Marketing Myopia

Marketing is a very broad field, which can be easily defined as a way of making a product or service available to the consumer. Marketing is done through advertising or promotion of a product, which may be done through magazines, newspapers, internet, television, brochures, directories, flyers and many more ways. Marketing is one of the most important things that a company can do to survive and thrive. Marketers come up with different marketing plans for different businesses. Marketing is actually a combination of diverse elements like research, analysis, social considerations, consumer needs, competition and so on.

Marketing myopia refers to a common marketing mistake that many marketers make, which is to only focus on a few aspects that matter most to the company. For example, some marketers only care about the pricing of their product while others only think about the design and aesthetics. This fact leads to a general marketing myopia where marketers completely ignore the impact that the price, color, type of the packaging, material used to produce the product and many other aspects will have on consumers. Some of these aspects include quality, uniqueness, cost effectiveness, appeal and many more. It is only by properly considering all these factors that marketers will be able to bring forth a product concept and launch it into the market.

Some of these marketing concepts are often ignored or even confused with the term ‘social marketing’. These marketing concepts are important and play a very crucial role in the long run, especially if you want your business to succeed. The best marketing management practices always incorporate a blend of many important aspects like product concept, selling proposition, advertising strategy, advertising methodologies, brand identity, customer servicing, and social marketing. Marketing myopia also affects the visibility of a product on the internet and this could ultimately lead to the failure of your online selling venture. There is definitely a need for marketing management, especially if your online selling business is still in its infancy stages.