Free Sample: Summary Marketing Myopia by Theodore Levitt paper example for writing essay

Summary Marketing Myopia by Theodore Levitt - Essay Example

Preoccupation with a product that lends itself to carefully controlled scientific experimentation, improvement, and manufacturing cost reduction. 1,2,3. Looking for mass production is selling, not marketing. “The marketing effort is still viewed as a necessary consequence of the product – not vice versa, as It should be. That Is the legacy of mass production, with Its parochial view that profit resides essentially In low-cost full production” The real legacy of Henry Ford is that when he decided to educe the price of his cars to $500 he made the best marketing strategy of his time.

Mass production obviously had a place in the plan but it followed a hard thinking about the customer. “Actually, he invented the assembly line because he had concluded that at $500 he could sell millions of cars. Mass production was the result, not the cause, of his low prices. “Selling focuses on the needs of the seller, marketing on the needs of the buyer: Selling consists of tricks and techniques focusing on the seller’s need to convert the product into cash.

Marketing is dedicated to the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering, and, finally, consuming it. ” Question: In what extend an industry can change is production model to another? In other words, can a petroleum company can become a solar or electric company? 4. In one hand, while regarding the petroleum Industry through the eyes of customers, customers do not buy gasoline for its taste, color or smell at the gas station, they buy the right to drive their cars.

So answering customer needs would be giving them the right to drive their cars definitively. So the future of petroleum is a fuel that eliminates the need of frequent refueling. The future of any product is not a more technological one, but a product that satisfies a powerful customer need. Sometimes, this process can carry out companies to destroy their more profitable assets to survive at long any growth industry: “product provincialism. ” On the other hand, paying too much attention to research and development is the danger of electronic companies.

They are growing with the illusion that a superior product will sell itself because they have created a successful product. Other problems are: 1 . Too many engineers and scientists in the management board because of too complex and sophisticated products 2. As it is difficult to get controllable and concrete variables of customers needs, engineers and scientists tend to see customers as unpredictable, varied, fickle, stupid, short sighted, stubborn, and bothersome people.