Marketing concept and marketing myopia Business & Marketing Essay (Essay Sample)

Marketing Myopia and the Marketing Concept
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Marketing Myopia and the Marketing Concept
Companies employ the marketing concept as a strategy to satisfy consumer needs, increase sales, beat the competition, and maximize profit. This philosophy holds the belief that customers are the driving force of an entity and its business operations. Decisions made by entities adopting this concept are based on the needs of the consumers and the strategies employed by the competitors. Unlike the marketing concept, marketing myopia focuses on the immediate needs of the company and ignores the consumers’ tastes and preferences (Johnston, 2018). Marketing myopia sets in when an entity’s focus is on increasing the sales volume rather than knowing the needs of their customers. The marketing concept is made up of five philosophies; these include the production, product, selling, marketing, and societal marketing concepts. The marketing concept and marketing myopia are related through the selling and production marketing concepts.