some discussion questions
- Apply the marketing-myopia concept to print media, magazines, and newspapers. What is the implication?
- What are the emerging trends in the fast food industry? What are the alternative responses available to McDonald’s assuming it wants to stay relevant to customers?
- Perform a SWOT analysis for The Coca-Cola Company in the soft drink category. What are the biggest threats and opportunities? What strategic actions are necessary for the company to thrive by 2025?
Marketing Myopia
Marketing is an integral part of any business, without which it could be challenging for investors to reach out to the potential market. Businesses achieve their primary targets through ensuring that various activities within the business are geared towards reaching out to new and maintaining the old markets. However, the investors also ought to consider the necessity of involving all stakeholders in the marketing process, lest they could end up losing on some of the important aspects of the business process. Ultimately, the involvement of all stakeholders helps understand the scope of various projects within the business, such that the investor is in a position to allocate the available resources with a clear view of such important aspects of the business. For instance, the print media has experienced significant onslaught from digital media platforms. There would be cases in which the management in the print media could be so focused on marketing the product at the expense of having resources involved for promotional activities for the company.
(1,049 words)