Marketing Myopia is short sightedness or narrow ness of a company to define its business. It may be of product oriented or customer oriented.
Product orientation – Company defines itself as a product producer of quality of product at low cost. (Product concept-an old marketing concept)
Customer orientation- Company define itself as a satisfier of customer needs and wants (Modern Marketing concept).
Both concepts are good, holds good at a certain level but beyond that leads Myopia.
Managers prefer to work in same industry in which they were recruited first; even companies prefer Managers from same sector in which they are dealing. It is also a cause of leading Marketing Myopia.
Human resource department should recruit Managers from different- different industry, so that problems can be scrutinised and future of competition can define well, and therefore Myopia can be avoided.
Case of Tata Nano –
Why it is failure in market?
Nano is a good car as per price and product, even it is customer oriented and law of demand holds good but this Car is considered failure in the market.
Marketing of Tata Nano is pure concept of Flanking Warfare (making a parallel market in a given market).
Car market is niche market and Tata Nano made a sub market in that market. That sub market was considered a low priced car market for every one and Car renounced as Peoples’ car => “Aam Admi car”.
Here Marketing Myopia is acting.
The perception behind having a car is having a prestigious product considered as value additional product.
The future of competition of Car market is not in the way of low priced or lowest price.
The competition of Car market is in fields of style and value creation.