Marketing Myopia - 785 Words

Article: Levitt, T. (1960) â€Å"Marketing Myopia†, Harvard Business Review, July-August, 1960 Marketing myopia is a term coined by Theodore Levitt. The fundamental concept to take from marketing myopia is that a business will survive and perform better if it focuses on satisfying customer needs rather than selling specific products. Rather than defining the company and its products to respond to the customers’ needs and wants, this is a short-sighted, inward, myopic marketing approach focusing on the company’s needs. The failure to see and adjust to the rapid market changes is typically the unfortunate results. The core principle of marketing such as marketing concept, marketing or customer orientation and satisfying customers †¦show more content†¦But human tend to be overconfident most of the time, this is how they put themselves in danger. People once thought Kerosene light was irreplaceable but ended up it has been replaced by incandescent lamp. We believe that innovation most often occurs when a competitor correctly Page 1 anticipates the customer’s next need, often from outside the industry.In additional, failure of the business delivered by the perception on the self-deceiving cycle in the market by the management, in another words to be succeed in business, they have to be open minded and receive feedback from consumers and industries. Population mythis where organization believes in expanding in population will generate more profit due to consumers are multiplying andbuying moreproducts or services. It may true in some industries but not all and it can create negative feedback such as no competitive substitute and creativity or imaginations of the products. Levitt gives examples, in such as industry petroleum, automobiles and electronics tied too closely their current success, too slow to emerge from selfcongratulation. Marketing myopia occurs when business leaders assume an audience for their products will forever grow, that competitors will forever fail. In high demand of consumer and industry it’s contribute to mass production. Thephenomenon causes the industry to produce at a maximum capacity.Show MoreRelatedMarketing Myopia1487 Words   |  6 PagesAbstract The article, â€Å"Marketing Myopia† written by Theodore Levitt, illustrates how businesses interact in their particular industry’s life cycles of growth, maturity and decline. One of the primary focal points of the article is that businesses must know their industry in regards to satisfying their specific customer’s needs. Identifying customer needs and meeting them, allows for continued growth of the company and industry. Recognizing the necessity to satisfy customer’s needs rather thanRead MoreMarketing Myopia955 Words   |  4 Pagesâ€Å"Selling and marketing are antithetical rather than synonymous or even complementary. There will always be, one can assume, a need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.† (Drucker 1973, pp.64-65) In the early years of the ‘70s era, Drucker was one of the first educators and authors who identify marketing as a way to understand customers’Read MoreMarketing Myopia1265 Words   |  6 PagesMarketing Myopia What is Marketing Myopia? Marketing Myopia is the short-sighted approach of management of focusing on a particular product and not identifying the correct industry the organization is in. (Levitt, 1975) In essence it implies that organizations should not define their business based on their products and should attempt to identify the business based on customer centric evidence. Organizations need to focus on customer wants and use customer centric evidence forming strategicRead MoreMarketing Myopia Of Noki Marketing929 Words   |  4 PagesMarketing Myopia of NOKIA Contents Introduction 3 Back ground of Nokia 3 Marketing Myopia 3 New Marketing Myopia 4 Bibliography 5 Introduction Nokia was the most famous mobile phone manufacture around the world. Its slogan technology connecting people has been rooted in consumers mind deeply. However Nokia had faced a huge market lost once the smart phone published. The report is about the marketing myopia analyse of Nokia. Back ground of Nokia Nokia CorporationRead MoreThe New Marketing Myopia7296 Words   |  30 PagesSocial Innovation Centre The New Marketing Myopia _______________ N. Craig SMITH Minette E. DRUMWRIGHT Mary C. GENTILE 2009/08/ISIC Electronic copy available at: http://ssrn.com/abstract=1336886 The New Marketing Myopia by N. Craig Smith* Minette E. Drumwright ** and Mary C. Gentile *** forthcoming in the Journal of Public Policy Marketing This paper can be downloaded without charge from the Social Science Research Network electronic library at: http://ssrn.com/abstract=1336886 Read MoreEssay about Marketing Myopia779 Words   |  4 Pagesï » ¿Marketing Myopia:   Marketing Myopia suggests that businesses will do better in the end if they concentrate on meeting customers’ needs rather than on selling products. The mistake of paying more attention to products a company offers than to the benefits and experiences produced by these products. The term marketing myopia was first expressed in a famous article of the same name written by  Theodore Levitt  for the  Harvard Business Review  in 1960. In Marketing Myopia, Levitt argued that manyRead MoreLiterature Review on Marketing Myopia2738 Words   |  11 PagesArticle 1: Marketing Myopia 3 Article 2: An Integrated View of Marketing Myopia 4 Article 3: Beyond Marketing Myopia: The Service of Small Railroads 5 Article 4: Futuristics: Reducing Marketing Myopia 6 Article 5: Reconsidering the Classics: Reader Response to Marketing Myopia 7 Article 6: Global Marketing Myopia 8 Article 7: Editorial: Marketing Myopia 9 Article 8: Extending the marketing myopia concept to promote strategic agility 10 Article 9: The New Marketing Myopia 11 Article 10:Read MoreMarketing Myopia, By Theodore Levitt1348 Words   |  6 PagesMarketing Myopia Analysis â€Å"Marketing Myopia†, by Theodore Levitt is one of Harvard Business Review’s most profound articles ever published, having won the McKinsey Award in 1960. The title of the article hints what it suggests, a short-sighted approach to marketing. Levitt, whom has witnessed the rise of three industries: petroleum, automobiles and electronics, analyzes and comments on businesses’ failures, partly due to a misguided focus. Business, in essence is to establish an entity in which profitRead MoreAnalysis Of Theodore Levitts Marketing Myopia 1341 Words   |  6 PagesIn Theodore Levitt’s article â€Å"Marketing Myopia†, he defines that marketing should focus on customer oriented instead of product oriented. He had introduced a famous question, â€Å"What business are you really in?† Many times, people misidentify the industry they are in. For example, Levitt uses the examples of railroad business, Hollywood, oil company, and many other examples to teach us that oriented management can keep a growth industry growing. Although â€Å"product orientation is unquestioned† for manyRead MoreAnalysis Of Theodore Levitt s Marketing Myopia744 Words   |  3 PagesTheodore Levitt s original 1960 Harvard Business Review in 1960 Marketing Myopia addressed shortsighted in management, industry is a customer satisfying business and not a goods producing business (Levitte, 1960). The core meaning behind Levitt s Marketing Myopia is Levitt (2008), Every major industry was once a growth industry. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. Others that are thought of as seasoned growth industries have

Agriculture Is Africa s Backbone And Holds Tremendous...

Agriculture is Africa’s backbone and holds tremendous potential as an engine for future growth and job creation in the continent. The sector employs 65-70% of the African workforce and accounts for roughly a third of the continent’s GDP. Women make up more than half of Africa’s farmers and produce about 90% of the continent’s food. Promoting agricultural production is widely regarded as one of the most effective ways to drive inclusive growth and reduce poverty. The experience of countries like Ghana and Uganda over the past decade provides powerful demonstration of the positive impact that sustained agricultural growth can have on poverty reduction. Although Africa has the potential to become a global agricultural powerhouse, it has not realized this potential. The continent has large arable land resources, but nearly 80% remains uncultivated. Instead, Africa imports roughly US$ 30 billion in agricultural products every year and the international competitiveness of African agricultural exports has deteriorated over the past 30 years. The resulting, repeated food crises in many parts of the continent underline the need for urgent action to address the root causes of food insecurity in Africa. Constraints in African Agriculture African countries have come a long way in the last decade, with faster agricultural growth in many countries. However, in a largely globalized world, with powerful emerging markets, there are several hurdles that need to be overcome for AfricanShow MoreRelatedExploring Corporate Strategy - Case164366 Words   |  658 Pagesintended to be a comprehensive collection of teaching material. They have been chosen (or speciï ¬ cally written) to provide readers with a core of cases which, together, cover most of the main issues in the text. 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Eliot To Ann whose love and support has brought out the best in me. And, to our girls Mary, Rachel, and Tor-Tor for the joy and pride they give me. Finally, to my muse, Neil, for the faith and inspiration he instills. E.W.L Preface Since you

Business plan in New Zealand-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Operational plans and strategies which will be used to prepare a Business plan in New Zealand. Answer: Introduction This report is accompanied by several operational plans and strategies which will be used to prepare a business plan. In the starting of this report, key strategies will be used to establish a construction business in New Zealand. It will include management of internal and external activities such as establishment of process working, hiring and management of employees and other investment activities. After that strategies will be formulated to set up a business plan. After that arrangement of financial sources and deployment of the same will be done. In the end operational and ethical exercise will be implemented. Fletcher construction private limited is the construction business which is developed with a view to provide construction services in New Zealand with quality assurance irrespective of price bar. Organization overview This is the leading infrastructure, engineering and building contractors and developing projects in New Zealand and other countries. This company has been set up with a view to provide unique buildings and houses which are accompanied by innovative use of high technologies features. Vision Fletcher construction private limited has vision to construct customized building and houses for clients which are accompanied by high technologies features. It has vision to increase its overall turnover to NZ$ 10,231 million within next 10 years. Mission It has mission to grab at least 25% market share within five years and establish core competency in its value chain activities for the constructions of unique level of building and houses. Products and services The main unique selling point in which company will develop core competency is related to constructions of homes and offices for clients which are accompanied by high technologies features and deigned. Industry sector There are several rivals in the construction business such as progressive enterprises, Ryman healthcare and Spark New Zealand who are coming up in the New Zealand market with unique construction plans. However, Fletcher construction private limited is coming with newly developed constructions of homes and offices for clients which are accompanied by high technologies features and deigned at very cheapest price (Fabling Sanderson, 2016). Investigation of economic and business environment which could affect the Fletcher construction private limited With the increasing ramification of economic growth and market changing factors of New Zealand business, it is evaluated that there are several companies which are increasing overall revenue and growth of business. In 2016 Air New Zealand is having total turnover of NZ $ 5,231 million which is 12% increase from the last year data shown in the annual report. On the other hand, Spark New Zealand is having total turnover of NZ $ 3531 million which is 14% more as compared to last year data. Another company is Progressive enterprises which has shown total turnover of NZ $ 6100 million which is 18% more as compared to last year data shown in the annual report. Therefore, after analyzing the annual report of these companies, it could be inferred that construction industry has shown increase in overall turnover and demand of clients in effective manner. However, GDP of New Zealand is 39,426.62 USD(2016) which has increased by 20% since last 10 years (Kelsey, 2015). This shows that employment rate, population of country, interest rate and purchasing power of resident of New Zealand has also increased. This shows the positive inclination and high potential for the growth of construction business in New Zealand market. Major trends After evaluating the financial statement of various companies who are working in construction business, it is evaluated that all these companies such as progressive enterprises, Ryman healthcare and Spark New Zealand are providing average growth of 15% in their annual turnover. It reflects that if Fletcher construction private limited come up with its customized building and houses for clients which are accompanied by high technologies features then it will surely increase the overall turnover and profit of company after one years. Company has to run its business at the Break-even point for one year. After that, company could increase the overall financial performance (Hansen, 2013). The major trend of this construction business in upward. All the companies in this construction business has observed at least 15 % average growth in their business value chain activities and overall turnover. It has shown that New Zealand industry has increased its overall production of goods and servic es throughout the time. In addition to this, purchasing power parity of clients in New Zealand has also increased by 14% as compared to last five years data. It is evaluated that if Fletcher construction private limited would start up its construction business with the core competency in customized building and houses for clients which are accompanied by high technologies features then it will surely result to increased brand image and turnover of company (Huo, et al. 2014). Competitive advantage It is the intent of company which distinct company from those of others in market. it is evaluated that if company follow proper level strategies and strategies of customized building and houses for clients which are accompanied by high technologies features then it will attract high number of customers in market (Polovin, et al. 2016). In addition to this, these level of strategies plans will showcase that company is providing unique and innovative method for the construction of building and houses for personal and commercial purpose. However, team work of five employees will increase the overall effectiveness of work and planned business system. Therefore, the main competitive advantage for Fletcher construction private limited would be to use high technologies features in its construction services of houses and office buildings. This will help company to grab more clients in market and attract customers and easy and determined approach (Goulding, et al. 2015). However, this type o f strategies could be copied by other rivals in the market but once company could align the best possible interest of two strategies such as cheapest cost of house building and construction f office place and using unique highly developed technologies features in house and office designs then it will not only increase the brand image of company but also help company to create core competency in this conduction business (Kelsey, 2015). Niche Size Fletcher construction private limited is planned to provide its construction business at small level. It provides that if company with its five members come up with newly developed customized building and houses for clients which are accompanied by high technologies features then it will help him to grab high market share in New Zealand. There are several clients who are stuck in problems to decide the cost efficient and quality oriented construction of houses and office building. With the help of service and constructions houses and commercial building provided at very cheapest price, clients who are unable to avail the services provided by the big companies such as progressive enterprises, Ryman healthcare and Spark New Zealand could easily grab customized services offered at the reasonable price (Bryman, Bell, 2015). Customers for Fletcher construction private limited This company has planned to focus its developed houses and commercial offices in construction business. It is evaluated that customized building and houses for clients which are accompanied by high technologies features are the main offered products for the organizations. It is considered that if company could developed customized building and houses for clients which are accompanied by high technologies features then it will result to grasping more customers who wants to have innovative and creative building and houses (Kibert, 2016). In addition to this, construction of houses in New Zealand will be very useful and will increase the overall turnover of Fletcher construction private limited if it could customized its construction services in effective manner. However, client in New Zealand are more inclined towards having homes and offices which are accompanied with high technologies and featured by innovative designs. Company should focus on people who fall between the age group of 30- 50 years age. These people are most potential clients who wants to invest their investment in construction of homes and offices in New Zealand. Company could make changes in its existing policies and working operations as per the design and instructions suggested by these potential clients in New Zealand market share. Fletcher construction private limited needs to conduct a special seminars and construction council plan in which all the potential clients could participate to showcase their design and dream houses so that all the architect of Fletcher construction private limited could note down their wants and needs to customized their services plans and format accordingly. Nonetheless, some other start- up business which have been operated their business since last three years are also potential clients for Fletcher construction private limited. These start-up may also like to take construction services from the Fletcher construction private limited for construction of their o fficial areas and apartment (Myers, 2016). Competitors of Fletcher construction private limited in the New Zealand market Construction business and real estate business has been showing high amount growth and capital value creation for existing and new comers business organizations such as progressive enterprises, Ryman healthcare and Spark New Zealand who are coming up in the New Zealand market with unique construction plans. These rivals have strong brand image in construction business in New Zealand. However, with the increasing ramification of economic changes and clients inclination towards the services offered by these companies, they have made increment in average revenue by 15% since last two years (D. Banke, Mashruwala Tripathy, 2014). However, If Fletcher construction private limited wants to compete with these business organizations in construction business then company has to follow two specific business strategic plans such as product differentiation and cost leadership. Product differentiation strategy of company focus on providing construction of customized houses and offices in New Zeal and market. Another strategic plan of Fletcher construction private limited is related to provide affordable and less costly construction for clients in New Zealand market. It reflects that if Fletcher construction private limited could offer its best possible goods and services in construction business to its clients at very cheap cost then it could result to effective competition with other rivals in New Zealand market (Das Ghosh, 2015). If Fletcher construction private limited could come up with newly developed and high tech technologies in construction of houses and offices in New Zealand then it could keep company in market distinguish from those of others. However, progressive enterprises, Ryman healthcare and Spark New Zealand are the main organizations in construction business who are coming up with strong strategic plans and creative constructions services in New Zealand for the betterment of clients satisfaction (Potts Ankrah, 2014). However, if Fletcher construction pri vate limited in starting should focus on creating brand image and winning clients trust in this construction business of New Zealand. Fletcher construction private limited needs to develop core competency in constructions of homes and offices for clients which are accompanied by high technologies features and deigned. These will help company to tap the construction business with new products and services and will attract more clients in determined approach. There are several rivals in construction business in New Zealand who are coming up with unique strategic plans and creative business policies to provide best possible construction services (Stanley Thurnell, 2014). Competitors name Creative business and strategic planning Progressive enterprises Using of ERP system in the business chain activities with a view to provide prompt changes in the construction services as per the wants and needs to clients in New Zealand market. Ryman healthcare Services provided by Best architect and experienced employees who design and instruct labor to construct building and official places in determined approach. Spark New Zealand This company believes in providing services as per the best possible manner at very cheapest price in New Zealand construction market. Carnival New Zealand Use of High Tech design functions and customized houses and official places for clients (Hansen, 2013). After evaluating all the functions and creative design functioning of these companies, it could be evaluated that if Fletcher construction private limited wants to grow in construction business then it firstly has to determine the existing offering of products and services by other rivals. However, Fletcher construction private limited could follow two main strategies to win over the market such as cost leadership and product differentiation strategy. These two strategies are the key pillar of the market and its success. Cheaply construction services in New Zealand market will open door for Fletcher construction private limited to operate its business and high quality of construction services accompanied by new high technologies will help Fletcher construction private limited to establish effective brand image and grow in New Zealand construction business (Kelsey, 2015). Summary This report has reflected the key understanding on how Fletcher construction private limited could enter into construction business market in New Zealand in spite of various strategic challenges and business problems. In this report, it is learned that if Fletcher construction private limited wants to make effective business functioning in New Zealand market then it has focus on following two strategies to win over the market such as cost leadership and product differentiation strategy. These strategies will allow company to provide its constructions services at very cheap price and building and official places constructed by company will be accompanied by high technologies and advanced strategic designs. In addition to this, company should focus on potential clients who falls between age group of 30 to 50 years. These clients are more inclined towards availing construction services to build their own homes and customized office area (Hardin McCool, 2015). Reflection This study has taught me how we can start up a new construction business in New Zealand market without facing possible problems. However, creative and innovative business methods are the key part of success of new start up business. Therefore, in order to give tough competition to rivals in construction business in New Zealand, businessmen has to think effectively and strategically. Now a days, clients are more inclined towards changes and creative business services. If they are not given services as per their wants and need then they will go for other companies. Customizations of services are the best business polices to win over the market and provide best possible services in market. However, in starting all the startup has face several problems such as finance arrangement, loss of business functioning, non-effective services and less inclination of clients towards the organizations. These all problems could be mitigated only when, entrepreneur follow a systematic strategic plan a nd implement proper research on the possible start up business market. It is evaluated that analyzing the market will help organizations to develop an effective business plan to win over the market (Ramsgaard Warren, 2015). Conclusion After evaluating all the facts and study of construction business, it could be evaluated that cost leadership and product differentiation are the key strategic pillar to enter into new business market. Now in the end, it could be inferred that If Fletcher construction private limited wants to make effective business functioning in New Zealand market then it has focus on developing creative business plan and use of highly developed technologies in its construction services References Bryman, A., Bell, E. (2015).Business research methods. Oxford University Press, USA. Banker, R., Mashruwala, R., Tripathy, A. (2014). Does a differentiation strategy lead to more sustainable financial performance than a cost leadership strategy?.Management Decision,52(5), 872-896. Das, U., Ghosh, A. L. (2015). Cost Leadership Strategies in Indian Scenario: A Study of the Steel Industry.The MA Journal,50(2), 52-56. Fabling, R., Sanderson, L. (2016). A Rough Guide to New Zealand's Longitudinal Business Database. Goulding, J. S., Pour Rahimian, F., Arif, M., Sharp, M. D. (2015). New offsite production and business models in construction: priorities for the future research agenda.Architectural Engineering and Design Management,11(3), 163-184. Hansen, A. H. (2013).Fiscal policy business cycles. Routledge. Hardin, B., McCool, D. (2015).BIM and construction management: proven tools, methods, and workflows. John Wiley Sons Huo, B., Qi, Y., Wang, Z., Zhao, X. (2014). The impact of supply chain integration on firm performance: The moderating role of competitive strategy.Supply Chain Management: An International Journal,19(4), 369-384. Kelsey, J. (2015).Reclaiming the future: New Zealand and the global economy. Bridget Williams Books. Kelsey, J. (2015).The New Zealand experiment: A world model for structural adjustment?. Bridget Williams Books. Kibert, C. J. (2016).Sustainable construction: green building design and delivery. John Wiley Sons. Myers, D. (2016).Construction economics: A new approach. Taylor Francis. Polovin, Z. A., Gonzalez, M. A. P., de la Rosa Esparza, G. (2016).U.S. Patent No. D772,042. Washington, DC: U.S. Patent and Trademark Office. Potts, K., Ankrah, N. (2014).Construction cost management: learning from case studies. Routledge. Ramsgaard, M. B., Warren, L. (2015). Learning Entrepreneurial Leadership among Nascent Food Entrepreneurs in Denmark and New Zealand. InANZAM Conference 2015. Stanley, R., Thurnell, D. (2014). The benefits of, and barriers to, implementation of 5D BIM for quantity surveying in New Zealand.

The Witches Summary free essay sample

The story is about a boy and his grandmother who knew the witches very well. The witches hate children very much, so when they saw a child they will make them disappeared. One time, when the boy was training his mouse in a meeting room of the hotel, about a hundreds of witches came in and had their meeting. There was also a witch leader called The Grand High Witch. She had invented a medicine called the Formula 86 Delayed Action Mouse-Make, which could turn people into mouse. She decided to add the medicine in the chocolate and gave to the children, so that they would all become mice after eating. The boy’s classmate, Bruno Jenkins was the first to try the chocolate. He came to the meeting room. After ten seconds, the medicine took effect and Bruno turn into a mouse! When the meeting was nearly finished, a witch discovered there was a boy hiding in the room. We will write a custom essay sample on The Witches Summary or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page So, the Grand High Witch forced him to drink the new medicine and afterwards, he became a mouse too. The boy and Bruno went to find the boy’s grandmother and told her all about the wicked things the witches had done. They decided to get rid of the England witches and started to plot out their plan. At last, their plan success and all the witches turned into mice. After that, they back to Norway and planned to turn the other country of the witches into mouse also.