Marketing Myopia Essay

3675 WordsFeb 5, 201415 Pages
From Ted Levitt’s “Marketing Myopia” article, the main marketing theme that was how important marketing is for long-term survival of a firm and how marketing shapes what the firm does. He starts with the premise that there is no growth industry, just growth opportunities that firms can capitalize on. Marketing is crucial in order for firms to be able to capitalize on these growth opport¬¬¬unities. Mr. Levitt differentiates between marketing and selling, so as not to get the reader confused with their own perception or stereotype of what marketing is. He writes, “Selling is focused on the needs of the seller, marketing on the need of the buyer. Seller is preoccupied with the seller’s need to convert product into cash, marketing with the idea of satisfying the needs of customer by means of product and the whole cluster of things associated with creating, delivering, and, finally, consuming it” (Levitt pg.143). This way of thinking about marketing leads to a change in organization and how it does their business that can have significant impact on the firm’s future prospects. The idea of marketing being a way for firms to figure out customer needs also helps them escape the boom and decay cycle because it makes them avoid thinking of their industry too narrowly. Levitt describes industry such as the railroad that went from growth to stagnation because they viewed themselves to narrowly. Firms can avoid this by using marketing as a way to find the customer needs and than figuring out a how to satisfy it. As Levitt sees it “An industry begins with customer and his or her needs, not with a patent, raw material, or a selling skill” (Levitt pg. 148). By seeing marketing as a way of satisfying the customer needs the firm will continue to change and adapt to the customer wants and need and therefore continue to prosper. Also, the marketing research needs to be properly

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