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Marketing Myopia

Marketing Myopia. Presented By Ngan Nguyen Wangjung Lee Zhouyang Lu. Theodore Levitt. Author of the article Professor at the Harvard Published six books Died at 81. Introduction. Marketing Myopia Growth Industry The main mission of the business

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Marketing Myopia

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  1. Marketing Myopia Presented By Ngan Nguyen Wangjung Lee Zhouyang Lu

  2. Theodore Levitt • Author of the article • Professor at the Harvard • Published six books • Died at 81

  3. Introduction • Marketing Myopia • Growth Industry • The main mission of the business • What causes growth industry slow down? • Who is in charge of the failure?

  4. Example of failure companies • Railroad Company • Product Oriented VS. Customer Oriented • Hollywood

  5. Successful companies • DuPonts • Cornings • Kaiser Aluminum & Chemical • Reynolds Metal Company • Why?

  6. Shadow of Obsolescence • “No Substitute” Industry? • Dry Cleaning • Electric Utilities • Grocery Stores

  7. Self Deceiving Cycle • Population myth • Belief in no competition • Mass production • Decline unit costs • Belief in product orientation

  8. Population Myth • Assurance of profits by expanding population • Thinking Moment • Example of John D. Rockefeller • “Tetraethyl lead”

  9. Petroleum Company • What is the industry’s effort? • The idea of Indispensability • Uncertain Future

  10. Production Pressure • Mass Production • Great pressure to move the product • Marketing • Needs of buyers customer satisfaction • Lag in Detroit • Ford • $ 500 cars • Product Provincialism • Oil Companies • Creative Destruction

  11. Dangers of R&D • Marketing Shortchanged • Electronic companies • Too much attention to R&D • Heavy emphasis on technical research • Guaranteed market of military subsidies • Stepchild Treatment • No dedicated attention to marketing • Beginning & End • Delivery of customer satisfaction • Creating things • Finding raw materials

  12. Conclusion • Visceral Feel of Greatness Managements: • Provide customer-creating value satisfaction • Make the whole organization aware of that idea • Know where to go

  13. Retrospective Commentary • Common Consequence • Strategic Consequence

  14. “Policy” results of “Marketing Myopia” • R&D departments • Upper management • Finance departments • Trained salesmen

  15. A Reflection of A Company’s Business More impact in industrial-products companies than consumer-product companies: • Capital intensive business • Product orientation

  16. Not a prescription, but a manifesto • Focus more on the inner orbit of business policy • A way of thinking • Supervisors are responsible for this manifesto

  17. Discussion Questions • 1. “There is no such thing as growth industry, what we have is growth opportunities”---explain. • 2. What is “creative destruction?” How does it relate to the Strategy of a company? • 3. Ford created a car with no custom options that was only available in black, but sold for $500. Why would he be considered “both the most brilliant and the most senseless marketer” in American History?

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