Marketing Myopia and Its Remedies
Marketing is the marketing process by which a firm advertises its products and/or services to the public in order to create a demand for them. In simple terms, marketing is the use of diverse techniques in advertising things to the public. Marketing in the broad sense can include all promotional activities and media for creating demand for a specific good or service. Marketing can also be used to evaluate the market potentials of a product. Marketing is therefore, the science of creating and promoting things to be used by the consuming public.
The social marketing management is an effective marketing concept that concentrates on the promotion of specific goods or services by the employment of various marketing concepts that are normally utilized by large organizations such as advertising. It is based on the idea that the key to successful selling lies in the implementation of an extensive variety of marketing concepts that reach out to as many people as possible. This is one of the best methods to reach out to the largest segment of the society and increase the sales of the products and services. As such, it is being used by the governmental as well as private organizations in order to popularize their products and services.
Marketing myopia refers to the limited perception of the target market. Marketing myopia is caused by the narrow focus of marketers on a particular product concept, to the exclusion of other relevant marketing concepts that could have a positive impact on the selling of the product. It is therefore necessary that marketers broaden their perspectives on marketing concepts in order to utilize the available resources in a more beneficial way. This is to increase the probability that consumers will buy the product.
Another important aspect of developing a highly coordinated marketing concept is customer orientation. Customer orientation is necessary for promoting a product because satisfied customers will easily talk about their experiences with a certain product to friends and family. This will result in greater exposure of the product to potential buyers which, in turn, would translate to increased sales of the product.
A key strategy to use in order to make the most out of marketing activities is exchange of offerings. Exchange of offerings is advantageous for both the marketers as well as the customers because it allows the marketer to acquire new customers. This can be achieved through several channels, such as direct marketing, content marketing and social media marketing. All these methods allow the marketer to exchange offerings with other marketers who are at the same level as them in terms of their marketing strategies.
Finally, marketing myopia can also be countered with the innovative product concept. Through this concept, marketers try to creatively market their product concepts so that they can easily penetrate the consumer’s mindset. By doing this, they not only spread the word about their concept but also allow consumers to think about buying the product as soon as possible.