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Q: How can a firm avoid marketing myopia? Explain.
A: Thus, another effective way to avoid marketing myopia is with diversification. I have heard many times people giving me advises such as “Do not bite off more than you can chew” or the well-known saying “Jack of all trades, [ master of none.” That might be a good advice for other aspects in life but business. Today’s biggest empires and leaders of all industries have proven that diversification
is a must do. They are competing in various trades now, yet they are mastering at least one of all markets. Pepsi-Cola and Nike are the best example in this matter. Pepsi Cola Inc. went from being the long-lasting runner-up (always falling behind Coca Cola) until Pepsi Cola decided to diversify. The company began to penetrate into different markets like chips and soft drinks. Currently, Pepsi Cola is second in the market in carbonated drinks, but they become the leaders in soft drinks and chips making almost double the amount of net income last year 2010. Nike Inc. has also chose to redefine their company beyond what it was the original or initial product. Nike Inc. has successfully diversified their products becoming one of the leaders in the sports gear and apparel industry. ]
Expert answered|agay18|Points 230|
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Asked 7/16/2013 1:07:20 PM
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