Marketing Myopia
Marketing is a combination of many different disciplines that are applied together in order to promote a product, service, or a company’s image. Marketing refers to the act by which an entity undertakes to identify its target audience, develop a relationship with them, create value for the customer in order to recoup the value at the end of the day. It involves extensive research and evaluation of various options as well as the implementation of strategies to reach the target audience. Marketing is also comprised of the promotion of products and services through media channels like print, television, and radio. This includes the creation of promotional literature, the creation and distribution of catalogues, advertising programs, and trade shows.
The development of marketing concepts and the implementation of successful marketing strategies require detailed study and assessment of the market, as well as an analysis of the organization’s internal processes. Market research and market surveys help identify the buying needs and behavior of the target audience. It is through this research that marketers learn about the purchasing preferences of customers, the purchasing behavior of customers, their preferences, and their buying decisions. Developing effective selling concepts, concept planning, and selling campaigns require social marketing management concepts and methods that are applicable to diverse organizations. In addition, it requires expertise in the application of various marketing tools like advertising, selling, and promoting.
Marketing myopia refers to the tendency of marketers to focus only on the technical aspects of the product concept, ignoring the social aspect. For instance, some marketers consider product concept alone while others neglect the psychological aspects as well. The product concept may be excellent, but it fails to address the psychological needs of consumers when they use the product. Consequently, they are not able to achieve the desired levels of success. Social marketing myopia refers to the tendency of marketers to only consider the technical aspects of a product concept, ignoring the social aspects.