The commercial world is run by competitiveness. Big names in the business world have invested heavily in market research before they introduce a new product in the market. These companies launch either new brands or a rebrand of their current products to fill in a gap in the market or in response to a competitor’s new product launch. They say the bigger the risk the bigger the business but it is also true that the bigger the risk the higher the uncertainties .These experimental introductions have had both negative and immensely positive impacts in some of the already established companies in the world.
Here is a list of top ten failed brands of all times until 2017.
The fall of this once a technology giant can be attributed to several reasons with one of its founders, Yang been a center stage. Lack of focus of whether to a purely media entity or technology company can be said to be the start of things falling apart for Yahoo. This was one of the major reasons why Google took over and with the emergence of the social media wave, Yahoo couldn’t just keep up the pace. In 2004, Yahoo had the chance to revive or rather make some revenue from it but with the chief executive at that time, Mr. Yang, behind the whole deal making scene, a strategic right decision wasn’t made. The lack of innovative and flexible ideas majorly by the founders finally led to the fall of once a success story of the Silicon Valley.
The launch of the Motorola RAZR was sort of the start of the fall of the Motorola mobile phone manufacturing sector, an subsequently, the fall of Motorola as a household brand. Motorola were reluctant to improve on innovation on the devices and with a feeling of complacency, the Korean companies soon took over with the surge of the android technology as from 2009.Steve Job’s launching of the IPhone, together with up shake of the cellular market with the Black berry just blew things off for Motorola . To try to save the sinking ship, Google bought Motorola to salvage the lost glory in the market share. Now with its products branded with stickers, Motorola-a google company, Motorola went ahead to launch several other gadgets but with a little success. In January 2014, Lenovo took over the Motorola Company from Google even though up to date they have not launched any new product yet.
8. Eastman Kodak
The American film and camera company was founded in 1888 by George Eastman. For more than a century, Kodak was the household world-wide for its advancements in the photography world. Complacency in the generation of the 35mm Kodak film and sluggishness in investments in development of the digital cameras can be blamed for the start of the down fall of Kodak. With the focus solely on trying to maximize the profits from the film manufacturing segment, the management team started to diverge part of their investments into the pharmaceutical world. Even though Kodak was the inventor of the digital camera, the team didn’t invest on this new invention, rather continued to increase on the sales and the profits of the film sector, which was eventually faced out by other companies like Sony, Nikon Fujifilm. In 2012, Kodak finally filed for bankruptcy.
Founded in 1985, blockbuster was a provider of home movies, video games rental through rental shop, DVDs, video streaming and cinema theatre services. Before Netflix and companies like Red box took over, blockbuster was the number on provider of rental video in America. Fast forward to the present times. Netflix has become a house hold name in Video and movie streaming. The market just proved to be too innovative and Blockbuster couldn’t bow to the pressure and so it had to bow down.
In the past Dell really did well and also managed to do away with the middle man and hence increase the profits they had. As more mobile devices were created and people could now do more with a phone, there was a down fall of the sales on Dell products which has tremendously reduced the brands’ sales ,putting the firm at greater risk of closing.
Established in 1946 in Tokyo, Japan as Tokyo Tsushin Kogyo K.K, Sony is currently struggling to maintain its position in the global market map. The Japan’s power house in manufacture of television sets, audio and video devices has been caught up in the age of ground breaking technological innovations. One of its profound innovations was the Walkman, a signature music player, which has now become a thing for the archives. Other companies like the giant USA Company, Apple seemed to have took over with the launch of the IPod which revolutionalised the music listening industry. The company lagged behind in innovation and needs to transform to try and catch up with the current pace setters in the industry.
4. Ben Gay Aspirin
The analgesic drug was a pharmaceutical product from the USA drug giant, Pfizer. Initially this drug was been produced as a cream for relieve of muscle, back and arthritic pains. The brand was first intensified, but with a similar formulation. Later, Pfizer decided to make a transition to a totally different dosage form, and BenGay Aspirin was released into the market. The new form of the initial drug failed miserably. Consumers could not just swallow a pill with the name of a once a pain relieving balm.
3. Crystal Pepsi
From the makers of the world renowned soft drinks, Pepsi, this brand of the Pepsi Company didn’t just pick as it was anticipated. Despite heavy investments in advertising and marketing, the clear cola didn’t meet the expected market standards and with poor customer reception, the brand was off shelves in less than three years in the market. This new cola was clear but had the taste of the ‘original’ Pepsi. In 2014, rumours started to crop up on the possibility of the clear brand making its way into shelves again but until now, those have just remained to be rumours. So for nostalgia enthusiasts, just keep your emotions and anticipations at bay.
Named after the son of the ‘father’ of the auto world, Henry Ford, this car model was only available in the manufacturing line for two years(1958-1960).The hype and the anticipation built by the advertisement of this car didn’t match to what the company presented to the consumers two years later. The consumers claimed that the car didn’t live to their expectations and Ford had to stop the manufacturing of this automobile. It seems like Ford did learn from the ford oddity with future successes in both the Ford mustang and more recently, the Taurus, which have been a huge success.
1. New coke
The number one manufacturers of soft drinks have had a taste of cold reception of their products in the market. In the 1980s, Coca cola decided to scrap off the classic coke ad introduce the New Coke. The result was a total failure and the company was forced to relaunch the original Classic Coca Cola. The new sweetened coke was likened to the Pepsi cola but the adamant Coca-Cola drinkers couldn’t just swallow that, literally. With falling shares in the New York Stocks, Pepsi, Coca cola’s old time competitors were taking over the soft drinks industry. With a dying brand at stake, Coca cola had to revert to the old formulation and soon, business was back to normal
With the proper market research, chances of a successful new business venture are higher but in some instances, things don’t always turn out as anticipated .This has forced some companies to either rebrand totally or change the way of business including a total change in the products they provide to the consumers. Some have eventually taken the nose dive totally and their names can only be read in history books, as has been the case in the just discussed brands.