In the event you work within the product house, you’ve possible come throughout the influential concepts of Theodore Levitt. One in every of his well-known quotes states that prospects don’t purchase a quarter-inch drill; they purchase a quarter-inch gap. Levitt’s e book, ‘Advertising Myopia,’ revealed in 1960, stays related even at present. It highlights the significance of constantly reassessing the trade and the merchandise provided in response to evolving buyer wants and rising alternate options.

The e book emphasizes specializing in buyer wants fairly than being fixated on the corporate’s manufacturing course of, also known as a ‘function manufacturing unit’ at present. 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 might be generated by inventing an issue that didn’t exist earlier than, by means of the introduction of one other product. Years later, Steve Clean described these phenomena in his e book ‘4 Steps to the Epiphany’ by means of the ideas of market and buyer growth. Levitt’s evaluation of Ford’s meeting line and mass manufacturing is one other notable side.

In abstract, ‘Advertising Myopia’ is an distinctive article that I extremely advocate studying. In the event you haven’t learn it but, I hope my notes encourage you to take action (HBR has the entire model on-line without spending a dime). For individuals who have already learn it, I hope these notes spark new ideas and reflections