8 Failed Products from the World’s Biggest Companies
Of course, we all know that launching a product is not as easy as many people think, and even though you already have a big company and brand, the process of launching a new product can be tough at times, as well as commercially unsuccessful.
It’s no secret that even the biggest companies in the world, such as Amazon or Apple, can have the occasional flop, but it’s important to learn from your mistakes, because otherwise, you could go bankrupt. According to Amazon CEO Jeff Bezos, “Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures.”
Having a famous company comes with a lot of responsibilities. Big brands and firms have their advantages, as well as their disadvantages. For example, people can use some products just because they trust your brand, so in some cases, the name of your brand is more powerful than the product itself, so people will buy your items. Of course, huge companies have enough resources to experience things and create new products, so if they fail at something, the loss won’t be that great. However, for a small company, a commercially unsuccessful product can be a real loss that can bankrupt the firm.
That being said, it’s important to understand that even famous companies can make mistakes from time to time, and the truth is that they don’t always create successful products. So, even if the firm is well known as an expert in a certain field, they can create products that are not commercially successful as well. Plus, there are also companies that want to push past their limits and create products that are not part of their niche, proving to be a bad idea later.
Hence, these companies show us that pushing the boundaries can be embarrassing sometimes, but also that making mistakes is normal, even if you are already famous. Read on for more information!