Marketing Myopia
...attention to the customers. Another danger to any company’s growth is when management is transfixed by the profit possibilities of technical research. They pay so much attention to the development of a superior product that they feel that this product does not need to be marketed because it will sell itself. In this case, management is still concerned more about the product then the customers. Consumers are very unpredictable; they have a short attention span and are stubborn. Companies must adapt to their needs daily or someone else will. Adapting to customers and making them want to do business with you is the only way a company will succeed for a long period of time. Marketers should avoid falling prey to the self deceiving cycle by thinking that growth is assured by an expanding population. Secondly, marketers should avoid thinking that there is no competitive substitute for the industries major products. Thirdly, believing that mass producing products will give you the advantage of lower costs as output rises. This marketing strategy seems to shove the product down the consumers throat instead of finding out of this is what they want. Lastly, taking a product and only focusing on improvements and manufacturing cost cutting. The American automobile companies seem to have fallen prey to this cycle because of the low qual...