The concept of marketing myopia refers to short-sightedness and complacency of marketers in adapting to market changes.

• A. Marketing myopia.
• B. Market orientation.
• C. Product differentiation.
• D. Brand development.

Answer: (A)

Marketing myopia describes a shortsighted approach where a company defines its business in terms of a specific product rather than in terms of the benefits it delivers to customers and how the market is changing. This leads to complacency and a failure to adapt as consumer needs, technology, or competition shift, which can cause the business to miss new opportunities or even decline despite continuing demand in the broader market. A classic illustration is railroads thinking they were in the railroad business, not the transportation business, and thus overlooking the rise of cars, airlines, and trucking. Market orientation, by contrast, focuses on gathering and acting on market insights; product differentiation and brand development center on making a product or brand stand out. So the concept that matches the description of short-sightedness and complacency in adapting to market changes is marketing myopia.