Marketing myopia related first paper published in 1960 in the _________
|A. international business review|
B. forbes magazine
C. harvard business review
D. oxford university press
The Correct Answer Is:
- C. harvard business review
The correct answer is C. Harvard Business Review.
In 1960, Theodore Levitt published a groundbreaking article titled “Marketing Myopia” in the Harvard Business Review. This article marked a significant turning point in the field of marketing and introduced a new perspective on how businesses should approach their marketing strategies.
It emphasized the importance of focusing on customers’ needs and wants rather than just the products or services they offer.
The concept of marketing myopia has since become a fundamental principle in marketing and business strategy, influencing companies and academics worldwide. Let’s delve into why the other options are not correct and explore the significance of the Harvard Business Review publication in more detail.
Option A: International Business Review
The International Business Review is a scholarly journal focusing on international business and related topics. It typically publishes research articles and academic papers rather than opinion pieces or essays like “Marketing Myopia.”
Theodore Levitt’s article was more of a thought-provoking essay rather than a formal academic research paper, making it unlikely that it would be published in this journal.
Option B: Forbes Magazine
Forbes Magazine primarily covers business and finance-related news, features, and profiles of successful entrepreneurs and companies. While Forbes often publishes thought leadership pieces and insightful commentary on various business topics, it is not a typical platform for groundbreaking academic or theoretical works like “Marketing Myopia.”
Theodore Levitt’s article was a significant academic contribution, which is why it would not have appeared in a mainstream business magazine like Forbes.
Option D: Oxford University Press
Oxford University Press is a renowned academic publishing house that publishes books, journals, and educational materials. While they have a long history of publishing high-quality academic works, it’s uncommon for a short essay or opinion piece like “Marketing Myopia” to be featured in a prestigious academic press like Oxford University Press.
Academic presses tend to focus on longer, more in-depth works, and they often publish entire books or monographs instead of individual articles or essays.
The Significance of “Marketing Myopia” in the Harvard Business Review:
1. Paradigm Shift in Marketing:
The publication of “Marketing Myopia” in the Harvard Business Review marked a paradigm shift in how businesses approach marketing. Levitt’s central thesis was that businesses should define their markets by customer needs rather than product categories.
He argued that many industries that faced declines did so because they were too product-focused and failed to adapt to changing customer preferences. This perspective has since become a cornerstone of modern marketing.
2. Customer-Centric Approach:
The concept of marketing myopia emphasizes the importance of a customer-centric approach. It stresses that companies should continuously understand and meet the evolving needs and desires of their customers.
By doing so, businesses can remain relevant and successful in the long term. This idea revolutionized the way companies view their markets and their approach to customer satisfaction.
3. Industry-Wide Impact:
The article had a profound impact on various industries, forcing companies to reevaluate their business strategies. For instance, the railroad industry was often cited in “Marketing Myopia” as a classic example of a business that suffered from a shortsighted, product-centric approach.
After the article’s publication, many businesses, including those in the railroad industry, began to shift their focus to customer-centric marketing.
4. Broad Influence on Marketing Theory:
“Marketing Myopia” introduced several important concepts that continue to shape marketing theory and practice. It highlighted the idea that companies should continually innovate and adapt to changing customer needs, and it emphasized the role of market research in understanding these needs.
These concepts have become fundamental in marketing strategy and are regularly taught in business schools worldwide.
5. Timeless Relevance:
One of the reasons why “Marketing Myopia” remains influential is its timeless relevance. The core message—that businesses should always focus on understanding and meeting customer needs—remains as vital today as it was in 1960. In a rapidly changing business environment, companies that forget this lesson may face stagnation or decline.
In conclusion, the correct answer is C. Harvard Business Review, as this publication played a pivotal role in introducing the concept of marketing myopia, which has had a profound and lasting impact on the field of marketing and business strategy.
The other options, including the International Business Review, Forbes Magazine, and Oxford University Press, are unlikely sources for a groundbreaking essay like “Marketing Myopia,” which fundamentally transformed how businesses approach marketing and customer-centricity.