The Marketing Myopia

Marketing is a key strategy for creating brand awareness, building product knowledge, motivating customer loyalty and increasing sales volume. Marketing reflects many aspects of business activity and includes creative strategies, such as design and advertising, and non-creative strategies, such as strategic management and market research. Marketing has multiple dimensions, including branding, which focuses on creating a unique selling proposition (USP) for the product or service and the marketing activities related to that USP. Branding encompasses the overall look and feel of a product or service but also involves specific interactions between the brand and the product or service with customers.

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As a marketing analyst, your job is to study consumer behavior and understand what drives buying decisions. Marketers develop marketing strategies that will address perceived limitations and the associated costs in their designs and methods. The marketing myopia is the term used to describe a certain tendency among marketers to view products in only their most ideal form. This focus on the idealization of products and services makes marketers narrow down their target customers to only those customers who are likely to be profitable. The result, when it comes to selling products and services, is a missed opportunity for all consumers.

There are two main perspectives on marketing management, corporate marketing management, which is responsible for selling corporate products and services and social marketing management, which is responsible for selling products and services in the context of social norms. Each of these perspectives have different objectives and limitations, and marketers using them must learn to balance the use of each perspective appropriately. Sometimes this can be difficult because of conflicting goals and philosophies. All marketing managers should be aware of these competing views, and must be capable of managing them effectively. They must also be capable of communicating their competing views and principles to the rest of the marketing team.