Why some products fail in the market?

“Make sure you are building The Right It before you build It right.”

This is very important for new ventures of products because if we are not clear enough about what we want to make and offer how can we guarantee that the customer will get a clear idea and understand our product.

The market is loaded with lots of products and everyday few products gets added on the existing list but very few get success while others just stay as substitute and still others gets removed from the market.
Why does this happens?Why few products are successful while others don't get the taste of success?
So I came with my new Blog about why few products fail in the market.

Its not always that the product made is a failure.A product can fail due to other reasons also.

The philosophy of F.L.O.P can explain it easily why the products fail.It states that product may fail due to Failure of Launch or at Operations or at Premise.
So what does these three means.
First,Failure at launch means that that the product was bought in the right time,at the right place at a right price but the awareness of the product was not there in the market which led to its failure. It happens when not enough awareness is made on social sites,news,other medias etc.So proper preparation should be made in advance of  product launch to make the upcoming product known to the market.

Second,Failure at Operations means that the product had a great launch and initially early adopters accepted the product.But as time passes by there are some technical(reliability,reusability ,durability etc) or non technical defects which gets the product bad reviews and ultimately the customers move away from the product.

Third,Failure at Premise,the products were well built (solid, reliable, stable) and the teams responsible for the launch did a great job; there was a lot of buzz and, sometimes, even strong initial sales and adoption. But after a short while, even though the product did exactly what it was designed to do–and did it well–people realized that they didn’t really need it or want it after all. The people who had already bought it stopped using it, and those who were thinking of buying it changed their mind and went after the next new thing.

There are a few examples that stand out as so colossal you have to wonder what the company was thinking. Still, others seem to have just been a case of bad timing, bad marketing and bad luck.

Product failures allows those in the planning and implementation process to learn from the mistakes of other product and brand failures. Each product failure can be investigated from the perspective of what, if anything, might have been done differently to produce and market a successful product rather than one that failed. The ability to identify key signs in the product development process can be critical. If the product should make it this far, assessing risk before the product is marketed can save an organization’s budget, and avoid the intangible costs of exposing their failure to the market.

Few examples of product failures of different companies are..

• New Coke

The new coke which was bought in by the Coca-Cola company as a strategy to fight the Cola war during the 80s. But sometime the brand name is so important as in this case that the Neew Coke was not accepted in the market and the company ultimately decided to get back to its original name CocaCola.

• Crystal Pepsi

Pepsi introduced this clear cola in the early 1990s. Unlike other clear carbonated drinks, this one didn't have a lemon/lime flavor - yet it didn't quite have a normal cola flavor either. Despite a very expensive media blitz, this see-through soda just didn't catch on. 

• Ford Edsel

Ford came out with the new car named Ford Edsel but the timing for the launch was not correct and hence The Edsel has become synonymous with failure, and it is well known as a marketing catastrophe, but the 1958 recession certainly played a large part in its undoing.

• Mc Donald's Arch Delux

McDonald's also fell prey to this with the release of the Arch Deluxe menu in the '90s. No one was fooled when Mickey-D's claimed to have moved into the fine dining racket just by slapping a tomato on top of a burger. McDonald's reportedly spent $100 million on advertising the failed line.

So we can see that even top companies of the world has suffered due to failure products. Customers are the ultimate decision maker and no one can fool them. Everything has to be planned right from the idea till the execution of the plan and even the its maintenance and market occupancy rate and improvement too.So its not an easy task to get away just by bringing in product.Actually the story begins here...