In this comprehensive guide by Scroll Updates, the answer to question, Why These 5 Popular Brands Failed in India will be provided. Read upto last to know the vital information. Discussing for the Indian Market then it is a profit making deal for the businesses who are into the goods and services sector.
TATA NANO
Do you remember the time when this car was launched? Factors such as elegant style, size and cost effectiveness has attracted huge number of customers. But the boom had turned into bane with the upcoming brands such as Hyundai, and more.
Kodak
Hearing this name gives a vibe of 90s photography in a studio. Kodak could not compete with the stars in the industry and thus experienced a downfall.
Chevrolet
Moving back to 2017 when the Chevrolet was completely shut down in the country. At that time, Nexa was in demand. Thereafter, Thar, Kia, Fortuner and more models have extracted the benefits from the automobile market.
Kingfisher Airlines
Owned by Vijay Mallya, the airlines was unsuccessful in adhering to the customer requirements. As discussed in the LinkedIn article, misbehavior with the customers and not paying attention to their demands was the reason for the brand extinction.
Nokia
Never ever forgetting company is Nokia. It’s phones were that much strong that they never used to break. And of course, the snake game. LOL. But the company did not introduced the required features in the smartphone series as well leading to business failure.
The reason for the downfall of these companies is lack of attention to the customers. The potential and the clients are the ones who contribute in maintaining a good brand image. If they are not satisfied then businesses has to experience a loss.
Another reason is that the companies were not able to keep pace with their competitors. The modern technology has a great impact on the brand. The way to run the race is by thinking of the future keeping a hold of the present.
