Advantages of sales promotion essay

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Advantages of sales promotion essay

Fundamental idea[ edit ] The Myopic cultures, Levitt postulated, would pave the way for a business to fall, due to the short-sighted mindset and illusion that a firm is in a so-called 'growth industry'. This belief leads to complacency and a loss of sight of what customers want.

Advantages of sales promotion essay

It is said that these people focus more on the original product and refuse to adapt directly to the needs and wants of the consumer. In every case the reason growth is threatened, slowed or stopped is not because the market is saturated. It is because there has been a failure of management.

Some commentators have suggested that its publication marked the beginning of the modern marketing movement. It exhorted CEOs to re-examine their corporate vision and redefine their markets in terms of wider perspectives.

It was successful in its impact because it was, as with all of Levitt's work, essentially practical and pragmatic.

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Organizations found that they had been missing opportunities which were plain to see once they adopted the wider view.

The paper was influential. The oil companies which represented one of his main examples in the paper redefined their business as energy rather than just petroleum. By contrast, when the Royal Dutch Shell embarked upon an investment program in nuclear powerit failed to demonstrate a more circumspect regard for their industry.

One reason that shortsightedness is so common is that people feel they cannot accurately predict the future. While this is a legitimate concern, it is also possible to use a whole range of business prediction techniques currently available to estimate future circumstances as best as possible.

There is no such a thing as a growth industry.

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There are only companies organized and operated to create and capitalize on growth opportunities. There are 4 conditions of the self-deceiving cycle: The belief that growth is assured by an expanding and more affluent population.

Advantages of sales promotion essay

Too much faith in mass production and in the advantages of rapidly declining unit costs as output rises. Preoccupation with a product that lends itself to carefully controlled scientific experimentation, improvement, and manufacturing cost reduction.

It trains managers to look beyond their current business activities and think "outside the box". George Steiner is one of many in a long line of admirers who cite Levitt's famous example on transportation.

If a buggy whip manufacturer in defined its business as the "transportation starter business," they might have been able to make the creative leap necessary to move into the automobile business when technological change demanded it.

This can entail the use of long-term profit objectives sometimes at the risk of sacrificing short term objectives. It stems from three related phenomena: For business-to-consumer companies, these other stakeholders e.Disclaimer: This work has been submitted by a student.

This is not an example of the work written by our professional academic writers.

Turnitin provides instructors with the tools to prevent plagiarism, engage students in the writing process, and provide personalized feedback. Marketing Myopia is used in marketing as well as the title of a marketing paper written by Theodore Levitt. This paper was first published in in the Harvard Business Review, a journal of which he was an editor. Marketing Myopia suggests that businesses will do better in the end if they concentrate on meeting customers’ needs rather than on selling products. Let’s start with the disadvantages first, because the advantages are numerous and everything is perceived to have a positive effect unless it is used negatively.

You can view samples of our professional work here.. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays. Consolidating the data is something that’s needed to be done for a while.

Most surveys on the book selling industry totally ignored/underestimated self publishing sales.

Marketing myopia - Wikipedia

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Advantages & Disadvantages of Sales Promotions | Bizfluent