed the energy business, which is not considered to produce Hollywood movies but as amusement and also failed to watch this industry from any marketing view. Furthermore, Theodore Levitt defined that there is misconception of manufacturer, they are just think about the particular product and yet they are missed to see the category of the product. The last key failing point in management failure perceived by Levitt is they have a poor product structure, they are not possible comprehensive product development, failed to know its clients product range resulting in the failure of the business and cannot have a good sales in the market.
3.0 Changes and thinking
Regarding to the ideology was that it has to change from product orientation to client orientation and the practice would also move from product orientation to client orientation. How things are done there such a huge increase, because now people are extremely imaginative in how they look to the future, changes in marketing from the product-oriented and service-oriented their thinking ability to widen stricture ideas, their management is changed by catering the needs of marketing person. For instance, the Perils of Petroleum. They created a right of recourse petroleum exploration with advanced technical and know how to enjoy the confidence of senior investors, restrictions in itself technologies oil exploration, oil extraction, oil refining and did not expect substitutes; example of natural gas. The oil company has never been developed gas as a substitute to gasoline. Crude oil is one not being treated as a major patent medicine which is we all knew that petroleum was a very significant thing, if not the economy would got ill, this is how they noted that it is a proprietary drug.
Oil companies have two items have never wanted to use these two, On the whole as fuel instead of petrol or natural gas. The oil has not been robust growth, oils itself does not have became a greater by the oil firm, and all this because it required to run vehicles and machines. The next will be Dry Cleaning. This industry was a growth with luxury outlook. Once upon a time, try to fancy that it is finally can get them in safely and easily to be cleaning. The boom was on. After thirty years the boom is begin and the industry is in difficulty with competition. The competition is not with related any new technique for a better cleaning, it has come with synthetic fibers and the chemical additives so both of this are resulted cut down the need of dry cleaning. The industrial market is the latest present invention and business-oriented services, but it faces a number of outdated shadows, because of new inventions in which make this industry even more useless to the clients. Clients with a new and optimal substitutes order to meet their needs (Jahidur Rahim, 2014).
In addition, it would be electric Utilities. This was also one of those ordinarily which is ‘no substitute’ products that had been throne base of invincible growth. Power industry continues to boom as wax luxury home is converted into electrical gizmos museum. Electric utility industry has also confront the same issue in the use and production with its new and dynamic change. By that changing of time, electric utilities is also changing very quickly, with the whole changing clients accustomed to using the new and handy utility. The result is a particular product oriented companies are faced with the outdated state. Grocery Store industries which is known in the case is ‘corner grocery store’. In this supermarket has been took over a strong potency. The large big food chains in 1930’s narrowly had escaped aggressive the expansion independent supermarket was completely perished.
The first pure supermarket was start business on 1930 in Jamaica long island. 1933 supermarket were flourish in Pennsylvania, California Ohio and so on. Yet, When performed a large chain announced that he discovered ‘the difficult to believe the people will drive kilometers to a food store and sacrifice personalized service chain has improved, consumers are used to Mrs. Consumer’. When 1936 late, Wholesale and retail grocery markets nationwide Association of Convention and New Jersey said there is nothing to fear. For introduction of the new super chain stores and super markets, the grocery store where our neighbors are also likely to face a loss of business. For the first time grocery store shopkeeper believes that these supermarkets are not in their competitive, not originated from their market but they were actually wrong.
4.0 Modern Industry Area
Some of industries were acting myopically. The global petroleum industry is generally defined to consist of oil exploration, refining, transportation (oil tankers and pipelines), extraction and the sale of petroleum products. With extensive of the products in the industry, including: crude oil and other derivative products associated known as petroleum products, and products for use in the petrochemical industry. Industry classification was distributed into five sectors which are upstream, downstream, ships, pipeline, supplies as well as services (Kakada, 2014). The global petroleum industry can drive majority aptly described as the engine of economic development in the world. On the internationally market nowadays, the most remarkable commodities trading is crude. And more than a century, crude oil has always been world’s main energy source. Petroleum industry already described as the most periodic activities and offers exceed 70 percent of global energy demand (Unknown, 2014).
Place a vibrant business environment in worldwide, there have been no changes in the structure of the industry and organizations such as the oil and gas industry has witnessed. From the world today, operating under the influence of significant changes in the structure and organization of the occurrence of the industry is called, and the most noteworthy is that this is balancing among demand and supply of the products. This is particularly in the recent past has become the most extensive decision-making tools and also the trend rest of rising prices for products of strategic planning. In short, on the significant industry changes during the past half-century stand for a new system of marketing of crude oil, exploration and developed state-owned enterprises in the oil-producing countries, the OPEC formation consolidated and acquisitions of the nationalization, and entry the new company.
The Industry like any others Industry which has shaped its operating instructions and specific characteristics. From the limited supply of the products in the industry, because it has a non-renewable resource. Although the formation of fossil oil are known, but not in the global scale buried fossil does have each ground have oil. It might sound contradictory, but it is still a fact. Therefore, great value were placed on oil whether of the location it is be found or known to exist, that means oil products extracted still yet to be extracted by that ground is deem to be as similar economic value.
Exploration, production, refining and oil resources over the past have been driven transport two forms of investment in the system. The first is related to transnational cartel system, followed by foreign companies. However, in two systems, the main driving force is the oil concession under its control, which means that even when resources that belong to the ability of the host country, However control of the concession rights have been transferred to those company’s status. The system has the majority of time in this century, and the second world war played a significant impact the activities within the industry. The unique features of this system is the supreme power or right is giving the company to explore, extract and export of petroleum to limit any other investors produce any competitive advantage.
In addition, the system allows whoever has the overall control of the concession investments in the host country for the development, the number of natural areas and the right to choose the location of production levels, production facilities, exploration and the transportation Capacity. In theory, this sounds great, but this is not made clear how the state of tax collection and utilization of resources, any tangible contribution to the static role. This makes authorized role of the state, additional dependent, and not as dependent on the concessionaire.
The relationship between the state and enterprises level became fiscal. In the long term, the company focused on their profit margins will be under no obligation to meet any state of social economic and political neither the host or nor the requirements of the development the petroleum sector. This system in of a wider perspective, the implication is that the investment decision-making and analysis of the scheme, just consider the world economy. In a simplified manner, petroleum sector is isolated from other departments in order to develop what would improve under what oil companies to host an economic background.
5.0Personal contribution and group dynamic
There are certain true in saying goes two heads are better than one. In order to ensure this task and promptly and completed successfully the progress of this task, myself and my honorable colleagues to work together tightly, burning the midnight candles, and make investigations visiting in several local such as public libraries, the school libraries to procurement a reference for this task. But sometimes I was wrote down some records of important parts for what our lecturer in lecturing us on since I might not catch up or missed out some significant parts on this task, therefore I would try to putting more effort on it and I and my group mates usually stay back in college after classes to study more. We attempt as much as possible and meet our instructors and seniors to help us in certain areas the difficulties to clear our worries and confusion. Before we started this report, we were divided the work of made a presentation in order to helps each other understand more. I with my teammates conduce to the first question, it is to determine the sales as a business observation and Levitt (1960) perceived problems.
We were paid a visit to meet each of our group members 2 times a week for this task and the spending hours probably as 1 hour and 40 minutes for every single meet up. In others time, we were discuss via social media such as emailing or have a phone call. Another group of our classmates were contributed on question no 2 which is be show on how the thinking (and practice) has been influence on since then- supported commentaries to the initial article (starting with Levitt’s own updated thinking)while another of the last group were contributed on question no 3 which we were asked to take one business space (which can be one originally checked out by Levitt (1960), or another of your choice) verify whether or not you think it’s currently acting myopically, giving your reasons (evidence!) for your views.
Due the hard work and cooperation I had been obtain such a success at the same time learning to work along with my team and got a lot of opinion and put those meaning into the assignment. But also learned more regarding about how to deal or how to well manage a business, with the most important thing to be even more understand is customer-oriented than product-oriented of its only we would exactly comprehend the client needs and wants. My own idea due to his literary works is that Levitt is a visionary because most of the subjects he underlined in 1960 regarding train, Hollywood and petroleum industry turned out to be right many years after. “It was a very well to start regarding the marketing knowledge’s.
To conclude this task, marketing myopia is a very important and also a broad topic that needs to be solved in so many aspect, by trying to remove the short sightedness that a lot of businesses has been suffered and undergo during the presence. And there are a lot of marketing opportunities that had been ignored or neglected since most of the businesses did not watch or project or plan for the good prospect of their business, why? because of them having a short sighted. When businesses that are having a short sighted would suffered in the long run while since that there business does not meet up to their clients demand and the services and resulted in having a poor clients services they were being forced to shut down.