An Analysis of Theodore Levitt's Marketing Myopia
Seiten
2017
Macat International Limited (Verlag)
978-1-912127-33-7 (ISBN)
Macat International Limited (Verlag)
978-1-912127-33-7 (ISBN)
Recognizing that companies went bust when the market for their products dried up, Levitt set out to learn why. The manifesto he produced aimed to upend conventional wisdom that viewed a company’s product as paramount. Levitt saw the customer as central to the success of any business, and urged companies in every industry to look at their products from the customers’ point of view.
Theodore Levitt’s 1960 article “Marketing Myopia” is a business classic that earned its author the nickname “the father of modern marketing”. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life – in business and beyond.
The problem facing Levitt was the same problem that has confronted business after business for hundreds of years: how best to deal with slowing growth and eventual decline. Levitt studied many business empires – the railroads, for instance – that at a certain point simply shrivelled up and shrank to almost nothing. How, he asked, could businesses avoid such failures?
His approach and his solution comprise a concise demonstration of high-level problem solving at its best. Good problem solvers first identify what the problem is, then isolate the best methodology for solving it. And, as Levitt showed, a dose of creative thinking also helps. Levitt’s insight was that falling sales are all about marketing, and marketing is about knowing your real business. The railroads misunderstood their real market: they weren’t selling rail, they were selling transport. If they had understood that, they could have successfully taken advantage of new growth areas – truck haulage, for instance – rather than futilely scrabbling to sell rail to a saturated market.
Theodore Levitt’s 1960 article “Marketing Myopia” is a business classic that earned its author the nickname “the father of modern marketing”. It is also a beautiful demonstration of the problem solving skills that are crucial in so many areas of life – in business and beyond.
The problem facing Levitt was the same problem that has confronted business after business for hundreds of years: how best to deal with slowing growth and eventual decline. Levitt studied many business empires – the railroads, for instance – that at a certain point simply shrivelled up and shrank to almost nothing. How, he asked, could businesses avoid such failures?
His approach and his solution comprise a concise demonstration of high-level problem solving at its best. Good problem solvers first identify what the problem is, then isolate the best methodology for solving it. And, as Levitt showed, a dose of creative thinking also helps. Levitt’s insight was that falling sales are all about marketing, and marketing is about knowing your real business. The railroads misunderstood their real market: they weren’t selling rail, they were selling transport. If they had understood that, they could have successfully taken advantage of new growth areas – truck haulage, for instance – rather than futilely scrabbling to sell rail to a saturated market.
Dr Monique Diderich holds a masters degree in psychology from the University of Groningen and a doctorate in sociology from the University of Nevada, Las Vegas.
Ways in to the Text Who is Theodore Levitt? What does Marketing Myopia Say? Why does Marketing Myopia Matter? Section 1: Influences Module 1: The Author and the Historical Context Module 2: Academic Context Module 3: The Problem Module 4: The Author's Contribution Section 2: Ideas Module 5: Main Ideas Module 6: Secondary Ideas Module 7: Achievement Module 8: Place in the Author's Work Section 3: Impact Module 9: The First Responses Module 10: The Evolving Debate Module 11: Impact and Influence Today Module 12: Where Next? Glossary of Terms People Mentioned in the Text Works Cited
| Erscheinungsdatum | 07.07.2017 |
|---|---|
| Reihe/Serie | The Macat Library |
| Verlagsort | London |
| Sprache | englisch |
| Maße | 129 x 198 mm |
| Gewicht | 113 g |
| Themenwelt | Wirtschaft ► Betriebswirtschaft / Management ► Allgemeines / Lexika |
| Wirtschaft ► Betriebswirtschaft / Management ► Unternehmensführung / Management | |
| ISBN-10 | 1-912127-33-4 / 1912127334 |
| ISBN-13 | 978-1-912127-33-7 / 9781912127337 |
| Zustand | Neuware |
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