A large company or brand has a greater capacity for risk taking. In spite of the fact that investing thousands of dollars into market research as well as advertising campaigns can result in impressive successes, such ventures may as well turn out to be a blueprint for most miserable failures.
Most firms frequently launch new products in reaction to a successful competitor’s idea. However, such products may fail if they don’t meet the standards of the competing groups. To make out a number of the worst product failure of all time. We now dive deep into the top 10 worst product failure ever.
Edsel was released in 1957 by Ford Company with a cost of at least $350 million. Edsel was an attempt by Ford to provide high-end vehicles for clients looking to upgrade. Unfortunately, Edsel was so expensive at the time that it didn’t sell out living the company in a significant loss.
It was introduced in July 2011 to battle out with Apple’s iPad. In spite of the large scale press promotions and events, the TouchPad was an epic failure that was terminated almost immediately after the launch.
3. The Clairol Shampoo.
Released in 1979 by Procter and Gamble Company, the product contained various natural ingredients. Nonetheless, consumers did not like associating dairy with the hair product. The brand sold poorly and didn’t pick sufficient momentum to sustain it in the market.
4. Crystal Pepsi
Released in 1992 by Pepsico, the company sponsored the Crystal Pepsi as a straightforward and healthy diet beverage. However, many of the sales were probably due to curiosity. In the long run, the product did not penetrate into the market hence led to massive losses to the company.
5. Arch Delux
The McDonald’s company spent over $100 million in advertising the product. However, it was too expensive compared to substitute products. The failure was so epic that McDonald’s revised its strategy of introducing pricier items.
The Microsoft product failed to battle out with Apple’s well-established iPod brand. In 2009, hundreds of Zunes froze due to software glitches. Microsoft then abandoned the Zune brand to end the massive losses that had preceded its launch.
7. WOW! Chips.
In an effort by PepsiCo to provide healthy as well as less fattening junk food, it turned out to have unpleasant effects on the body. In the long run, the consumers rejected it because it couldn’t meet their expectations.
8. New Coke.
The Coca-Cola created its first recipe to alter its original flavor in 99 years. Unfortunately, the company lost over $30 million and $4 million in the concentrate of the new formula and testing respectively.
9. The Newton MessagePad.
Launched in 1993, the Apple’s Newton MessagePad met with favorable reviews and excitement. Nevertheless, Newton’s handwriting feature ruined the product and led to its discontinuation in 1998.
10. The Coors Mountain Sparkling water.
The Adolph Coors Company embarked on selling spring water in response to an inclination towards moderate alcohol intake and development in the bottled water sector. Although the venture benefited from the firm’s present bottling logistics as well as distribution, the brand did not sustain the sale of bottled water; consumers criticized the product for using the similar name to Coors beer. As a result, in 1997 Coors revoked their bottled water trademark.