PREVIOUS YEAR SOLVED PAPERS - UGC NET Management July 2018

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56. The willingness to reject unfamiliar, as well as negative information, is called

  • Option : C
  • Explanation : Marketing Myopia, first expressed in an article by Theodore Levitt in Harvard Business Review, is a short-sighted and inward looking approach to marketing which focuses on fulfilment of immediate needs of the company rather than focusing on marketing from consumers’ point of view. When a company focus more on sales than on marketing and knowing about the consumers’ needs, that’s when marketing myopia strikes in. Marketing Myopia is a situation when a company has a narrowminded marketing approach and it focuses mainly on only one aspect out of many possible marketing attributes. E.g. focusing just on quality and not on the actual demand of the customer.
    When does marketing myopia strike in?
    > Company more focused on selling rather than building relationships with the customers.
    > Predicting growth without conducting proper research.
    > Mass production without knowing the demand.
    > Giving importance to just one aspect of the marketing attributes without focusing on what customer actually wants.
    > Not changing with the dynamic consumer environment.
    While identifying the external strategic factors, the managers sometimes miss or ignore crucial new developments. Personal values and functional experiences of a corporation’s manager as well as the success of current strategies bias both their perception of what they important to monitor in the external environment and the interpretations of what they perceive. This willingness to reject unfamiliar as well as negative information is called strategic myopia.
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