For a beginner, the product failure rate is crucial since it gives an idea of the time and the way businessestend to fail. Fall in customer base due to its unhealthiness: Parents and youths are getting health conscious, and the unhealthy content and high calorie of Cheetosare making them stop eating it. The Social Media Buzz: Leveraging the power of social media, the branding strategy set out to ignite conversations and create a buzz around Cheetos Lip Balm. Cleverly crafted posts, engaging videos, and witty captions flooded the digital landscape, encouraging users to share their excitement and opinions. Influencers and brand ambassadors added their own touch of humor and enthusiasm, amplifying the reach of the branded Cheetos experience. The result was a vibrant online community of Cheetos Lip Balm enthusiasts, reinforcing the product’s appeal and cultivating a sense of belonging. These failures take many different forms. When a product doesn’t sell, when it is recalled or discontinued, or when it otherwise does not come close to meeting a company’s expectations or plans, it can be marked as a failure. While failures are expected, some can be so catastrophic they can lead to permanent damage to a company’s reputation, layoffs, and even complete financial ruin.

In 1999, Mattel announced that it had entered a licensing agreement to sell Barbie and Hot Wheels computers. The computers would be manufactured and sold by the Patriot Computer Corporation, a privately held company based in Toronto. The move was part of an attempt to reconcile the declining sales of Barbie dolls and growing sales of software and CD-ROMs.Now let’s take a look at some examples and try to connect these reasons with failures. 10 Examples of Recent and Classic Product Fails Clayton Christensen, a professor from Harvard Business school, states that there are over 30,000 new products introduced each year, and 95 percent of them fail. Supply Chain Optimization: Strengthening the supply chain to meet demand fluctuations and ensuring consistent availability is critical. Collaborating with reliable suppliers and establishing a robust inventory management system can help overcome supply challenges.

Interactive Social Media Content: Engaging social media content, including videos, contests, and polls, invited consumers to participate actively in the lip balm’s journey. The interactive nature of the campaigns cultivated a sense of ownership and belonging among consumers, strengthening brand loyalty. Also, the masses, who were accustomed to the brown color, were disappointed with the drink’s clear color. So, even though the creators had good intentions of launching a caffeine-free drink, its shelf-life was cut short due to defunct branding. 8. Volkswagen Phaeton Yet, detailed researches revealed some unpleasant facts: people did not use Febreze very often, in fact, it was found that %70 of consumers only used Febreze two or three times a year. Tapping into Offline Channels: While the brand excelled in digital marketing, an opportunity to tap into offline channels such as retail partnerships and experiential marketing events may have expanded its reach to consumers who prefer in-person interactions and experiences.In the quest for success, every great venture begins with a foundation built on the pillars of market research. The case of Cheetos Lip Balm was no exception. Before the product’s much-anticipated debut, an extensive market research endeavor was set in motion to gauge the potential acceptance and demand for this quirky creation. Cause-Related Campaigns: Engaging in cause-related marketing, such as supporting environmental causes or promoting sustainable practices, can resonate with consumers who value brands with a purpose. Still, the product failed to engage with the market and did not speak to customers’ demands. It was also argued that the development team of the product consisted of iPhone users. This situation likely created confusion and inability to meet the expectations of Android users since the team was unfamiliar with the Android system. Sometimes, it can take years or even decades for a product flop to disappear from the market. This was the case with Betamax, a video format that Sony introduced with the expectation it would replace VHS. Despite being technologically superior to VHS, Betamax lost market share until it eventually vanished.

The computers, however, had many manufacturing flaws, and the resources Patriot devoted to fixing and replacing broken computers drove it out of business. By December the following year, the company had fired its 200 employees and filed for bankruptcy. People are constantly in search of products that will make their lives easier, are more practical, and convenient. If you try to set your goals around this frame, it is more likely that you succeed. In keeping with the 1970s trend of incorporating natural food ingredients like lemon, herbs, and honey into beauty and hygiene products, Clairol – at the time a subsidiary of Bristol-Myers Squibb – thought a yogurt shampoo was just what the American consumer wanted. It turned out the company had grossly miscalculated. Many consumers were apparently confused as to what they had bought, as there were reported cases of people eating the shampoo. They took immediate action and reworked the whole product to create what users yearned for – a clean and fresh smell in the air. They added more perfume, and they recreated their campaign all over again. The goal was to get to the point where customers eventually associated Febreze with the feeling of cleanliness. Google+ finally ceased operations in April after eight years of efforts to boost interest in the struggling social network. The long-anticipated shutdown represents just the latest major Google product to fail to live up to its promise.The Nintendo Virtual Boy, which was released in 1995 and sold around 770,000 units worldwide, was discontinued less than a year later. It is possible that MeeGo will find a second life as a tablet operating system. Mattel’s Hot Wheels and Barbie were manufactured by a company known as Patriot Computers, which filed for bankruptcy later. LaserDisc, which was marketed as a replacement for DVDs, failed to gain traction. With the release of the Dreamcast, Sega’s console game console failed to live up to its name, marking the end of the company’s console attempts. Smith and Wesson attempted to sell mountain bikes in 2002. The Lisa computer sold a total of only 100,000 units before being discontinued.

In most cases, when the timing is wrong, the product might not get the attention it needsto survive. Therefore, it is crucialto consider the time factor before launch. Poor Planning & Poor Execution of Marketing Plan The failure of Cheetos Lip Balm as a result of this, however, is an excellent lesson for future product launches. To create a successful new product, it is critical to conduct thorough market research and understand the needs of customers. As a brand, you should strive to create one that is both practical and appealing while incorporating your target audience’s preferences and expectations. A process started: a process of recovery. The gamers were still furious, but they wanted to give it a chance when they found out about the new updates. These updates were and still are free and they continue to take the game to another level.Localized Campaigns: While the product’s novelty had global appeal, localized marketing campaigns tailored to specific regions and cultural nuances could have further bolstered its popularity in different markets. The Novelty Factor: Cheetos Lip Balm’s most distinctive feature was undoubtedly the infusion of Cheetos flavor extracts. This novelty element captured the imagination of consumers, offering a playful and unconventional twist on lip care. No other lip balm in the market ventured into such adventurous territory, making Cheetos Lip Balm an unparalleled sensory experience. Despite their disappointing launches, some of these products still exist today. Google’s Glass and Google+ each became the butt of jokes after failing to live up to lofty promises. One day, we may see one of these flops become the product it was meant to be.