In our last blog post, we took a look at a number of struggling products in the beer industry. We made the not so outrageous prediction that some of these beers “likely will not be available in the next few years.” In other words, these beers are heading to the marketing boneyard. There they will join thousands of other products whose product life cycle has come to an end.
Inside the boneyard, there rests two types of products. One group entered the boneyard having aged well. They lived a satisfying and successful life that brought their marketer considerable wealth. Their entry into the boneyard was largely the result of their customers getting old and younger customers seeking different benefits.
The other group in the boneyard are products that were once envisioned by their marketer as having a potentially long life. Unfortunately, these products never met expectations thanks in large part to poor marketing decisions, defective design or thousands of other reasons. And standing tall over this group are these 10 failures presented in this 24/7 Wall St. story. The failed products discussed represent some of the classic marketing mistakes including New Coke, Edsel and Apple’s Newton. The story provides a brief explanation of each failure, which in some cases resulted in losses in the billions of dollars.