Western Governors University (WGU) BUSI3731 VZT1 Marketing Applications Practice Exam

Marketing myopia refers to a narrow-minded approach to marketing that focuses solely on the products a company offers rather than the broader needs and wants of the customers and the market. This concept highlights the importance of understanding the overall market landscape and adapting to changes rather than being limited by one’s current offerings.

The scenario of a department store that views itself strictly as a clothing retailer exemplifies marketing myopia because it fails to acknowledge the broader range of consumer needs and potential market opportunities. The department store may miss out on the possibility of serving customers who are looking for a more comprehensive shopping experience or who seek products beyond clothing, such as home goods, electronics, or personal accessories. This narrow perspective can limit the store’s ability to innovate or expand its offerings, risk losing customers to competitors who provide a wider range of products, and ultimately hinder its growth.

In the other scenarios, while they do represent some level of product focus, they still illustrate markets that allow for broader interpretation. For example, a tech company producing smartphones could also consider related products such as tablets, laptops, or wearable technology, showing potential for diversification. Similarly, a beverage company focusing on soft drinks might have the opportunity to explore other beverage categories, such as energy drinks or bottled water. An airline