I remember one of the first recommended lectures that some professor told me at my university. It was marketing myopia by Theodore Levitt. I found it really interesting, and honestly, I would suggest a lot of business to take a constant look of it, because it can save your business in the long run.
A lot of companies don’t know exactly what do they sell. They don’t sell cosmetics, they sell hope. They don’t sell a car, they sell status.
I’ve always been attracted by the automotive market, it’s one of my biggest passions, and I follow it closely. In the last years if you’ve been interested in it, you’d notice how some companies have what Theodore Levitt said, marketing myopia. They don’t sell transportation, they sell more than that.
It’s fascinating how this market is evolving in two ways. On the one hand, we have a market that is becoming more technological than ever before, integrating the internet of things with autonomous cars and all that stuff. On the other hand, what is really interesting is how they are turning they business model, from transportation companies to energetic ones.
Tesla started this when they announced the powerwall. It became clear with their fusion with Solarcity that they are a energetic company that sells cars.
If you are still doubting about it, you can see how other companies are taking the same strategy, as Nissan with its own powerwall.
It’s a market that in an exciting moment, that allows us to see how some companies are being left behind, because they have marketing myopia.
Not knowing what your business should look like is dangerous. One mistake and you can be out, really out.