Seminar 5 Marketing Myopia Quiz

What is marketing myopia?

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Answer explanation

Narrow focus on selling a specific product/services rather than understanding and meeting the needs of the customers

Sebastian, a marketing manager, is planning a new campaign. He is considering the impact of decolonisation on his marketing strategies. How might this affect his approach?

(a)  

• It challenges traditional narratives, promotes diversity

• It perpetuates power imbalances and inequality

• It reinforces traditional narratives and excludes diversity

• It has no impact on marketing strategies

Anaya, Harry, and Isla are part of a team led by a manager who is known for his narcissistic behavior. What could be the potential impact of this manager's behavior on the team dynamics?

• The narcissistic behavior of the manager can improve the team's morale and increase collaboration among Anaya, Harry, and Isla.

• The narcissistic behavior of the manager has no impact on the dynamics of the team consisting of Anaya, Harry, and Isla.

• The narcissistic behavior of the manager can enhance the work environment and boost the morale of the team members Anaya, Harry, and Isla.

• The narcissistic behavior of the manager can create a toxic work environment, decrease the morale of Anaya, Harry, and Isla, and hinder their collaboration.

What are the potential drawbacks of marketing myopia?

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Answer explanation

Limited market opportunities, failure to adapt to changing consumer needs, and missed opportunities for innovation.

Discuss the importance of decolonisation in marketing strategies.

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Answer explanation

Promoting diversity, inclusivity, and cultural sensitivity

Jacob, Leo, and Poppy are working on a new product development project for their company. They want to avoid marketing myopia. What key factors should they consider to achieve this?

• Being resistant to change and innovation

• Understanding customer needs, focusing on long-term customer satisfaction, staying updated with market trends, and being adaptable to changes

• Ignoring customer needs and preferences

• Focusing only on short-term profits

Henry, Emily, and Elsie are running a startup. They are considering decolonising their marketing strategies. How can this benefit their business?

• By limiting their target audience to a specific demographic

• By reinforcing stereotypes and biases

• By reaching a more diverse audience, building trust with marginalized communities, and promoting inclusivity and social responsibility.

• By alienating potential customers

What lessons can be learned from Victor Vane's journey with Starway Enterprises in The Visionary's Voyage?

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How did Starway's transformation from a train operator to a leader in creating enjoyable experiences lead to its flourishing?

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What was Victor's key realization about true leadership in The Visionary's Voyage?

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