Big Brand Failures; What We Can Learn From Them
For your brand and business to survive in the competitive market, good marketing strategy is the most effective way. But when the marketing strategy goes wrong then the pyramid structure goes all down turning your brand into a deep failure. Maintaining the brand value and retaining is a hard task and a long journey. For some giant brand are a source of inspiration. And their inspiration is all about their strategies to maintain the position. There are several brands that were once soaring the heights but have now reduced and gone down to the ground level. With mistakes at stake, there are some lessons that can be learned from them. Because at last, we are humans and learning from mistakes is our birthright.
1) Kingfisher Airlines:
Kingfisher was once one of the top- notch airlines companies that were touching skies in the past. It was the 2nd largest airline in terms of service, carrying passengers, quality of service etc. Their marketing strategies included promotion over all media sources like television, radio, print, even in their flight magazines etc. but at last, the company was in heavy debt of about 934 Cr. INR. And the unnecessary burning of fuel were some of its drawbacks that it failed in the future and that went wrong and the major cause of its failure.
With American technology in hand, Kodak cameras were the first to be launched. Kodak held a dominant place in the photographic film structure. The marketing strategy included the most famous campaign of Kodak where it targeted the audience by saying” You press the button, we do the rest”. And what went wrong is the invention of technology which backfired the invention itself. It actually could not catch the actual nerve of the people and the modern technology as well. They also failed to keep up at speed with their rivals Fujifilm.
With so many companies evolving Nokia was one such which started to please people with its electronics. This company was responsible for making the first digital phone in the world. The marketing strategy included the launching of colored phones and making of first GSM calls that made its place stronger in the share market and that made it more prominent and ranking in top 5. What made its failure is the launch of iPhone in 2007. Earlier Nokia had a large target audience in hands but with the launch of iPhones it swayed the audience and that was a major setback for them. It used to be the leader of the market where Samsung was nowhere to be seen. And now it has been acquired by Microsoft and now we can see new inventions and changes in android and iOS development in phones with the developing time.
MTV is the oldest brands and well known today with its television popularity ranking. But now the music streaming popularity has gone down but the name of the brand continues to make its name. The best part of their marketing strategy is that they have adapted themselves to the changing trends and they keeps on changing their strategy which enables them to evolve and which gives them immediate results.
So these were some of the brands that faced breakdowns, shutdowns and much more because their digital marketing strategy was not that good as expected by the people. There were several flaws in their strategies that made them into a failure. Maybe their products did not match up to the expectations of the people or maybe they launched something that did not meet the actual needs.