marketing myopia

Term of the Day

A short-sighted and inward looking approach to marketing that focuses on the needs of the company instead of defining the company and its products in terms of the customers‘ needs and wants. It results in the failure to see and adjust to the rapid changes in their markets.</p> <p>The concept of marketing myopia was discussed in an article (titled "Marketing Myopia," in July-August 1960 issue of the <i>Harvard Business Review</i>) by Harvard Business School emeritus professor of marketing, Theodore C. Levitt (1925-2006), who suggests that companies get trapped in this situation because they omit to ask the vital question, "What business are we in?"

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