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Myopia literally means short-sightedness. Marketing Myopia is the inefficiency of the Top Management to broadly define its business and meet customer needs resulting to the decline of the product.
by MarketingMyopia in thestudy ofMarketing as a subject? marketing myopia Narrow-minded approac h to a marketing situation where only short-range goals are considered or where the marketing focuses on only one aspect out of many possible marketing
Contd.
Indica took away the taxi car market and the customers got a new option for diesel car with modern technology. Immense competition from other major dealers like MUL, Hyundai etc.. In the year 2002, Mr. Atal Bihari Vajpai replaced Ambassador with a BMW Limo, from then on it lost the position of being the first politicians choice. The car lacked the quality and refinement. Rattling sound and rustling were some of the common complaints.
Possible Learning
A brand exists in the market till it becomes dated, after that it is virtually impossible to rejuvenate the brand. Brand must go to the customers for new ideas. Rationalize the price in the light of emerging market. Changes in product along with the change in market can sustain the brand even in emerging market. Best example is MARUTI 800, the brand is still surviving because it made changes along with changing consumer values and demands.
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