What is Marketing Myopia and How to Avoid It?

The concept of marketing myopia was introduced in literature by Theodore Levitt in 1960. It refers to a situation where marketing managers fail to correctly analyze industry opportunities, threats, or weaknesses. Marketing myopia is often observed among brands that cannot detect trends or focus solely on the features of a product/service. Approaches to marketing that do not concentrate on consumer needs and expectations cannot sufficiently satisfy consumer motivation, which leads to negative consequences for the brand’s perception or economic metrics. If marketing managers cannot properly analyze this situation and do not take necessary actions, the problem known as marketing myopia arises. Considering that strategic mistakes are the main factor contributing to this condition, entrust the management of your brand to people educated and experienced in marketing.

To Avoid Marketing Myopia:

• Always be open to criticism and the identification of your mistakes.
• Offer values/solutions to consumers/people.
• If you’re not selling a highly niche product, remember that your product has alternatives or competitors.
• Don’t base your marketing strategy solely on product features.
• Don’t leave the results of your research (SWOT, etc.) only on paper. The opportunities you observe can genuinely offer valuable insights for your brand. Similarly, weaknesses and threats should be taken seriously and require improvement.
• Do not ignore new opportunities on platforms.
• Keep track of research and new product technologies.
• Don’t deceive yourself/your managers. Objectively describe the current situation.
• Never reject customer feedback.
• Be a good listener; think about how to uncover new opportunities and improve your current strategy.
• Finally, do not forget to monitor what your competitors are doing and what they are talking about.

Examples of Global Brands Prone to Marketing Myopia:

• Facit’s mechanical calculators lost leadership to Casio by ignoring the development of electronic products.
• Manufacturers of large and expensive cars in the USA continued to ignore Japanese vehicles and lost their market share.
• The Kodak and Fujifilm brands, known in the history of photography technology, failed to foresee the development of digital cameras and could not secure a place in the new digital camera market.