Black & Decker is well known for power tools. However, if the company thinks of itself merely as a power tool company instead of a company that delivers the benefits users want, such as cut materials or holes in materials, it could be taking a short-sighted focus of its business. If a technologically-advanced device is developed that could replace the need for power tools to deliver those benefits, this company could go out of business. That is, Black & Decker could suffer from _____.
A) brain drain
B) cognitive dissonance
C) marketing disconnect
D) marketing myopia
E) product devaluation

Question

Quizplus · Accepted Answer

The scenario in the question is an example of marketing myopia, where a company focuses on its products instead of addressing the needs and wants of its customers. Black & Decker may miss an opportunity to develop or adapt to a new technology that could replace power tools and ultimately put them out of business.

Black & Decker Is Well Known for Power Tools