Blockbusters turned Disasters
Its not enough to be good but it should be great."Good companies meet needs while Great companies meet markets".The above quote was given by Father of Marketing Phillip Kotler which I agree fully to this quote brands which were blockbusters previously and now there are no where in market.This shows that as times change the needs of customer,demands of customer and dynamics of market also changes.With the advancement in technology the needs of customers have changed drastically.Companies need to continously innovate in marketplace to survive.Companies should not only try to meet the needs of customer but also need to understand the customer and market and try to provide value to the customer. There are companies/products which did not innovate in market place and so they lost their hold in market place.Bajaj Chetak,Ambassador cars,Uncle Chips,Orkut,Promise Toothpaste,Sil Jam etc are some brands which according to market place did not update themselves and now the...