Marketing Myopia Essay

Document Type:Essay

Subject Area:Marketing

Document 1

A good marketing model enhances the capacity of an organization to attain their objectives in the contemporary market where consumers’ attitudes and behavior keep evolving from time to time. The marketing concept is a philosophy that coins a strategy in which entities establish the needs and preferences of the consumers thereby informing decision making on better ways of meeting their expectations. The marketing concept seeks to identify the critical area that entities are required to focus on in the desire to promote their products and exponentially grow their market niche (Homburg, Jozić & Kuehnl, 2017). Even though the market is challenged by intensive competition, most organizations that are successful have shifted the focus from competition and moved to listening to the consumer expectations.

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Organizations that get it right take on the marketing concept as an instrument to determine their strategic framework of establishing a marketing mix capable of responding to the different facets of consumer satisfaction. The times are changing and consumers keep evolving from time to time hence it would be better for an organization to develop a marketing concept that seeks to link consumers’ expectations to product development (Hillebrand, Driessen, & Koll, 2015). Every industry is growing very fast and most successful entities such as Amazon and Alibaba have taken on an initiative that would create a business model where the consumer defines the direction of the organization. The marketing concept is related to marketing myopia in the sense that it is expected to provide the roadmap for an entity to look at the market from a futuristic perspective as they seek to handle the underlying needs.

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