A Collection of Articles Related to Failed Products
This page contains a collection of articles related to lessons we can learn from failed products, but first, a few brief points to consider.
There are thousands of products that hit the market every year. Some of them are very successful, while others fail.
Why do products fail in the market? There are many reasons; I’ll go over five that come to mind.
I’ve heard ideas for products people come up with all the time. To them, it sounds like the greatest thing in the world. The problem is they think it’s great, but no one lease does.
If you plan on creating a product, do your market research to see if people want it before you spend time and money developing the product.
There was one marketer that had a smart approach; before creating an info product, he created an advertising campaign, and based on the results, he would decide if it was worth moving forward or not. Even though he didn’t have a product, he could test the market before the development phase.
Price play’s a vital role in marketing, and getting the price right takes testing to determine the best price range for your product or service.
If the price of your product is too high, you will have a difficult time making any sales. You’ll need to lower the price, or you could try adding value to your product.
If your price is too low, then you could scare off your customers because they think your product is inferior because of its low price.
Poor Performance or Quality
Products that perform poorly will fail on the market. Especially today. People can easily share the experience they had with your product, and a viral post can harm your product’s reputation to the point where you need to take it off the market.
Test the quality of your products and services before releasing them to the public. Finding faults during the development stage is a lot better than finding faults once the product is on the market.
You can have a test group try out your product or service and give you feedback. Based on the feedback you receive you can make improvements.
Your timing could be off, and you may be too late because a competitor has already released a similar product, and the market share is not strong enough for a newcomer.
Another scenario is you are ahead of your time. Image trying to market a cell phone in 1950, you would fail.
Some products released to the market are strange and may get a lot of publicity, but they don’t sell. One reason is people don’t accept it because the company is known for a specific product line and anything else will be hard to sell to their customer base.
Below are a few examples.
- Colgate Frozen foods
- Ez Squirt Purple Ketchup from Heinz
- Crystal Pepsi, 1992
- Cheetos Lip Balm, 2005
- Thirsty Cat & Thirsty Dog
- Jimmy Dean Chocolate Chip Pancakes and Suagauage
- Cosmopolitan Magazines Yogurt
- Gerber’s Singles Baby Food – Babyfood for adults
- Smith & Wesson Bicycles
Your product must be something your current customers accept.
This post focuses on failed products. Going through the videos and articles will give you valuable insights into why certain products failed in the marketplace. You can use this knowledge when creating your products and avoid the same mistakes.
Have a look at the list of resources below that focus on failed products. Be sure to spend some time on the videos that highlight many failed products.
Sections Included In This Post:
- List of Failed Product Launches
- The Latest about Failed Product Launches
- Books Related To Failed Product Launches
- Tweets Related To Failed Product Launches
- Videos Related To Failed Product Launches
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