Marketing Myopia

In this article Theodore Levitt explains the term Marketing Myopia.  This relates to growing businesses not worried about their developmental future because of their current growth rate.  The main fault of a myopic business is when a competing product is being developed the business decides not to go after it because of growth satisfaction.  Because it takes a while for the competing product to develop the myopic business does well for a while, but eventually they are over run by the competing product.