Which Of The Following Is Not A Core Competency

Which Of The Following Is Not A Core Competency

Solution To The Multiple Choice Question (MCQ) “Which Of The Following Is Not A Core Competency”

The correct answer is “C. Marketing Myopia”, as Marketing Myopia focuses on company’ products or services rather than on the benefits or satisfaction which the company can provide to consumers. It lacks consumers’ needs, wants and demands and as a result the business may lose many new consumers and unable to capture high customer value for new available opportunities created in the market. Companies follow market myopia can't influence customers and as a result the business can't grow and satisfy customer demands during the entire life cycle. It is not the right marketing strategy to run and promote the business. To run the business successfully, market myopia should not be applied as it lacks customers satisfaction and this marketing strategy adopts the product or service without updating or innovative changes. Few examples of Companies face market myopia due to lack of innovation and not adopted to new market trends include Nokia, Kodak, Yahoo and Blackberry.

More About Marketing Myopia

How To Overcome Marketing Myopia

Ignoring customers needs and wants and focus only on company's products or services is not the right marketing strategy. The company must see what the customers want from the company and what is the best for both business and customers. As the company lacks innovation, so it must adapt to new technologies and tools prevailing in the marketplace so that the business can grow and meet new challenges and satisfy new customers' needs and demands. Also look for healthy competition so that what can the company do to improve its product or service as compare to its competitors in the similar product or service category? What the competitors are doing to improve the quality of product to meet customers' wants? Then the company should also adopt the marketing strategy to do better than its competitor do in the marketplace.

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