What business is your company really in?

That''s a question all executives should all ask before demand for their firm''s products or services dwindles.

In Marketing Myopia

Theodore Levitt offers examples of companies that became obsolete because they misunderstood what business they were in and thus what their customers wanted. He identifies the four widespread myths that put companies at risk of obsolescence and explains how business leaders can shift their attention to customers'' real needs instead.