March 16th, 2020 min read
It’s a peculiarity of economics that the best product doesn’t always win. Even if the quality is better, the other parts of the equation might not be.
Maybe the timing is wrong. Maybe the marketing goes awry.
Maybe the marketplace is already dominated by heavyweights boasting solid brand loyalty and customer retention.
In order to really take the market by storm, everything needs to line up properly. If it doesn’t, you end up as a footnote, a punchline, an afterthought — if not totally forgotten.
In some cases, these failed products and services fill marketing and economics classrooms and textbooks as case studies.
What went wrong with Beta Max? Why did Crystal Pepsi fail?
For each of these products, consumers down-voted them with their dollars.
In the digital world of social media, consumers vote with their virtual feet.
The early social media landscape
In the early days, now-defunct social networks like Friendster and MySpace were …