their markets in terms

05 Jan their markets in terms

As quoted in Oxford dictionary, marketing myopia is “A failure to define an organization’s purpose in terms of its function from the consumers’ point of view. For example, railway companies that define their markets in terms of trains, rather than transportation, fail to recognize the challenge of competition from cars, airlines, and buses. It is therefore necessary to define the needs of the consumer in more general terms rather than product specific terms.”.

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