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MarketingMyopia
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• What is Marketing Myopia
Shortsightedness of a business
Which means it mainly focuses on business needs rather than customer
needs and wants. This is a failure in Management ¥2
• Why Marketing Myopia exists
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Shadow of the past
Focusing on that one product and not the changing world.
E.g.: Video Cassette Player - Replaced by DVD therefore deck is an obsolete product.
Type writers replaced by the computers.
Industry Cycle- An industry which is in the growth stage must also predict that they will have a decline stage.
E.g.: Dialog- It did experience the declining stage but successfully regained its position.
Hutch- Is in the declining stage and Sangakkara moved to Airtel
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•Population Myth•This means that firms believe that more you expand and reach a higher population the more the business would grow.•E.g.: FMC Goods- it is available to every one but yet one product only has a smaller market share.
•Product focused
•Focusing on the product efficiency rather than on Marketing.•E.g.: Automobile industry rapidly increasing its features and efficiency but not market requirements. They will have to move out when Hybrid Vehicles come. ¥2
Idea of “We are the
best” no
competition.
E.g.. Gas industry.
In time to come
instead of Gas people will start
using only electricity to
prepare their meals
which would be more cost
effective.
Laugh Gas came in to
the industry and shell
gas lost part of its market
share.
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Uncertain FutureSome do not concentrate on the future of the products.
E.g.: Carbonated drinks might move out of the market giving room for natural drinks.
Herbal products might dominate the market in future since people are more health conscience lately.
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Trapped in the
trap of Mass
Production
E.g.: Sim cards of telephones. They make these available every where even in the
smallest shop, which might highly damage the brand
image.
Making the product
available everywhere
would damage the company image.
“Rather than being
everything to every one it is better to
be something to some one”
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Product oriented and not Market oriented
E.g.: In USA a manufacturer of dog biscuits produced Ice cream for dogs. Well dogs loved it but not the owners. Owners wanted their dogs to be satisfied merely by eating up what is
remained.
Motorola, Voda phones- They try inventing new features into their mobile phoned with a lower price, but what the market
wants is standard quality features and Nokia has dominated in it so far.
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Dangers in Research and development
Research and development is essential for a firm but it should focus on customer needs.
Research merely on technical product development will cause damages.
E.g.: New coca cola was introduced with a sweeter taste compared to the classic coke. But it failed in the market. Later they got to know that people loved coca cola for its unique taste. That’s the attitude of the customer that a researcher cannot change. ¥2
Is too much R & D Good?
Once a company comes with a
new innovation gradually it
tends to focus more on the
product and not on the end user.
E.g.: Continues R & D has been
done before Airtel came to SL… But they did not give a
reason as to why other
connection users should use Airtel? Will they change only for the price? As yet
dialog and Mobitel is
dominating.
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“Rather than selling products, organizations need to buy customers while retaining their existing customers through satisfying their
changing needs”
“If not for the customer we wont
be in business, therefore customer should be the focal
point in all our business activities”
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Marketing Myopia
occurs mainly
due to the failure of
proper Managem
ent.
“Unless you know
where you head, any path will lead
you there”
“Do not look in the mirror, but
look out from a
window”
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Are you a Marketing Maniac now?
Too much of service
to the customer will make
them reluctant to switch
to the product because
most customers
do not want to
take a risk.
E.g.: Chine
se Phon
e mark
et.It has
all the
features
that a Nokia
3G phone offers but
people are reluctant to shift
cause it is good to be true and they do not
want to
take a risk.
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Henry Ford concentrated on the price and low cost only but not on the changing needs of customers.
Bill Gates founder of Microsoft, Michael Dell founder of Dell computers
People like Richard Branson the founder of Virgin Airways,
Otara Gunewardene, the innovator in Fashion industry are good examples for people who have successfully recognized customer changing needs.
Marketing Mania and Marketing
Myopia both will affect adversely.
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“To become a good fisherman you need to think like a FISH” ¥2
To be a successful organization, then think like your customer.
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Thank You
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