Define Marketing Myopia, and Describe How a Company Can Overcome

question 59

Essay

Define marketing myopia, and describe how a company can overcome a myopic view. Give an example of a company before and after changing its view.

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Definitions:

Intuitive Feeling

A decision-making process that is based on instinctive emotional responses rather than analytical reasoning.

Classical Conditioning

A type of learning in which, through repeated pairings, a neutral stimulus comes to evoke a conditioned response.

Associative Learning

The process by which an individual learns to connect or link two stimuli or a stimulus and a behavior, forming new associations.

Instrumental Learning

A learning process in which behavior is modified by the consequences it generates, often involving rewards or punishments to increase or decrease the behavior's occurrence.