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Successful companies focus on customer needs, not their own products and services, which canand willbe replaced by competitive alternatives, either ones they make themselves or those produced by existing or potential competitors. The Dot Com Bubble was almost two decades ago. Take a look at your product or service's descriptions in your current marketing. It said the packs needed to be squeezed under high pressure only the juicing machine could produce. At the beginning of 2018, it peaked at nearly $20,000 a pop. Myth 4: Technical research and development will ensure our growth. Its a difficult road to tread but no one said your business would be easy. Solved Give and describe three examples of marketing myopia - Chegg If he is unable to do this, Under Armour will experience the same fate as the railroad industry and other businesses that suffered from Marketing Myopia. Shiseido scoured the local industry for relevant resources but found that it was too underdeveloped to be of much help. You might struggle to find a business disaster as cringeworthy as Kodak's one. How do they retain their clients and customers, and will these relationships last? Abstract. Some examples of companies that have avoided marketing myopia are: Apple, Amazon, and Netflix. We must stop being marketers for a few moments, put aside our vision and see with the client's eyes. A few examples: These are just the notable ones. What Is Marketing Myopia? The Definition, With Examples - MarketSplash What went wrong? Ten years ago, this wasnt a major concern for everyday consumers. Before there were cars, if you asked someone what they needed to get from point A to point B with more comfort and speed, they wouldve told you to breed faster horses. While knowing just how your relevant customers' needs will shift soon can be challenging, making a difference in their lives should always be your top priority.