Should you work within the product house, you’ve seemingly come throughout the influential concepts of Theodore Levitt. Considered one of his well-known quotes states that clients don’t purchase a quarter-inch drill; they purchase a quarter-inch gap. Levitt’s article, ‘Advertising Myopia,’ printed in 1960, stays related even at this time. It highlights the significance of repeatedly reassessing the business and the merchandise provided in response to evolving buyer wants and rising options.
The e book emphasizes specializing in buyer wants fairly than being fixated on the corporate’s manufacturing course of, sometimes called a ‘function manufacturing unit’ at this time. Advertising Myopia’ additionally offers useful insights, such because the origin of the expression ‘oil for the lamps of China.’ This expression represents the idea that demand will be generated by inventing an issue that didn’t exist earlier than, by the introduction of one other product. Years later, Steve Clean described these phenomena in his e book ‘4 Steps to the Epiphany’ by the ideas of market and buyer growth. Levitt’s evaluation of Ford’s meeting line and mass manufacturing is one other notable facet.
In abstract, ‘Advertising Myopia’ is an distinctive article that I extremely advocate studying. Should you haven’t learn it but, I hope my notes encourage you to take action (HBR has the whole model on-line without cost). For many who have already learn it, I hope these notes spark new ideas and reflections
