16 Once-Ultimate Products That Have Fallen from Grace!
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Do you recall when the BlackBerry was a must-have accessory for business people or when it seemed that Google Glass was the next big thing in fashion accessories? Well, as it happened, not all products have longevity like the wheel. Especially today, nothing is sacred, and what can rule the roost one day can be left to fade away slowly the next.
Of course, for an entrepreneur or a marketer, these stories are fun to know and highly informative in their bid to survive and conquer. Here are 16 iconic products that are no longer on the market but were on their way to dominating it a couple of years ago.
The Rise and Fall of BlackBerry
In 1999, BlackBerry revolutionized business communication. Its innovative keyboard design and unimaginable email strength made possession of the device a necessity for every serious businessman. However, BlackBerry was left behind as smartphones evolved. The most significant blow came with the advent of touchscreen technology.
While competitors had adopted this new phenomenon, BlackBerry stuck to the keyboards, which in turn forced the company to pull out of the smartphone production line in 2016.
There were three causes of BlackBerry’s decline.
First, it failed to sufficiently predict the growth of the touchscreen. Second, it is hard to compete with the operating systems, which are iOS and Android that were developed for various devices. Lastly, they failed to create an app environment with many and often interesting applications for their BlackBerry smart phones.
Microsoft’s Zune Misstep
In 2006, Microsoft entered the market with Zune, which was thought of as the biggest competitor to the iPod from Apple. With its modern look and such features as wireless song sharing it was to become a hit on the market. Sad to say, its total revenue in late 2008 declined to 54 percent of the prior amount – the final nail in the Zune’s coffin.
It is possible to cite a number of reasons why using it became a failure. It was only compatible with Windows, limiting its user base. However, it lacked unique features that could set it apart from the iPod, failing to create a unique image in the minds of consumers.
Google Glass and the Quest for Futuristic Eyewear
Google Glass could be considered one of the pioneers in the world of smart eyewear. Starting with much hype, it was meant to become the missing link between people and technology. However, in 2015, this noble idea was confined to the dustbin due to privacy issues, technical failures, and high cost.
People were uncomfortable with a device that can intrude one’s privacy by recording both videos and audio. Along with that, it had bugs and poor battery life, which is why Google Glass never gained mainstream adoption.
RadioShack’s Retail Woes
RadioShack was an electronics retailer for 50 years. However, as Amazon and Walmart started to grow large, RadioShack could no longer compete. As smartphones were rising, many of their products became obsolete, and it was bound to decline.
The lesson here is clear: Retailers need to stay relevant by constantly adapting to technological advancements and consumer needs. It all came down to RadioShack not pivoting or innovating.
Toys R Us and the E-commerce Challenge
At one time, Toys R Us dominated the toy industry until an unfortunate exclusive deal with Amazon stalled its own e-commerce development. But when that contract expired, it was too late for Toys R Us to jump into the fast-moving business of online retail.
The takeaway? There is no place for underestimating e-commerce. To compete, it’s important for businesses to invest early and consistently on their digital platforms.
Hummer’s Fuel-Efficiency Fiasco
At one time, the Hummer was synonymous with luxury and status, but it became a victim of the 2000s when everyone shifted to hybrid cars. Exploding energy costs also considerably affected the previously popular Hummers because the cars are notoriously fuel-inefficient.
Hummer’s death is a warning to align with the market trends and to meet its consumers’ values, as they are about sustainability.
Segway’s Balancing Act
When Segways were introduced to people, everyone was given the impression that they were going to be the next big break in personal transportation. But despite this, they never reached the popularity that would make them an ordinary element in people’s daily travel. Most consumers felt that Segways were not required at all and were even too costly compared to conventional modes of transport.
The lesson? Innovation has to really solve a real problem. Even the most innovative of products have a hard time getting to market without addressing a pressing consumer pain point.
MapQuest Lost Its Way
MapQuest was one of the front runners in providing mapping services over the internet. That was true until Google Maps and Apple Maps appeared on the market with considerably better interface and options – this left MapQuest behind. Due to its inability to innovate, and keep updating the format, and simplify its layout for users, it became obsolete.
The MapQuest story teaches the most important lesson: usability. As we know today, a smooth and clear interface for the Internet is crucial.
Netscape Navigator’s Browser Battle
Back in the 1990’s, people simply couldn’t go online without Netscape. However, when Internet Explorer came in along with the windows operating system, business for Netscape was doomed.
Unfortunately for Netscape, the browser maker that actually started the phenomenon, Microsoft upped the ante and ensured its browsers were pre-installed on almost all PC’s sold. This emergence underlines the importance of flexibility in operating and, more so, the choice of the right strategic partners in achieving market share.
Toshiba’s Tech Troubles
Toshiba was once a tech titan of the 1980s but struggled in the age of online competition. It eventually quit making PCs for European consumers after it couldn’t keep pace with advancing devices and changing market cravings.
Toshiba’s story demonstrates that it is helpful to remain up to now as new technological advancements are found.
Samsung Galaxy Note 7 and Its Explosive Retirement
The Galaxy Note 7 was well on its way to becoming a flagship phone until news of the burning batteries came out. Analyzing the impact of the failures, Samsung had to recall 2.5 million phones, resulting in the company’s image degradation.
To the business, this serves as a rude reminder that testing and quality assurance must be done before products hit the market.
New Coke’s Short-lived Legacy
In the 1980s, Coca-Cola tried to outdo Pepsi with its New Coke. However, it backed out after loyal customers were not happy. We learned that brand loyalty is important, and change comes at a price.
Knowing who your customer base is and how they want to be served will help you sustain your success.
Exploring the Implication of Crystal Pepsi
Crystal Pepsi was an experiment in the early 1990s: it was a clear cola with no color. Despite all that marketing, consumers could not be persuaded.
The consequences of straying too far from a product that customers recognize and rely on are made clear in this example.
Amazon Fire Phone’s Flickering Flame
The Amazon’s Fire Phone had a mere 13 months on the market and was generally unremarkable and hard to find. It just could not challenge other more rooted smartphone market players.
For the young companies that wish to be future tech titans this is the perfect story of how innovation and market positioning work.
Nike’s FuelBand: The Fitness Flop
In 2012 Nike entered the wearable tech market with the FuelBand that failed to convince consumers of its necessity. As more options became more versatile, the FuelBand became obsolete.
The lesson here is that in a competitive market, you require ongoing product development and differentiation.
Juicero’s Squeezed-Out Success
Juicero’s $699 Wi-Fi-connected juicer was to bring novelty to people’s kitchens, but it came crashing down when people learned that its pricey packets could be compressed by hand. It became the epitome of the Silicon Valley excess.
Juicero just reminds us that hype doesn’t amount to anything if there isn’t real value behind an idea.
Disclaimer – This list is solely the author’s opinion based on research and publicly available information.
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