The first thing Theodore Levit does in his article “Marketing Myopia” is to deny the title of eternally growing industry to any industry that has ever existed and claimed to be one. He believes that every industry has been a growth industry at one point, but has not been able to continue on that path for several reasons, none of which is market saturation. Industries have failed to sustain growth due to lack of proper management. . They failed to realize the need to expand into the adjacent sectors they already work with. The railway was limited to rail transport and did not cover other modes of transport. There are many other such examples listed by Levit in his article. The main mistake of these industries was to be product or service oriented, when they should have been customer oriented. To maintain the pace of growth, they had to modify their services according to market needs. Fateful goal An industry is a process aimed at satisfying the customer and not producing goods. Businesses will be better positioned to grow if they focus on meeting customer needs rather than mass producing and selling their products. The analysis error is to consider that the specific product or service is focused on growth and not across industries. For ultimate maintenance and growth, a marketer must need customer service and market orientation. The final motto is to satisfy the customer by meeting their needs. Shadow of obsolescence, every business may face an approach of extinction by the business environment and diversification of market forces. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay Dry cleaning industries were the most newly invented and service-oriented businesses in the market, but they face some shadow of obsolescence due to new inventions, making them the industry is more useless to customers. Customers have completely new and optimal alternatives to meet their needs. Electric Utilities Electric utility industries are also facing the same problem of new and dynamic changes in their usage and production. With the passage of time, electronic utilities are evolving very quickly and with the whole change, customers are also accustomed to using new and convenient utilities. As a result, specific product-oriented businesses are facing a state of obsolescence. Grocery StoreDue to the recent introduction of huge chain stores and hypermarkets, grocery stores in our neighboring locality are also at risk of losing their business. The first time a grocery store owner thinks that these supermarkets won't compete with their competitors and cater to their market, they were wrong. Cycle of Self-Deception This is the cycle in which our own self is the source of the total myopic view of the business. This cycle regarding certain conditions. The self-deception cycle has four conditions.1. Growth is due to increase in population.2. Believing that there will be no substitute for any major product.3. Mass production and lower unit cost for increased production.4. The concern for the development of a single product. The belief that increasing the number of customers will increase your business has a negative impact as you will not take thestruggling to grow your business. The oil industry thinks there is no competitor because there is no substitute for oil, but many refineries have oil inventories so huge that they can pose a threat. Population Myth Population Myth: The belief that increasing population will increase the demand for its own strength. This does not necessarily mean an increase in demand for what a particular industry offers. Sometimes another product may overtake demand for unknown reasons. The oil industry made the wise decision not to stick to petroleum products. They instead expanded into full crude oil products to save themselves from the slide. Asking for trouble Asking for trouble In other words, the industry's efforts have focused on improving the efficiency of obtaining and manufacturing its product, not really on improving the generic product or its marketing. Moreover, its main product has always been defined in the narrowest possible terms, namely gasoline and not energy, fuel or transportation. This attitude helped ensure that. Major improvements in gasoline quality generally do not come from the oil industry. Furthermore, the development of premium alternative fuels is coming from outside the oil industry, as we will show below. Major innovations in automotive fuel marketing have come from small, new oil companies that are not primarily concerned with production or refining. It is these companies that are responsible for the rapid expansion of multi-pump gas stations, with a successful emphasis on large and clean networks, fast and efficient service in the aisles and low prices for gasoline quality. So the oil industry is looking for trouble from foreigners. Sooner or later, in this land of hungry inventors and entrepreneurs, a threat will certainly arise. The belief that there is no competitive substitute for the industry's primary product would be a huge mistake on the part of management. Here too, the author uses the example of the oil industry. The industry has had to change direction several times due to inventions that didn't even come from the same industry. Kerosene in lamps was abandoned with the invention of electric light bulbs. The heating system was stolen by the coal industry. Perils of PetroleumThese perils are the probable occurrence of total industrial disaster or reduction of petroleum industries and its associated complementary industries for the causes of uncertain availability of natural petroleum in nature. But it is a great miracle that this peril has never occurred in this industry. Continually, on the verge of peril, other natural oil resources are available in the market. A company with an uncertain future cannot guarantee that it will not die out and that it will be able to continue its activities with its own strategy and processes. If they fail to introduce the new market and consumer-oriented products or services, then another competitor will do something that could cause the myopic company to go extinct. Production PressureMass production was seen as the way to reach the general public with low-cost products and a tool for good marketing. At the beginning of mass production, we sometimes worked, but at that point this tool no longer works alone. Now everyday customers must be treated more individually. This is why to be a true marketer, he must createvalue and satisfaction with its service and product. Lag in DetroitDetroit was not very focused on choosing its customers. They were only developing their product with an economy of scale approach for efficient pricing. This has been the cause of loss of business and loss of market, both existing and emerging. What Ford put first, Ford was very focused and production driven. They produced a huge quantity of cars with their full production capacity and with this strategy they were able to offer low priced cars in the market. And as a result, it worked. Ford has gained a huge amount of revenue in the market. But it was indeed a short-sighted decision. Product Provincialism The growth of a business depends on the company's focus on the market and its customers. But the company that is not so customer-oriented is much more concerned with the development and production of its products. It might experience low growth and lose the market due to low concern about customer needs and demand in the market. A product provincialism company encircles its products and services. Creative destruction is the process of creating new value for customers by innovating new products or services instead of an existing product that is not truly valued by customers. This mainly happened in the oil industries who tried to introduce a new product liked by the customer for the growth of the industries. Danger if R&D Companies do not focus on customer needs but continually try to do R&D. Paying too much attention to R&D without other factors is a cause of dangers. Managing high-tech products becomes very heavy with engineers. The products themselves become the main focus of marketing. are not very customer oriented and cannot fully meet the customer's needs. These companies think that a customer will accept what they are given and that the ideas are not worth the effort. Treatment of stepchildren This situation occurs in some specific industries. The oil industry is one of them. In the oil industry all industrial activities are more or less linked to research and operations but marketing activities are very few and sometimes not at all. This situation is treated as step-treatment. The beginning and end industries are actually not intended for manufacturing the product and it is developing with great concern. The industries are meant to meet the needs of the customer with all the associated concerns. Product and service development and other things are part of industrial activities. To understand the market and its environment, first understand what the customer needs are and how these needs can be satisfied with the best product and service. In conclusion, we find that companies or industries have a myopic attitude towards their business, largely due to the fact that they are oblivious to the future trends of their resources. This is all the more true as the pressure on resources does not come from their own sector but from related sectors. However, the dependence of these companies on related sectors is largely overlooked by managers. Furthermore, as we have seen, competition emanates from sectors which may seem completely foreign to the activity in question. Regarding the effectiveness of energy-saving devices, an imminent threat came from an already existing sectoral architecture, which until then seemed completely unrelated to energy saving. To counter such threats, management, 37(2),, 31(1), 1-18.