One of the effective ways the largest corporations stay competitive in the marketplace is through product innovation. However, it doesn’t always work when big brands design inventions. Large companies and entrepreneurs often take risks hoping for success but do not achieve it always. Are you aware of failed products due to poor marketing? Continue reading to explore more about failed products by famous brands.
Product Launch Fails of All Time
Recent product failures lead to complete financial ruin or permanent damage to the company’s reputation. In some instances, the disappearance of an item from the market will take around a year or decades. From New Coke to Google Glass, here is a list of failed products by famous brands.
1. New Coke
Coke lost market share to Pepsi in the early 1980s. The Pepsi challenge ads attracted customers during that period. Following this, Coca-Cola designed a new product that tastes similar to Pepsi. But it was an extreme flop of all time and met with public outrage. New Coke was abandoned after a few weeks and the company reintroduced the older formula with a new product name Coca-Cola Classic.
Which of the following year did Coke lose its market shares?
- A. 1900
- B. 1980
- C. 1950
- D. 1890
2. The Newton
The first personal digital assistant (PDA) was the biggest flop ever in the late 1990s. In 1992, Apple company invented the Newton MessagePad. Within the first four months, the company sold 50000 units of this product in the market. The Newton incorporated a pen-based touch screen and the capability to sync with personal computer software. This paved the way for the ending of the product in 1998.
3. Coors Rocky Mountain Sparkling Water
The most popular beers in the US are Coors Light and Coors. In the 1990s, Coors Brewing Company introduced Coors rocky mountain sparkling water in the market. Customers were confused about the Coors brand name in the water that it contains alcohol. Eventually, Coors rocky mountain sparkling water expired in 1997.
4. Arch Deluxe
In the mid-1990s, McDonald’s faced a sales drop due to competitive rival brands like Wendy’s and Burger King. So, they introduced Arch Deluxe and spent $200 million on advertisement. When the product entered the market, customers were not interested which makes an expensive product flop in history.
5. Google Glass
An eyeglass with smartphone capabilities named Google Glass was announced by Google in 2012. The main motive behind the product was to provide wearable technology for customers. After two years of disappointing sales, the product was removed from the market in 2015.
All these are failed products by famous brands due to specific reasons. A company product is marked as a failure when it does not sell, or meet expectations and plan. Entrepreneurs must think about success and failure.