[Marketing Concepts]Marketing myopia

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Marketing Myopia is a marketing term that is used to denote the way the marketers fail to understand what the customer want in the short and long term. The term was first coined by Theodore Levitt in his paper published in 1960 in Harvard Business Review.  According to economic theory consumers will tell the marketers what product or service they want through economic behavior. But if a company fails to understand the behavior and focus on as what the company can produce rather than what customers want can be said that company is under marketing myopia.

A classic example of marketing myopia is Vicco turmeric brand. Vicco can be the considered to be the first fairness cream in India.  The brand targeted women who are about to marry  in 80’s . However, the company failed to understand the changing tastes and lifestyle needs of Indian women with time. They continued with their conventional marketing focusing on the theme marriage while other brands realized the changing  target group ad positioned themselves accordingly.

Learn more about marketing myopia.

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