We’ve all seen and remember those ads and products that never really took off that came from promising companies. How did enterprises with so much to spend on marketing, research, advertising, and even bookkeeping services get it so wrong? We don’t necessarily know the details of how, but we do know who and share just a few below.
1. New Coke
– The ball allegedly began rolling for New Coke when inaccurate taste tests showed that people preferred it. However, after a huge campaign featuring then mega-star, now social pariah Bill Cosby, the little study was proven wrong after millions were lost on the new item. Turns out just about all of the people really did like the old Coke just fine. Read more on the official Coca Cola site.
2. PC Jr.
– While IBM gave us amazing devices later in their tenure, this one was quite the fail. Billed as a junior version of the personal computer, it was not sold for anywhere near a junior price. The tag was at $699, which was worth much more back in the eighties and was nearly twice the price of competitors. While a Mac device can cost twice as much as a PC now, you can make the argument you get your money’s worth, which was not true of this device – think if Apple charged more for an iPad mini vs. the regular version.
3. Lisa
– Another entry from hit or miss Apple, this computer was one of the first to offer a mouse and disk drives that allowed you to store unlimited information. So what went wrong? The creepy commercial featuring a supermodel and horror music didn’t help. The fact that legendary Steve Jobs was taken off this project and assigned to the incredibly successful Macintosh was most likely the killer.
4. EV1
– This was the first mass produced electric car and was built by General Motors. It was built when California had a mandate on making a zero emission vehicle if you wanted to sell other cars in the state. Its bulky shape, enormous price tag, and the fact that you could only lease one all led to its demise.
5. XFL
– This massive sports franchise was supposed to be a blend of NFL and professional wrestling. While many fans enjoyed both of these sports, no one seemed to enjoy this hybrid. In addition to games with odd rules, players often shot “promos” much like wrestlers where they boasted about their skills. By the end of the first year, the plug was pulled by its founders.
6. Euro Disneyland
– With so many Europeans coming to America to visit Disneyland, what could go wrong with opening one there? This was the idea behind the concept that was Euro Disneyland. Located in Paris, it was estimated that half a million people would visit on opening day. When only 25,000 people showed up, Disney knew they were in trouble. Unable to keep employees on the payroll, 3,000 of them would walk off the job. It is still in operation today under the name Disneyland Paris but still has billion dollar debts.
7. Betamax
– The eight track of the video era, Sony’s Betamax allowed people to record and playback videos on their televisions, revolutionizing an industry. However, the more popular and convenient VHS cassettes would eventually win out over their competitor when 40 companies decided to go with them, bringing us to:
8. HD movies
– Now known as Blu-ray movies, the HD discs are the Betamax of the high definition era. Although practically identical to Blu-ray, they simply lost out when more movie and television shows increasingly switched to the Blu-ray format.
9. Laserdisc
– Remember when CD’s where the size of LP’s and they could play your favorite movies? Neither do most people, even in my generation. Laserdisc was the first attempt at movies on disc. However, the large, awkward discs themselves were way too big, and the players were hugely expensive, not to mention the discs themselves had limited availability.
10. The Arch Deluxe
– Want a gourmet hamburger? Don’t go to McDonalds. However, the opposite was their line of thinking when they introduced the Arch Deluxe, the fast food version of a gourmet burger. It was aimed at the consumer who wanted more in a burger. It turned out that those people still didn’t want to go to McDonalds no matter what was being sold.
Bookkeeping Services Houston
To learn more about how our expert bookkeeping services can help keep your own business from failing, feel free contact me.