Learn from The Big Fall:
At Aircel’s launch I was convinced to get with a mobile phone by making the offer irresistible: free incoming calls and a #Nokia handset. I watched both grow in stature and market share. Today, both are struggling to survive. Nokia, once a giant with an overwhelming share of the global market is struggling along with the new entrants. #Aircel, once a dream company is on the verge of shutting down as it fights for its survival. What did they do wrong? For one, new competitors appeared with revolutionary new mobile offerings and handsets. Second, both the companies failed to update themselves with the market conditions. Third, they were resting on their laurels and motivated by a false sense of security. They were blinded by their past glory. Learn from their experience. Be a learner. Make the right collaboration. Stay relevant. Make sure your proximity to your customer is vital, living and energetic. Be Innovative. Keep your employees and customers happy make sure the leadership has vision and farsightedness.
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I still remember those days where there was BPL and Aircel and where even incoming calls were charged. BPL got acquired by Hutchinson Essar and later Vodafone but Aircel was still on their flow with their loyal customers but the late 2000’s also saw players like Airtel and BSNL coming up and spreading across along with Escotel, Idea.. Idea acquired Escotel.
There is always a rise and fall for anyone / any brand / irrespective of the field they are ventured in. The First mover advantage always plays a key role but as there are rapid changes happening within a year so the lifespan of a brand loyalty also has come down in the eyes of people.