Avoiding Marketing Myopia is Crucial in Today’s Business World

Avoiding Marketing Myopia is Crucial in Today’s Business World

Jun. 26, 2018

As a small business, your main goal may be the sales of the goods or services that you provide. Although that seems like a sound, logical goal, perhaps a broader look at the intangibles that come along with it may benefit your business.

Marketing Myopia was first defined in 1960 by Theodore Levitt in an article in the Harvard Business Review. It is a narrow and inward looking approach to marketing, which focuses on fulfillment of immediate needs of the company rather than focusing on marketing from consumers' point of view. You may be asking, “What does this have to do with my business?”

Let’s look at an example. If a convertible dealer thinks he is trying sell you a car, he may not get very far. If that same dealer is focusing on selling you the experience of feeling the wind in your hair with the top down, cruising down a country road in the middle of the summer, he may have more luck. The first tactic is what Marketing Myopia is essentially. The second, a much broader approach that focuses on the intangibles associated with the product that meet or exceed the customer’s expectations.

Here is a real-life example. Back in 2000, video stores like Hollywood Video and Blockbuster were booming. Now, they are nowhere to be found. The only remaining video rental chain in our area is Family Video. Family Video attributes much of its success and ability to compete with Netflix and Redbox etc. on its focus on the customer’s overall experience. They now partner with Marco’s Pizza and also have sister companies that include a gym chain and a digital repair shop chain. Will they survive forever? Who knows, but the fact that they have been able to still see good sales today is greatly attributed to their avoidance of Marketing Myopia.

Undoubtedly, Disney is everyone’s go-to when they think great customer service, and for good reason. As a small business; however, why should you care what Disney is doing if you are in a totally different industry? Nobody ever said you need to model your business after companies in your own field. In fact, more and more companies are striving to model their customer service after that of Disney. If you own a carpet cleaning business but you strive to offer customer service similar to that of Disney, there is no doubt that customers will soon notice.

Modeling different aspects of your business around companies in many different industries is what could set you apart. Every business is unique, and it is crucial to focus on the entire picture rather than isolating yourself and getting lost in the shuffle. Here are some ways you can promote your business through chamber membership:

  • Advertising in our Member to Member newsletter that is sent out to more than 5,000 individuals
  • Using your business’s and the chamber’s social media reach to gain exposure to potential
  • Being featured in our “Member Spotlight” in The Business News or on the chamber’s social media

For more information on how you can promote your business through the Greater Green Bay Chamber, contact Renae Schlies at rschlies@greatergbc.org!