my·o·pi·a (m-p-)

n.

1. A visual defect in which distant objects appear blurred because their images are focused in front of the retina rather than on it; nearsightedness. Also called short sight.

2. Lack of discernment or long-range perspective in thinking or planning: "For Lorca, New York is a symbol of spiritual myopia" Edwin Honig.

Marketing myopia is a term coined by economist Theodore Levitt.  It is defined as management’s failure to recognize the scope of its business. Becoming product oriented or product defined instead of customer oriented threatens to stunt the growth of any business—especially those in our industry. Our industry is one that deals with several people, emotions and expectations.  Understanding that there is something much bigger than a day-of-coordination service keeps the focus on the client and your company’s impact on that client. 

To stand out from our colleagues and competition, as well as avoid marketing myopia, we need to ensure that our companies’ goals are oriented towards our clients’ needs. Several other companies such as AT&T and Revlon have undergone intense transformations to allow them to service their clients and meet their needs.  Try broadening your marketing oriented business ideas to focus on the client’s needs.  In other words, don’t market as if your existence is based on your product, target your actual demographic and their needs.  Instead of telling your  story, show them your place in their story.   Avoid pigeonholing yourself into a myopic description:  e.g., “we are a wedding coordination company”. What happens when your potential client doesn’t want a coordinator—but someone to assist with full-service planning or event design?  You risk becoming obsolete by defining yourself by your product, instead of how your product can service fill the needs of your clients long term.  By continuously re-evaluating your business, you can find yourself a constant in the changing times and economy.  Focus on your core competencies and position yourself to sell them.  Simply:  find a need and fill it.  

How do you define your business?  Ask yourself, seriously, “What business am I in?”

Photo :: Richard Kittel