Marketing Myopia is focused on selling products or services rather than focusing on what customers want or need.
In 1960, the term Marketing Myopia was introduced by Theodore Levitt, in his article published in Harvard Business Review (HBR). The narrow focus and not paying enough attention to the needs and wants of customers can lead to a lack of innovation, declining sales, and even business failures. Every prime industry was once a growth industry. Do you know that in digital age marketing mix products or services is all about co-creation.
Understanding customer needs
The essence of Marketing Myopia is that businesses need to think beyond their products and services and take into account the wider needs of their customers. This requires that they understand their customer’s preferences, behaviors, and motivations as well as use this information to create products and services which meet these needs.
Marketing Myopia Examples in Pakistan:
Pakistan Railways: Pakistan Railways is a prime example of Marketing Myopia. The railway service is focused solely on its trains and tracks rather than the convenience and comfort of its passengers. The company has failed to address the changing needs of its customers and provide them with better services.
Nokia: Once a leading mobile phone company in Pakistan, Nokia failed to keep up with the changing technology and customer preferences. The company was too focused on its feature phones and ignored the rising demand for smartphones. This led to a decline in Nokia’s market share in Pakistan.
K Electric: K Electric is the sole power supplier in Karachi, Pakistan’s largest city. The company has been criticized for its poor customer service and frequent power outages. K Electric is too focused on its profits and fails to invest in new infrastructure and technologies to provide better services to its customers.
Pakistan International Airlines (PIA): PIA, the national flag carrier of Pakistan, is another example of Marketing Myopia. The airline has been criticized for its poor customer service, outdated aircraft, and safety concerns. PIA is too focused on its existing operations and fails to invest in new technologies and customer experience.
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