If you operate in the product place, you have probably come throughout the influential concepts of Theodore Levitt. A single of his well known rates states that prospects never purchase a quarter-inch drill they acquire a quarter-inch hole. Levitt’s reserve, ‘Marketing Myopia,’ printed in 1960, stays relevant even currently. It highlights the significance of constantly reassessing the marketplace and the merchandise provided in reaction to evolving client demands and emerging alternatives.
The ebook emphasizes concentrating on buyer demands somewhat than currently being fixated on the company’s creation system, generally referred to as a ‘feature factory’ right now. Advertising and marketing Myopia’ also provides beneficial insights, these as the origin of the expression ‘oil for the lamps of China.’ This expression signifies the concept that desire can be produced by inventing a dilemma that did not exist prior to, by means of the introduction of a further item. A long time afterwards, Steve Blank explained these phenomena in his e-book ‘Four Methods to the Epiphany’ by the concepts of marketplace and consumer improvement. Levitt’s investigation of Ford’s assembly line and mass generation is a further noteworthy aspect.
In summary, ‘Marketing Myopia’ is an excellent short article that I highly advise looking through. If you haven’t read it however, I hope my notes encourage you to do so (HBR has the entire model on the web for free). For those people who have currently read through it, I hope these notes spark new ideas and reflections