Many companies, like Kodak, prioritize short-term performance metrics over long-term strategies, leading them to miss emerging opportunities and decline in the market.
Marketing myopia manifests when firms prioritize immediate results at the expense of substantial market changes, thus falling behind competitors who are more forward-looking.
By focusing narrowly on existing customers and current products, companies become unaware of changing consumer behaviors and emerging technologies that could dictate future success.
The lesson from Kodak's decline emphasizes the necessity of balancing short-term achievements with an expansive view of future trends and evolving market demands.
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