How do you deal with strategic myopia?

What is strategy myopia?

Strategic myopia is a condition in which the management of a business can see clearly those things that are to take place in the short term, but have only a fuzzy view of what their future might be over the longer term.

What causes strategic myopia?

When planning how many items to produce, it’s important to focus on long-term strategies. Myopia can happen if a business keeps its production high without adjusting for customer demand. The demand for certain items can change over time, and it’s important to adjust production to match that.

How do I get rid of marketing myopia?

How to Avoid Marketing Myopia

  1. Have a clear vision. How can this product or service make a difference now and in the future?
  2. Put the customer before the product. …
  3. Do the marketing first. …
  4. Don’t stop the marketing. …
  5. Watch the competition. …
  6. Diversify your products or services. …
  7. Experiment.

What is marketing myopia how can it be avoided?

Marketing myopia can be avoided through filtering every strategic initiative and company program through the screen of the customers it seeks to serve, Fundamentally, any company initiative or program must have the customer at its heart.

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What is an example of marketing myopia?

For example, a brand focusing on development of high-quality products for a customer base that disregard quality and only focuses on the price is a classic example of marketing myopia. …

Which concept leads to marketing myopia?

‘Marketing myopia’ is a term coined by Theodore Levitt. A business suffers from marketing myopia when a company views marketing strictly from the standpoint of selling a specific product rather than from the standpoint of fulfilling customer needs.

Why do companies suffer from marketing myopia?

Marketing Myopia throws light on the organization’s short-sightedness, narrow-minded approach, and temporary viewpoint while marketing the products of their brand. Every Organization invest much time and money in their current business and often get blinded to see the future of the business they are currently in.

Can myopia be avoided?

It is recommended that children be exposed to approximately 2 hours of daylight per day to prevent myopia. Progression of myopia can be reduced by administering atropine 0.01% eye drops as indicated and prescribed by the treating ophthalmologist. Effects must be monitored approximately every 6 months.

How does marketing myopia impact business strategy?

The reason why marketing myopia affects businesses is that they lose touch with their customers. Customer development makes sure you’re always abreast of the wants and needs of your customers. … It’s a difficult road to tread but no one said your business would be easy.

How do I stop being myopic?

You can, however, help protect your eyes and your vision by following these tips:

  1. Have your eyes checked. Do this regularly even if you see well.
  2. Control chronic health conditions. …
  3. Protect your eyes from the sun. …
  4. Prevent eye injuries. …
  5. Eat healthy foods. …
  6. Don’t smoke. …
  7. Use the right corrective lenses. …
  8. Use good lighting.
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