Literature Review on Marketing Myopia

The corporate identity is not merely the “the most important reason or purpose for someone or somethings existence.” (Webster, 1828) Paul Verbinnen coined the phrase as “intrinsic identity.” (Doorley & Garcia, 2015) The intrinsic identity of a company is what the company stands for and what they wish to portray to the public about themselves. If the company has a good idea of what the corporation’s intrinsic identity is, they can build on their performance, behaviour and communication and therefore increase their reputation.

Overview of contemporary marketing, emphasizing the management of the product/service, price, promotion and distribution areas of an organization within a changing environment.

Organizations must carefully invest in changing technologies to earn a profit. It is hard to estimate the technical success of a product and its market success. It is necessary that organizations recognize opportunities and threats, and generate moves that can facilitate successful commercialization. It is impossible to predict what will happen next in the market, so organizations must carefully invest and should be prepared for both the positive and negative outcomes as well as some surprises. To foresee the future and manage uncertainty organizations follow certain frameworks like following trends, relying on an expert’s opinion, conducting industrial analysis, searching for analogies from the past and constructing scenarios. All these frameworks rely on the past patterns and the present market conditions to analyze the future, but its certain that past does not fully reproduce itself in the future. These frameworks also help us to compare the events in the past to the events in future

According to her, marketing helping companies build a formal brand of a company which will lead consumers to get use to the company and build a good relationship with it. During the late 19th and early 20th century, the main focus was on advertising new products, and because of mass production, companies would create similar products resulting in companies competing for consumers. Furthermore, she discusses that the concept of branding had be relevant in the early 1880, and nowadays selling an image or lifestyle is crucial for a firm (2000). Though Klein backs up her claim by using exams from the mid and late 20th century, they are still very relevant today. Branding is much more important than advertising. No longer are advertisements found allover the place, instead if a consumer knows a brand, they are more likely to remain faithful to that brand. Brands still create familiarity and emotional ties between consumers and companies. Overall, it is evident that the brand is more important than the product (Klein,

The notion of "marketing myopia" has haunted marketers since Theodore Levitt published his famous article "Marketing Myopia" in Harvard Business Review in 1960. Levitt argues that companies which narrowly focus on the product to the detriment of customer requirements (i.e., dispensing with the marketing concept) suffer from marketing myopia. Myopia or shortsightedness is often apparent within organizations. Several types of marketing myopia can be identified including classic myopia, competitive myopia and efficiency myopia. Companies displaying one of these three elements are clearly distinguishable from innovative firms which embrace the marketing concept in practice and which have a much broader scope than is

This paper explores the interaction between brand orientation and market orientation. Brand orientation is an inside-out, identity-driven approach that sees brands as a hub for an organization and its strategy.

“Real corporate identity…is about behavior as much as appearance, and certainly about reality, as much as symbolism. Wherever behavior and appearance are linked, real corporate identity emerges.” There are said to be five identities of a company 1. The actual identity that encompasses the actual defining characteristics of the corporation, 2. Communicated identity – this involves the part of a company’s identity that is revealed using controllable corporate communication, 3. Conceived identity is the third type of identity and refers to the perceived corporate image held by relevant stakeholders, 4. Ideal identity – this is the best positioning of the organization in a given timeframe and finally is 5. The desired identity which is the corporate leaders’ vision for the organization. Having these different identities without proper alignment can create discord among these different areas and can weaken a company.

When developing a company identity you want a strong solid one that adds to your credibility with customers giving them a sense of trust and reliability. They know what you do and do well giving them a feeling of ease. They will come to trust in your strength and business.

The fact is, marketing is changing, the way people doing business today is different, as the author says, those who don’t change their marketing strategies to meet the need of today’s consumer are not targeting for them at all.

A question you may ask yourself if looking to join a company, or you might already be with a network marketing company and curious about the future of the industry you are in.

In order to respond most effectively and efficiently to changing world, marketers must have a clear understanding and accurate picture of the directions those changes are taking. Such a picture cannot emerge without a consideration of the evolving nature of business and consumers. The emergence of both enormous technological advances and excessive supply make the prediction of what will happen in the next few years to business in general and the

Postmodernity has changed the way that advertising works, this has altered the sociological structure of branding. Branding is about building a relationship with customers to change their psychological view of their business. If a brand is produced and executed properly they are very powerful, a brand can carry a spiritual passion that attracts and glues a group of people in the community. A brand like this builds a relationship and culture with its customers, but when society views changed from modernism to postmodernism this shook the structure of brand identity. There was a shift in the demographics of their customers, instead of a company just being a business that customers buy from, the customers have become “stakeholders” in the

 Marketing Myopia suggests that businesses will do better in the end if they concentrate on meeting customers’ needs rather than on selling products. The mistake of paying more attention to products a company offers than to the benefits and experiences produced by these products.

There are many revelations that I have experienced from this course about how organizational identity and identification practices or employee branding have affected my ability to construct and maintain a coherent, marketable personal identity. Many of these branding revelations I have experienced were from the new social contract with my current employer which is known as Motlow State Community College. Motlow State Community College identifies the influence by organizational identities and brands. They do this by showing students, their actual branding strategies such as the Motlow bookstore for example.

Nowadays, Marketing Teams need to be more flexible and take rapid decision and Annual Marketing Strategic Planning is often a challenge. The pace of technology and