Marketing myopia

Marketing myopia refers to the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products.

Many sellers suffer from marketing myopia. They are so taken with their products that they focus only on existing wants and lose sight of underlying customer needs. They forget that a product is only a tool to solve a consumer problem.

By Example - A manufacturer of quarter inch drill bits may think that the customer needs a drill bit. But what the customer really needs is a quarter-inch hole. These sellers will have trouble if a new product comes along that serves the customer’s need better or less expensively. The customer will have the same need but will want the new product.