Traditional advertising 3 Common Mistakes Big Brands Make That Leads To Downfall Of Their Product

[Good-Guy]

Marketing and product branding is one of the most important aspect of product promotion and sales. If a brand fails to market their product in tbne right way, they always have trouble making sales. product sales is dependent upon many factors. Unfortunately, there are many big mistakes that are made by man big brands that might lead to a huge decline in the market of a company or product. So here are the common mistakes many companies make:-

1) No Longer Promoting Products

This is a really huge mistake made by a company or bigger brands. When they feel like their brand has gained much popularity, they often stop advertising their products because they think that since their brand is very well-known, they no longer need to promote it.

2) Depending Too Much On Branding

There are many companies that become famous and they think that market will simply follow the flow and many customers will come to those brands automatically. After all a brand is a brand, right? Well, this is a clearly wrong perception. One such example is Nokia. Nokia was a popular brand, but they are no longer popular.

3) Not Staying Updated With Latest Trends

This is also a big mistake. Many companies simply follow the same old thoughts and outdated market trends and never stay updated or upgrade their product. As a result of that, their product demand declines. There are many examples of that. As I mentioned earlier, Nokia never upgraded their operating system and never promoted Android. As a result of that, market stopped purchasing Nokia phones.

 

[Jasmine]

One of the biggest failures for big brands is related to not adapting to the market. Nokia was once the world's number one mobile handset maker. When iPhone as a smartphone was lunched and Samsung also started launching smartphone, Nokia refused to upgrade its handsets, which resulted in a big loss. Blockbuster was once world's largest video rental service, Netflix tried to sell itself to Blockbuster, but blockbuster refused. Sadly, Blockbuster filed for bankruptcy in 2010. The company failed because it could not upgrade its service to the streaming service. Motorola is another company that failed because it could not adapt to the new market.

 

[btaliat]

The very first step to make our products known to the world is by making sure that we brand our products. Branding doesn't only make us have much patronage but also making us popular and be famous with our products.

However, there are some certain times when despite branding will may not be getting the attention that we need as a manager. This doesn't mean that the branding is not working but what it means is that there are some things that we are getting wrong and if we don't really make adjustments.

After branding, there is need for customer care. Business need to be making sure that their customers are really cared for. They should make sure that there are several mechanisms in place that will ensure that the customers really have the time they deserve and get the quality of goods that they yearn for.

Not only this. Just as the poster opined, there should be knowledge on how to use the latest marketing tools. Though there are some brand names that have been known for what they do. But the moment they don't use the latest things while advertising and marketing their products, they may not get the right results.