Peer Response – 1 I find it almost impossible to argue that the concept of a marketing myopia isn’t alive today. With an understanding that companies still struggle and fail with products, it is rare to not see a dysfunction which involves shortsightedness on behalf of either the selling or marketing teams. If a product fails this will stem either from a failure to properly predict your customer’s needs, or a failure to effectively produce a product worth the customers money. Since product development usually begins with an inventor’s passion to create and perfect their product, it is logical to assume that a majority of these failures begin as the creator loses sight of how their creation will be received by others. For example, my wife and I love watching Shark Tank. On Shark Tank hopeful entrepreneurs come with their original products to attempt to receive investments and grow their business. Unfortunately, for a fair share of these entrepreneurs, they do not receive investments. Rarely is the problem the quality of the product or the person’s passion to sell it; but it’s that the product just wouldn’t sell. The sharks often have to break the news to entrepreneurs that there is not much of a following to be made with potential customers, and for that reason “they’re out.” This is a classic, and frequent, example of marketing myopia. These entrepreneurs failed to understand the needs of the customer. Likewise, there are many professional examples of marketing myopia both past and recent. Perhaps one of the largest examples if the railroad company (Gallo 2016). Railroads used to be the dominant form of transportation, but as the economy evolved, the rail road companies failed to. They saw themselves as strictly a rail road company, and not a transportation company, which prevented them from capitalizing as the opportunity for cars, buses, and airplanes arose (Gallo 2016). As we move into the digital age we see examples like Nokia, the Walkman, and Kodak (Ultimate Guide 2017). As Nokia dismissed the need to join the smartphone market, Sony Walkman didn’t recognize the benefits of the iPod, and Kodak ignored the switch to digital photography, these companies began a decline with devastating effects (Ultimate Guide 2017). Each of these examples is living proof that marketing myopia is a truly valid concept in today’s market. Peer Response – 2 Marketing Myopia, first expressed in an article by Theodore Levitt in Harvard Business Review, is an inward looking approach to marketing which focuses on fulfillment of immediate needs of the company rather than focusing on marketing from consumers’ point of view. The new Marketing Myopia viewpoint doesn't seem to be as focused on the customer, rather it seems focused on the stakeholders. The New Marketing Myopia, according to Smtih, Drumwright, and Gentile (2009), "stems from three related phenomena: 1) a single-minded focus on the customer to the exclusion of other stakeholders; 2) an overly narrow definition of the customer and his/her needs; and 3) a failure to recognize the changed societal context of business that necessitates addressing multiple stakeholders. [they] illustrate these phenomena and then offer a vision of marketing management as an activity that engages multiple stakeholders in value creation, suggesting that marketing can bring a particular expertise to bear. [They] offer five propositions for practice that would help marketers correct the myopia: 1) map the company’s stakeholders, 2) determine stakeholder salience, 3) research stakeholder issues and expectations and measure impact, 4) engage with stakeholders, and 5) embed a stakeholder orientation". I certainly believe that marketing myopia occurs more often than not in today’s business world. Organizations frequently worry about the product, and how to make it better without asking the customer. I'm not sure that I would agree with the new Marketing Myopia and that the stakeholder rather than the customer should be considered priority. In my own organization I’ve sat around the table asking the simple question- “but, have we asked the customer?” The "I know best" mentality at the table of folks who are never in front of the actual customer is frustrating to say the least. I believe that many companies “think” they know what the customers want, but how often do they truly ask? I would say this goes for not only a product company but a service company as well. If your product is a service, and you are doing more and more for your customer- perhaps the end result is simple aggravation and you are bothering them too much. Your “service” and initiative to do more for a customer is a good though, but what if the customer simply wants easier, not more? When we focus more on sales than on marketing and knowing about the consumers’ needs, that’s when marketing myopia strikes in. Examples, of marketing myopia according to Pawha (October, 2017), are: • • • • • Company more focused on selling rather than building relationships with the customers Predicting growth without conducting proper research. Mass production without knowing the demand. Giving importance to just one aspect of the marketing attributes without focusing on what customer actually wants Not changing with the dynamic consumer environment For a third consideration, I might explore specific branding as an option. Although similar and an important aspect of marketing developing a specific branding for your company may pose to be a positive consideration when exploring marketing options. Perhaps the branding message is customer focus rather than product focused. 
Purchase answer to see full attachment