Introduction
Theodore Levitt written an important marketing paper called Marketing Myopia which was published in the Harvard Business Review in1960. Marketing Myopia suggests that, organizations should concentrate to be more customers oriented rather than just selling products, in order to existence or survival. According to Levitt (1960), there are no objects as can be state as developed industry, and organisations desires to expand their operation and commerce therefore bank on every chance possible. This situation is still same for all the businesses, who are trying to grow and sustain, as competition in any industry increasing day by day.
Entertainment industry itself experienced a remarkable growth in the UK 9.9% increase in year 2013 …show more content…
Similarly, in early 20th Managing Director of HMV’s commented that, “I don’t see any threat from superstores and online sellers (music, film and games), as serious customer will continuously like and experience of physical outlet” The Guardian (2013). Recorded music sells revenues dropped about $15bn in 2013 worldwide, in the face of subscription streaming services (The Guardian, 2014). Business orientation has been changed a lot and the organisation should focus on people needs and, turn up with ideas and products (Vargo and Lusch, …show more content…
Stakeholders perform a vital part in organisation success (Davis, 2013) and customers are most important figures among all the stakeholders. Consumers are the only object for construct factories, employing people, or involve in every steps of commercial action and without them there are no trade. (Kotler & Keller, 2012). Moreover, when customers buying trend was raising on online music download or streaming, HMV was failed to satisfy those customer needs. Jupiter Research suggests that, in 2014 about 37 Million customers will buy streaming music all over the world (The Guardian, 2014). In results, HMV lost their customers to their competitors namely Spotify, Youtube and Apple etc. However, often customers’ perception, needs and wants reach very high level or change rapidly and which become tough for many organisations to deal with those
Theodore Levitt written an important marketing paper called Marketing Myopia which was published in the Harvard Business Review in1960. Marketing Myopia suggests that, organizations should concentrate to be more customers oriented rather than just selling products, in order to existence or survival. According to Levitt (1960), there are no objects as can be state as developed industry, and organisations desires to expand their operation and commerce therefore bank on every chance possible. This situation is still same for all the businesses, who are trying to grow and sustain, as competition in any industry increasing day by day.
Entertainment industry itself experienced a remarkable growth in the UK 9.9% increase in year 2013 …show more content…
Similarly, in early 20th Managing Director of HMV’s commented that, “I don’t see any threat from superstores and online sellers (music, film and games), as serious customer will continuously like and experience of physical outlet” The Guardian (2013). Recorded music sells revenues dropped about $15bn in 2013 worldwide, in the face of subscription streaming services (The Guardian, 2014). Business orientation has been changed a lot and the organisation should focus on people needs and, turn up with ideas and products (Vargo and Lusch, …show more content…
Stakeholders perform a vital part in organisation success (Davis, 2013) and customers are most important figures among all the stakeholders. Consumers are the only object for construct factories, employing people, or involve in every steps of commercial action and without them there are no trade. (Kotler & Keller, 2012). Moreover, when customers buying trend was raising on online music download or streaming, HMV was failed to satisfy those customer needs. Jupiter Research suggests that, in 2014 about 37 Million customers will buy streaming music all over the world (The Guardian, 2014). In results, HMV lost their customers to their competitors namely Spotify, Youtube and Apple etc. However, often customers’ perception, needs and wants reach very high level or change rapidly and which become tough for many organisations to deal with those