Marketing myopia is a term that refers to the tendency of businesses to define their market so narrowly as to miss opportunities for growth. It is a short-sighted and inward approach to marketing that focuses on the needs of the business rather than on the needs of the customer. This can lead to businesses making decisions that are not in the best interests of their customers or that fail to take into account changes in the marketplace.

Marketing myopia can occur due to several reasons, including a lack of understanding of what customers really want, a lack of investment in marketing research, and a failure to keep up with changes in the marketplace.

The concept of marketing myopia was first introduced by Theodore Levitt in a 1960 Harvard Business Review article. Levitt argued that businesses should focus on the needs of the customer rather than on the product itself.

Examples of industries that have experienced little or severe downfall due to marketing myopia include the video rental industry, which was dominated by Blockbuster LLC, an American company, in the early 2000s. Blockbuster failed to adapt to the emergence and popularity of online streaming services, such as Netflix, and filed for bankruptcy in 2009.

To avoid marketing myopia, businesses should take a step back and avoid becoming too immersed in their immediate needs that they lose sight of their consumers, their industry, and changes in the economy. They should make time to follow business and financial news and keep up with changes in their industry.