"In the world of business, we tend to believe that success is a direct result of talent, resources, and a "great idea." We expect that if a company has a track record of dominance, like Google, Amazon, or Apple, they are a sure bet for the next big thing. Yet, the history of innovation is littered with the wreckage of unexpected flops launched by industry giants."
"One of the most common reasons for failure is based on "technology push" versus "market pull." This happens when a company develops a sophisticated piece of technology and then hunts for a problem to solve, rather than starting with a genuine consumer need. Google Glass is a fine example. Technically, it was a marvel, an engineering feat that brought augmented reality to a wearable form. However, Google failed to articulate why the average person needed it. It lacked a defined purpose."
"Similarly, the Segway was heralded by Steve Jobs and Jeff Bezos as a revolution in urban transport that would "reshape cities." But for the consumer, it was an expensive, bulky solution to a problem that didn't exist. It was too fast for sidewalks and too slow for roads. It was a great idea in theory, but a failure in the real world."
Market success does not guarantee future product viability; history shows major firms can produce high-profile flops despite talent and resources. A common failure is developing technology first and seeking a problem, producing sophisticated products without genuine consumer need. Google Glass exemplified this: technical achievement lacked a clear everyday purpose and triggered privacy concerns, limiting acceptance. The Segway promised urban transformation but offered an expensive, impractical solution to a non-existent consumer problem. Dominant companies also risk imposing their core business approaches onto unrelated markets, leading to poorly aligned products and failures despite existing dominance.
Read at Fast Company
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