Marketing Myopia explained

Innovation Strategy

This Harvard Business Review video neatly explains the concept of Marketing Myopia, first coined by ex HBR editor Theodore Levitt.

People don’t really want a quarter-inch drill, said Levitt, what they really want is a quarter-inch hole.

The video explains how rail companies failed to see that they were really in the transport business (so should have started developing cars and other modes of transport) and warns energy companies not to focus too much on oil at the expense of developing other sources of energy.

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