Marketing Myopia

Marketing Myopia by Theodore Levitt

Presented by: Dipesh Monish Roma Sachin Swapnil Vijeta

Marketing Myopia • Marketing Myopia is described as a firm’s shortsightedness or narrowness when it is attempting to define its business. • Businesses will do better if they concentrate on satisfying customer’s needs rather than on selling products.

EXAMPLES: Fair and Handsome o Fair and Handsome is a brand that created the Men's fairness cream segment in India. Launched in 2005, the brand became the creator and the market leader of this segment. Emami was looking for ways to challenge the Fair & Lovely brand from HUL. o After two years of launch, Fair and Handsome is worth Rs 45 Crore now commanding a market share of over 30-40% in this segment. o Emami has moved aggressively to promote Fair and Handsome by roping in Bollywood icon ShahRukh Khan as its brand ambassador.

Titan •

Titan has come out with a new campaign for its thinnest watch Edge.The ad features its brand ambassador Aamir Khan.

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Edge is positioned as World's Thinnest watch. With a thickness of 3.5 mm, Edge is priced between Rs6000 and Rs.12000. The brand is targeting Business Executives and professionals. According to a report from Television.com, EDGE has so far sold over 75000 watches in 2006 with a brand sales of over Rs 42 crore .

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EDGE takes the tagline "More Attention that You can Handle". It is true also, since the watch is definitely going to catch attention and the thin watch will not miss your eye.

Railroads • Fastest, cheapest and reliable mode of transport in those days. • Advance Technology. • They expanded their service area and not the means (such as transport by Bus, Cars or Airline). • They believed that growth is assured by an expanding and more affluent population. • The top management failed to recognize its business as transportation business.

Petroleum • Pioneered the oil resource exploration. • Possessed advance technology and know-how. • Enjoyed confidence of sophisticated investors. • Financial control, Production research and Management training.

Petroleum

• Confined itself to the technology of oil exploration, oil production, and oil refining. • Didn’t think of alternatives (natural gas). • Considering it as a generic product but failed to realize it’s a supportive product. • It improved the techniques of production and not the product. Complacency and wrong headedness can stubbornly convert opportunity into near disaster

Grocery Stores • The oldest form of retail stores that catered to the needs of customers. • Chain of stores that were easily accessible and were referred to “corner store”. • New generation of super stores started entering in market. They provided customers with variety of products. • Grocery stores owner believed that they were unaffected.

Grocery Stores • Reduced their cost. • Co-operated with the suppliers. • Paid attention to the customers. • Improved their service. • Kept their pride but lost their shirts.

Photography

What companies need to do to overcome Marketing Myopia

• Broadly define your firm and industry. • Monitor other industries and be aware of their marketing strategies. • Recruit marketing people and have brainstorming sessions between these new and existing managers to yield new strategies. • Be flexible enough to apply unique solutions to the problems.

Thank You