The main purpose of Marketing Myopia activities, which are vital to the success of companies, is to meet the needs of customers more effectively and efficiently than competitors.
What is Marketing Myopia?
As it can be understood from this main purpose, the starting point of marketing is the needs of people. Therefore, it is extremely important to determine the needs and desires of people correctly in order to develop effective marketing. It is not possible for the activity to be successful, since the value created by a Marketing Myopia activity, which will be developed without determining these points correctly, will be insufficient for the customer. Also, Read – B2B Lead Generation: How to get the right leads
However, in order for Marketing Myopia to achieve its purpose, it is not enough to determine the needs and wants correctly. In the understanding of modern business, marketing also includes creating products and services that will meet these determined wishes and needs. Marketing; It should also perform the activities of pricing, promotion, and delivery of these products and services to the needy in a competitive way. From a more general point of view, marketing is a special philosophy that aims to achieve the objectives of the organization as a result of determining the wants and needs of the target audience and offering the products and services that will meet these demands and needs more effectively and efficiently than the competitors. Also, Read – What is Private Health Insurance? How To Get Cheapest health
Product-oriented thinking in Marketing Myopia, which is seen from time to time in the marketing world and among marketing professionals, does not fit the above definition and contradicts the fundamentals of marketing. According to this idea, the more features the products have, the higher value will be created for the customer. Institutions and people with this view focus on improving the features of the product, putting aside the customer needs, which are the basis of marketing. However, the features added to a product will only be beneficial if it enables the customer’s needs to be met more effectively. Additional features of Marketing Myopia that are not related to the needs of the customers will only increase the cost and may have an adverse effect as they may make it difficult for the customer to use the product. This is the misconception that companies focus on the product by breaking away from the needs of the customers. Also, Read – What Are The Types of Private Health Insurance For Foreign Nationals?
The basis of Marketing Myopia is that businesses that cannot see from the customer’s perspective define their business areas and thus their competitors in a very narrow scope. Firms that fall into Marketing Myopia cannot actually analyze the external environment they are in and focus more on their own internal processes than they should. That is, the main reason for the emergence of marketing myopia is inadequate strategies that are not dynamic and are developed in a disconnected manner from the market.
Examples of Marketing Myopia from the market
For example, an airline company that defines its business as “aviation” and tries to serve only with more advanced aircraft than other airlines or tries to gain strategic advantage by improving in-flight services is a very clear example of Marketing Myopia. The business areas of airline companies are “transportation”. Therefore, they compete not only with other airlines but also with companies in other transportation sectors. They also need to develop their marketing strategies by taking into account the entire transport sector, including land, air, sea, and rail. Because the basic need of customers; is the movement of persons or goods from one place to another. For the customer, it is more important how this relocation will be done effectively and efficiently, rather than the method by which it will be done.
Marketing Myopia Examples 2
Another example of Marketing Myopia can be given from the film industry. In short, some companies in the American film industry, called Hollywood, limited their business areas only to the film industry and entered into competition with companies in the film industry. As such, the producer company focuses on the motion picture produced and aims to maximize the film produced with superior visual effects or higher acting. However, a large percentage of the target audience of these producers is actually the audience who just want to go to the movies and have a good time. For this reason, the main business area of the producers should be the “entertainment” sector. Therefore, its rivals are theaters, musicals, circuses, television series, sports events, concerts, nightclubs, concerts, as well as other filmmakers. even thematic amusement parks should be places where people have fun and have a good time. If we think like this, right Marketing Myopia; In addition to the high quality of the product, it is a process that needs to be considered in detail, extending from the movie theater where the customer will be welcomed to the services to be offered to the audience while watching the movie, and even to by-products such as toys and costumes that can be physically marketed due to the movie.
As the companies falling into the Marketing Myopia will not be able to satisfy the customers sufficiently and cause disappointment, they will also negatively affect the image of their brands. For this reason, Marketing Myopia is a sensitive point in terms of brand management, which will be the subject of another article, and it is an indication that the understanding that reduces brand management to only “communication” is wrong.