What are some historical examples of diversification failures?
An example of an AI chatbot conversation about historical diversification failures in business.
What are some historical examples of diversification failures?
Some notable examples include Coca-Cola's introduction of New Coke in 1985 and Quaker Oats' acquisition of Snapple in 1994.
Why did New Coke fail so dramatically?
New Coke failed because it alienated loyal customers who preferred the original formula, leading to a backlash.
What lessons can businesses learn from these failures?
Businesses can learn the importance of understanding customer preferences and the risks of straying too far from core products.
Are there any successful diversification examples to compare?
Yes, companies like Amazon and Apple have successfully diversified by expanding into new markets while maintaining their brand identity.
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