AMERICAN COLLEGE OF TECHNOLOGY

Department of Business Administration

Course: Marketing Management (OMBA562)

Title: Individual Assignment 1

Instructor’s Name Dr Endalkachew

Submitted to: American College of Technonolgy
Student Name Teketel Tarekegn Ambaye
Student ID 277-21A

July, 2022
Addis Ababa, Ethiopia
General Directions
 Try to understand the issue here below and make a discussion with
appropriate example
 copying from others will result in cancellation of your total result
 Assignment due date is July 02, 2022

Discussion Question
1. How does marketing create peace to the society? Or how marketing
can bring about a more peaceful world? Attempt to answer this question
after referring many marketing texts or books and websites for getting
necessary acquaintance with the subject.

Answer
Since there are scarce resource in the world and the available resource in one
country might not be available in another country. The country may want to have
the resources that are not available in the country. To have that resource the
country may wage war on another country. This destructive way of gaining
resource. It cause many distractions to the countries. If the counties try to trade
each other both parties will be beneficiary. Countries can get what they want
through marketing. As described on some books before 1945 GC wars broke out
between different countries as a result of scarcity of important resources to produce
and market different products in order to generate income for their respective
countries. Resources are scarce and are unevenly endowed / distributed/ among the
countries. As there was no trade between the countries for not having sufficient
surpluses, some countries have been facing and consequently suffering scarcity of
very important resources and they made effort to get such resources by force from
those having them in abundance. Such actions used to lead to different wars.
However, during the post war era, historic enemies such as Japan and the United
States of America, France and Germany have not remained enemies as they once
were. They have become trading partners. America gets what it wants from Japan
through trade even using credit terms. France also gets what it requires from
Germany through trade. Then, why should they fight? Marketing, therefore, brings
a more peaceful world. No more war for resource snatching as far as the countries
are open for global trade and they are exchanging their abundant resources with the
other’s abundant in which they are facing shortage in their respective countries.
Closed countries were seen wasting their money for building huge armies and
guns, whereas open and outward looking countries invest their money on machines
and tools which may be used for manufacturing of new products to satisfy needs
and wants of their consumers/ customers.
2. How marketing delivers standard of living to society? Give clear
answer in terms of understandable language and appropriate example.
Use marketing books as reference and browse your website for some
detailed answer.

Answer
How marketing develop the delivery of standard of living to the society is described below.
1. Creating Utility
The utility is an ability of human desire or want. Marketing creates the utility of time, place,
form and thus increase the human consume. Therefore, the standard of living life of humans gets
developed.
2. Adjusting Supply with Demand
Marketer equilibrium with the supply and demand of for society people. At first, marketers
identify the demand of consumer and then they prepare for fulfilling this demand with balance
supplying.
3. Ensuring Proper Distribution
Marketing plays an important role by supplying product at the right time in the right place by
ensuring proper distribution. Consumers get the opportunity to consume foreign products or
goods for proper distribution of the product.
4. Facilitating Large-scale Production
The demand is created at home and abroad by promotional marketing activities. The company
has to produce large-scale production for meeting this growing demand. As a result, the price of
the product is decreased. At this point, the measure of consumers consumes or uses get increased
and get development the quality of life with the increasing demand.
5. Improvement of the Quality of Product
The expectations of customers growing day by day. Now, it is very important for a business to
improve their product with the good quality. If the company can improve their product the
consumers get attracted to this product. The improvement of the quality of product plays an
important role to develop the standard of living.
6. Creation of New Product
The role of new product for attracting customers is very important for increasing the standard of
living. The customers focus on product design, engineering, quality, quantity etc. The fist should
select the product which it wants to produce. Then it will be the success.
7. Maintaining Economic Stability
Economic stability enables other business activities to achieve the standard of living in the
society. Economic stability also creates the right environment for pricing of product and
continuing consuming of customers. Thus, it plays the role of the standard of living.
8. Creating Employment
Marketing creates a lot of job opportunity. A huge amount of people are working on the different
side of marketing functions. Thus, they can improve their standard of living by the earning form
this job.
9. Development of Foreign Trade
Skill marketing creates a lot of demand for the product at home and abroad. For meeting this
demand the marketers have to involve in foreign trade. Thus, the consumer gets the home and
abroad product and they make their life standard with this foreign product. Form the above
discussion, we can say, marketing meets everyone’s life. The meaning of this, by marketing a
standard of living is developed and delivered to a people.
 3. What is Marketing Myopia? Give clear answer in terms of
understandable language and appropriate example.

Answer
Marketing myopia is the failure & narrow-minded approach of marketing management of a
company; which only focuses on certain attributes of the product or service while completely
ignoring the long terms goals such as product quality, customers need, demand and satisfaction.
Marketing myopia is a shortsighted approach to business that excludes customer needs. A better
understanding of marketing myopia will reveal your potential marketing blind spots.
The term "marketing myopia" was first coined by Theodor Levitt in a 1960 Harvard Business
Review marketing paper.
The gist of Levitt's rhetoric described a severe issue that many businesses were experiencing,
namely unsustainable commercial practices.
As the term suggests, marketing myopia is a lack of marketing foresight.
When a business overemphasizes selling, it can easily fall into the marketing myopia trap at the
cost of marketing research and action.
According to Levitt, businesses should address the practical aspects of their product in a societal
context, rather than merely trying to sell things as best as possible.
Simply put, if one neglects their customers' needs without future proofing their product, they
may be selling their business short.
A once-successful company may have been part of a former 'growth industry,' but it eventually
became redundant or even failed due to the business owner's marketing myopia.

Causes of Marketing Myopia

Now, the question is what causes marketers to adopt narrow-minded strategies and become
marketing myopic. However, there are many causes of marketing myopia which may vary from
company to company; some of the common causes of marketing myopia are as follows;
1. Companies Assume they are in a Growth Industry
It doesn’t happen overnight, instead, it takes time to build a reputation and establish the brand.
But when a company achieves that status of being successful, then they become a leading growth
industry in the market for a long time.

However, this notion of being invincible in the market makes them to falsely assume certain
things like whatever they produce, it will sell. Because they are either lead producer or the only
manufacturer in the market, instead of building a relationship with customers they just focus on
their sale strategies.

2. Companies believe there are no Competitive Substitutes

When a company remains a sole producer in the market without any competitor, then they
believe that things would stay the same forever and they will always be at the top. This self-
deceiving belief makes them lazy, and they stop investing their resources in research and
development to keep on getting better. In the end, a competitor comes in the market with unique
features and takes the entire market share.

3. Failure to Consider the Requirements of the Consumer

One of the important causes is the failure to consider the requirement of customers as a part of
their marketing strategy. They become so overconfident that they stop asking their customers,
whether they want our product or not. As a result, the gap between the customer’s requirements
and company product becomes so big; whenever a competitor enters the market. People just
leave the marketing myopic brand immediately.

4. Focusing more on Products and not on Customers

The focus of market myopic companies is only on their product, not the needs and requirements
of customers. They just keep on producing their products overlooking the demands of the
market. Customers only buy their product is because they don’t have another choice.
5. Failure to Consider Changing Consumer Lifestyle in the Digital Age
Technology doesn’t only provide us new products; it also changes our lifestyle along with those
products and services by making us more leisure. When marketers don’t keep in mind the chang-
ing lifestyle of customers; their product becomes obsolete to meet the requirements of customers.
Customers won’t buy any product which doesn’t meet their demands.

How to Avoid Marketing Myopia

There are many ways that the management of a company can avoid market myopia by doing the
following steps;

 By designing the customer-oriented strategies 

 Customer’s demand and need should be kept in mind
 Company’s product should be able to add some value in the customer’s life by solving
their problems 
 New ideas and approaches should be adopted
Examples of Marketing Myopia
1. Kodak

There was a time when Kodak’s cameras were at the peak of the market, they kept on producing
the same types of cameras over the years. When Sony introduced its digital cameras in the mar-
ket, Sony’s cameras were a huge success. Kodak’s cameras were kicked out from the market.
References
https://bconsi.blogspot.com/2016/04/marketing-is-delivery-of-standard-of-living.html
https://www.marketingtutor.net/what-is-marketing-myopia/
https://marketsplash.com/marketing-myopia/
https://www.coursehero.com/file/62800765/Marketing-Managmentdoc/