The production concept and product concept are orientations that can lead to marketing myopia
Armstrong;Marketing,Fifth Canadian EditionTest Item File110.The major difference between customer-driving marketing and customer-driven marketingis that the customer-driving marketing considers only existing needs.Difficulty:2QuestionID:01-110Page-Reference:12Skill:ApplicationObjective:1-3 Show
Get answer to your question and much more 111.The societal marketing concept calls on marketers to balance consumer wants and desires,company profits, and society's interest.aTruebFalseAnswer:a. TrueDifficulty:2QuestionID:01-111Page-Reference:12Skill:ConceptObjective:1-3 112.Product, price, place, and promotion make up the elements of a firm's marketing mix.Difficulty:1QuestionID:01-112Page-Reference:14Skill:ConceptObjective:1-4 Get answer to your question and much more 113.In its broadest sense, customer relationship management (CRM) is a customer datamanagement activity.Difficulty:2QuestionID:01-113Page-Reference:14Skill:ConceptObjective:1-4 Get answer to your question and much more Marketing Myopia, first expressed in an article by Theodore Levitt in Harvard Business Review, is a short-sighted and inward-looking approach to marketing that focuses on fulfilment of immediate needs of the company rather than focusing on marketing from consumers’ point of view. When a company focuses more on sales than on marketing or consumers’ needs, that’s when marketing myopia strikes in. Marketing myopia is a situation when a company has a narrow-minded marketing approach and it focuses mainly on only one aspect out of many possible marketing attributes. A brand focusing on the development of high-quality products for customers who disregard quality and only focus on the price is a classic example of marketing myopia. When Does Marketing Myopia Strike In?Marketing myopia strikes in when the short term marketing goals are given more importance than the long term goals. Some examples are:
Self-Deceiving CycleGrowth is never assured. The business environment is everchanging and so should be a business. Businesses that don’t assess their own capabilities, competitors, customers’ needs, and changing trends, always tend to get trapped in a self-deceiving cycle. Conditions That Lead To The Self-Deceiving Cycle
Step-Child TreatmentBusinesses often treat their product as their own child and customers’ needs as a stepchild. This result in spending most of the resources in the development of their product and the remaining (less or no) resources on conducting research and marketing. This backfires on the businesses as the stepchild always turn out to be the Cinderella of the story. Examples Of Marketing MyopiaHere are some companies that are suffering from or have suffered from marketing myopia
Marketing Myopia in future
Go On, Tell Us What You Think!Did we miss something? Come on! Tell us what you think of marketing myopia in the comment section. A startup consultant, digital marketer, traveller, and philomath. Aashish has worked with over 20 startups and successfully helped them ideate, raise money, and succeed. When not working, he can be found hiking, camping, and stargazing. What is Marketing Myopia? Definition and Examples by Aashish Pahwa Which concept can lead to marketing myopia?Marketing Myopia, first expressed in an article by Theodore Levitt in Harvard Business Review, is a short-sighted and inward-looking approach to marketing that focuses on fulfilment of immediate needs of the company rather than focusing on marketing from consumers' point of view.
What is product and production concept in marketing?Meaning. Product Concept is a marketing philosophy which assumes that customers admire quality-rich products, with advanced features. Production Concept is an approach which believes that customers are willing to buy the products which are easily available at low prices.
What is production concept in marketing concept?The Production Concept.
This concept is the oldest of the concepts in business. It holds that consumers will prefer products that are widely available and inexpensive. Managers focusing on this concept concentrate on achieving high production efficiency, low costs, and mass distribution.
How is the marketing concept different from production concept?The marketing concept focuses on a firm evaluating the needs of the market, or consumers, and meeting consumers needs better than the competition. The production concept is based on putting goods and services into the market in large quantities and are relatively inexpensive.
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