Marketing Case Study Analysis Essay Example | Topics and Well Written Essays - 2750 words

Marketing Case Study Analysis - Essay ExampleIn this regard, a deeper understanding of what the relevance is of market myopia is can be gauged. In the analysis of this case study, Levitt (1975) suggested that the reason behind the downfall of the so-called growing indus settle is generally because of their myopic sentiment culture. With this short sighted vision of what the future of business may possibly offer, firms do collapse. It is indeed necessary to think outside the box and have a bigger picture of what is likely to happen in the industry. Also, he proposed that in order for business to thrive continuously, businesses must be customer oriented so unrivaledr of being too much occupied in developing, improving and producing goods and services. Likewise, he also suggested that merchandise is needed and not just basically selling since marketing includes communicating the values that the products and services can possibly offer. This recommends that in order to avoid busine ss failure in the future, a proper implementation and doing of the strategies should come next to ensure the backed business after such careful and balanced analysis and planning of the business context today and in the future. Introduction Starting a business involves risks since its success is never a guarantee. In currentity, there are only slim chances of success in all(prenominal) business because only a few out of the total numbers of founded businesses do succeed. The U.S. Small Business Administration suggested that an estimation of over a fractional of the small businesses do fail within the first 5 years of their operation (Vetbiz Resource Center, 2009). There are many available print and online materials which try to explain why businesses fail. In the book entitled Small Business Management, Michael Ames (1983) suggested that the collapse of small businesses can be accounted by the following reasons the entrepreneurs lack of experience in handling business, poor inv entory management, weak credit arrangement, excessive investment in fixed assets, insufficient capital to sustain the business needs, personal use of business funds, surprising growth in business as well as the poor and inconvenient location of business. On the one hand, there are two more reasons accounting to the collapse of business. According to Gustav Berle (1989) in the Do It Yourself Business Book, the increased competition in the market and the low sales are also reasons behind business failure. However, it is the case that businesses may have achieved a certain growth at one point in time which is followed by its collapse after. This failure of businesses, according to Theodore Levitt (1975), is not caused by the saturation in the market but mainly receivable to the short sighted thinking culture of firms through having the illusion that such industries are growing. For Levitt (1975), the belief in the so called growth industry should be jilted since for him, such convi ction is followed by complacency. With the belief in the growth industry, the businesses focus more on developing products and producing goods which they sell to the consumers. Nonetheless, these firms lose sight of what the real needs and wants are which can truly satisfy the customers. Given this, the focus of this paper mainly delves at critically analyzing the case of