No matter the company big or small, they will inevitably come across a “flop” with one of their products. A “flop” or a failure of a product can be caused from factors like a competitors product are favored or the product has certain glitches while on the market. For example Coca-Cola, one of the biggest companies, was trying to stay ahead of Pepsi by trying to make a product taste more like Pepsi this product was called New Coke. After a few weeks of New Coke being on the market they decided to return to their original formula and changed the name to Coca-Cola Classic, instead of completely changing their product they realized changing their adverting tactics would be the key.
Another example of this is the Apple Newton. It was suppose to be the first handheld computer that had a radio, work on a pager frequency and be able to recognize handwriting and turn it into text. The problem was between the time they began creating it in 1990 and when they put it on the market in 1993 the handwriting feature didn't work very well and the price was $700 for a product that was not even strong enough for the cost. The technology they were trying to create was ahead of their time but now that technology is used in devices we use today.
Another example of this is the Apple Newton. It was suppose to be the first handheld computer that had a radio, work on a pager frequency and be able to recognize handwriting and turn it into text. The problem was between the time they began creating it in 1990 and when they put it on the market in 1993 the handwriting feature didn't work very well and the price was $700 for a product that was not even strong enough for the cost. The technology they were trying to create was ahead of their time but now that technology is used in devices we use today.
There have been many other product failures from companies like Microsoft, McDonalds and Google. The important part of business is the fact that sometimes a failure is actually a good way to push you company forward.
“I have not failed. I’ve just found 10,000 ways that won’t work,” Said Thomas Edison.
By: Jordan Liddle
Yarow, Drake. "22 Of The Most Epic Product Fails in History." Business Insider. Business Insider, Inc, 31 July 2014. Web. 11 Oct. 2015.
"Remembering the Apple Newton’s Prophetic Failure and Lasting Impact." Wired.com. Conde Nast Digital. Web. 11 Oct. 2015.
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ReplyDeleteVery interesting post! I liked the examples of failure you gave about the big companies. Adding the link to the post is a good idea; actually I didn't know that all of these companies have failed before.
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