There have been a number of businesses that were going so great but suddenly started dying. No one would have thought those businesses could have died, but they did. Their deaths were caused by so many different things, but they all disappeared from the market either by bankruptcy or a total end of operations. This article compiles a list of few of them.
AMARI INC – Although their first game; Pong, was invented in 1972, Amari Inc. was considered the most successful, fastest growing company in the United States of America. Pumped up by the hype, AMARI INC did a massive hype for a soon to be released video game. After the video game was released, the world was disappointed. It was tagged the worst video game ever made; the E.T. With millions lost in the unsold cartridges and console, AMARI INC crashed and never got back up.
CIRCUIT CITY – Circuit city died because of their disregard for their workers. They believed they could get the services of their employees for cheaper and then fired three thousand and four hundred (3400) of their highest paid staffs, all at once. The said letting their current workers go for others who are willing to work for less to come in. In few weeks, there was a drastic fall in Circuit city’s sales. In two years, they were out of business.
XFL – If you are a sports person and you’ve been a sports person for over two decades, you will remember the partnership between NBC and the World Wrestling Federation; XFL. It was a fusion of both professional wrestling and c professional football. After ESPN, it was the biggest sports bust of all time, but somehow, this talk of the town crashed after a season. The made a loss of over $70 million dollars.
HUMMER – Hummer was the luxury car for a number of years; popular worldwide. It was everything lush, but they forgot about the environmental effects LG it’s exhaust. The hummer produced a lot of pollution such that governments were infringing on its use. It was good market at the wrong time, basically because it was a time of environmental awareness. The brand closed in 2010 when they couldn’t sell their products to most countries.
THE SHARPER IMAGE – This company was highly successful at selling consumer products for more than thirty straight years. However, they started packing out of that market when a popular blog posted a negative review about one of their make products. Consumer Reports posted the negative review and The Sharper Image sued, but the case was soon out of court. Later, a customer who bought the product sued them, and they had to spend a lot to compensate. In the end, they had lost too much, coupled with the drastic fall in sales which they experienced as a result of the review. They eventually packed up and never came back.
Anybody could fall, no matter how high they’ve climbed or how long they’ve been climbing. You are never the master of the market.