"Marketing Myopia"

Marketing myopia is a concept where a company focuses too narrowly on selling its specific product rather than understanding and satisfying the broader needs of its customers. This shortsighted approach can lead to missed opportunities for growth and decline, as the company neglects the larger market trends or alternative solutions consumers might prefer. For example, a train company might falter if it only sees itself as a train provider, rather than as a transportation service, missing the rise of cars, buses, or ride-sharing. To succeed long-term, businesses should focus on what customers truly need, not just their current product offerings.