Theodore Levitt’s contribution to marketing is undoubtedly...

Theodore Levitt’s contribution to marketing is undoubtedly un-measurable in any quantity, un-describable in a matter of words and unfathomable to any one who did not have the chance to meet the legendary scholar. The German moved to America after serving in the Second World War, where he received a PhD from the Ohio State University in economics. He later acted as a Professor in Harvard Business School and went on to become an editor for the â€Å"Harvard Business Review† (1985-1989). Through the captivating articles he wrote for this, he changed the face and idea of marketing completely. What could have once been summed up in four Ps; price, product, place and promotion, now had depth, dimensions and true meaning. In a few short pages†¦show more content†¦The vision of a business is too narrow and constricted by its understanding of what business they are in (Levitt 1960) and advised that they broaden their horizons and open there markets in a new way. H e insisted that companies did not fail due to market saturation but due to a fault in management. He used the clever example of a train, describing how it had lost out to the airplane and the car because it thought it was in the business of running trains rather than that of providing customers with transport. Businesses do not start with a product, they begin with a consumer need, so why should their strategy be product based rather than customer orientated? A business can produce millions of products or provide endless services but all are useless without an audience to sell to. The scholar made his argument that consumers are king aggressively, practically and powerfully. People in business realised that they had missed opportunities because they were approaching the markets from the wrong end. Levitt’s article marked the beginning of a modern market movement. Rather than looking at a business in the short-term and the main focus being placed on making profits, Levi tt looked at a business in the long-term and focused on building the success of a company which could only be achieved through customers and their degree of satisfaction. Levitt’s contributions to marketing, through the contents ofShow MoreRelatedStrategic Marketing Management337596 Words   |  1351 PagesStrategic Marketing Management Dedication This book is dedicated to the authors’ wives – Gillian and Rosie – and to Ben Gilligan for their support while it was being written. Acknowledgements Our thanks go to Janice Nunn for all the effort that she put in to the preparation of the manuscript. Strategic Marketing Management Planning, implementation and control Third edition Richard M.S. Wilson Emeritus Professor of Business Administration The Business School Loughborough University