What is marketing myopia? What are the short-term and long-term implications for businesses in this situation?

Marketing myopia is a shortsighted approach to business in which companies focus on on sales and other immediate needs. They neglect the need to plan for the future and to prepare campaigns for upcoming seasons.

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In medical terms, myopia means "shortsightedness." If a person suffers from myopia, they will have to wear glasses or contact lenses. In marketing terms, marketing myopia refers to a type of shortsightedness in the business world. Simply put, the term "marketing myopia", first penned in the Harvard Business Review, refers to a state in which a company focuses exclusively on the "here and now." In other words, they focus on sales and immediate needs, and no attention is paid to future needs or campaigns.

While such an approach may lead to increased profits in the short term, the price of these short-term gains will be hefty in the long term. When management fails to keep an eye on the bigger picture and does not focus on future marketing campaigns or the consumers' needs, there can be no long-term growth.

Since companies "suffering" from marketing myopia are focused on the present needs of the company, the short-term implications can include higher profits and greater market share.

However, the "here and now" approach of marketing myopia can have devastating consequences in the long term. For example, focusing solely on spring sales can mean that no preparation is done for summer and fall campaigns. Since photoshoots for a typical summer or fall campaign take place months in advance, failure to think ahead can have dire consequences in the coming seasons.

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