Marketing Myopia

Marketing is the art of creating and conveying message intended to influence decision makers in a market towards a business opportunity, a solution, or a product or service that can solve a customer’s problem. Marketing has evolved as a strategic management tool over the years and is now used by businesses large and small to promote their product or service, their brand, and their place in the market. Marketing refers to the act that an organisation undertakes to effectively engage its targeted audience, create awareness to build loyalty to generate profit in return for marketing expenditure. It is an increasingly important factor in business decision making.

Marketing is the art of marketing that help identify and develop customer needs and wants and then informs and stimulates people to take the appropriate action to satisfy these needs and wants. This concept is at the core of what it means to be professional. A coordinated marketing strategy helps a company to communicate to customers what it has to offer. In fact, it is through a well-planned marketing program that customers are made aware of new products or services, which in turn, drive customer satisfaction.

This leads to increased loyalty and repeat patronage. Studies have shown that the majority of consumers feel that they have been “sold”, when all they have actually purchased is a less than ideal solution. Consumers do not perceive or understand the true nature of any product concept until after they have used or consumed it. For example, there was a well-known TV commercial about a new anti-wrinkle cream. The commercial featured both men and women who were both happy and content with the product. But, only half of the audience noticed that the men were actually applying the cream and only half of the audience noticed that the product was a collagen gel.