Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?
A) vendor lock-in
B) social loafing
C) value proposition
D) marketing myopia
E) conspicuous consumption

Question

Quizplus · Accepted Answer

Marketing myopia is a term used to describe when sellers become overly focused on their own products and lose sight of the underlying needs and desires of consumers. This can lead to a failure to adapt to changing market conditions and consumer preferences, which can ultimately result in decreased sales and revenue. Other terms on the list have different meanings:
Vendor lock-in refers to a situation where a customer becomes dependent on a particular vendor's products or services and is therefore less likely to switch to another vendor.
Social loafing refers to the tendency for individuals to exert less effort when working in a group than when working alone.
Value proposition refers to the unique benefits that a product or service offers to consumers, which distinguish it from competitors.
Conspicuous consumption refers to the act of purchasing and displaying expensive goods or services in order to signal social status or wealth.

Which of the Following Terms Refers to Sellers Being Preoccupied