By defining its business as "making movies" instead of "entertainment," a Hollywood movie studio would have experienced:

Question

Quizplus · Accepted Answer

Defining the business too narrowly as "making movies" instead of the broader category of "entertainment" can be seen as an example of marketing myopia, where the focus is on the product rather than the consumer needs and wants. This could lead to missing out on opportunities to diversify and expand into related areas of the entertainment industry, such as television or streaming services, which could ultimately limit the studio's growth and success.

By Defining Its Business as "Making Movies" Instead of "Entertainment