Marketing Myopia Is Killing Businesses

How your marketing decisions impact your business

Photo by Markus Spiske from Pexels

Many entrepreneurs or business owners make the mistake to focus on the short-term goals and vision when it comes to marketing strategies.

The term “marketing myopia” was invented in the '60s by Theodor Levitt in an article written for the Harvard Business Review.

It described companies who chose to focus on the buyer´s perspective instead of the customer needs.

At this stage, businesses tend to make huge decisional mistakes that often result in the crumbling of the company.

1. When does it manifest

Photo by Andrea Piacquadio from Pexels

Marketing myopia is more common than we think when we start reading statistics. More than 75% of products launched every year end up failing.

Although some mistakes can be attributed to the production side of the business, most of the failures are strongly linked to a lack of understanding of the customer needs and a focus on the selling part.

Here are the most common mistakes that companies tend to make:

• The primary focus is on growth and numbers rather than customer pain points and desires
• Non-adaptive to technological shifts
• Lack of challenging competitors
• Marketing department non included in strategical decisions
• Not griefing losses and believing in unattainable fantasies
• Failure to communicate the company´s vision
• The non-agile product design process

2. How to fix

Photo by Pixabay from Pexels

If you noticed that you or one of your clients don´t hesitate to step and propose or design solutions that may help them prosper and grow in the long term