Give Three Examples Levitt's Lasting Contributions Business / Marketing Practice Essay

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Levitt

Give Three examples Levitt's lasting contributions business / marketing practice.

Levitt's most lasting contributions to business and/or marketing practice

According to Theodore Levitt's 1975 essay on "Marketing myopia," first and foremost, it is vital that businesses remember that they are in the business of serving consumers, rather than serving their own ends. Hollywood is not in the 'motion picture business,' rather, it is in the entertainment business. The fact that 21st century Hollywood understands the need to be customer-oriented is manifested in the many tie-ins Hollywood has orchestrated with its DVD, video game, and celebrity-related promotions, which are tailored to meet consumer demand and the rapidly-changing media economy. Most successful companies are not known for producing a singular product, rather they have learned to morph and to change their product to respond to current consumer needs. Being product-focused means that once the product and/or a specific mode of product delivery are obsolete, then there is no need for the company's existence.

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Today, the Apple Corporation's shift to hand-held, mobile technology away from computer companies' previous focus on desktop PCs has been the key to its success.

Secondly, there is no such thing, says Levitt, as a growth industry, or an industry with infinite potential to expand. New technology will always step in and change the marketing dynamic (as manifested in the decline of Blockbuster and rentable movies, for example). Even the oil industry, Levitt councils, is not immune to the pressures of change. You cannot rely upon an infinitely expanding population and mass production. Substitutes are always available and 'tinkering' with the product in a narrow way is not a substitute for real innovation -- no amount of product innovation could have saved the buggy whip industry.

Although Levitt's predictions about electric cars were somewhat premature and the oil industry still remains highly profitable, it is not impossible that green energy….....

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