Which of the following marketing management concepts is most likely to lead to Marketing Myopia?
Question
Which of the following marketing management concepts is most likely to lead to Marketing Myopia?
Solution
The marketing management concept that is most likely to lead to Marketing Myopia is the Selling Concept. This concept holds the belief that consumers will not buy enough of the organization's products unless it undertakes a large-scale selling and promotion effort.
Here's why:
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Focus on existing products: The selling concept is heavily focused on pushing existing products, rather than understanding and responding to the changing needs and wants of customers. This can lead to a short-sighted, inward-looking approach that neglects longer-term market trends and opportunities.
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Lack of customer orientation: The selling concept is primarily concerned with making a sale rather than building long-term customer relationships. This can lead to a lack of understanding of what the customer actually needs or wants, which is a key aspect of marketing myopia.
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Short-termism: The selling concept often involves aggressive sales techniques that aim to achieve quick results. This short-term focus can lead to marketing myopia, as it overlooks the importance of developing sustainable competitive advantages.
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Neglect of broader market environment: The selling concept can lead to a narrow focus on individual transactions, rather than considering the broader market environment. This can result in a failure to adapt to changes in the market, another key aspect of marketing myopia.
In contrast, the Marketing Concept, which involves understanding customer needs and wants and delivering satisfaction better than competitors, is less likely to lead to marketing myopia.
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