DocTalk: DocTalk is an app that was launched in August 2016.
Through this app, doctors will be able to communicate directly with patients.DocTalk allowed patients to send messages to their doctors, store medical files, save prescribed medicines, and ask for detailed prescriptions when required. Despite its useful features, doctors found it difficult to take care of their patients and keep records of them. Eventually, it saw a decline in the number of users and could not remain sustainable.
Adibas: This company launched its products in India but could not cope with the existing competition.
It especially had difficulty competing with Adidas, a more widely accepted brand in India.
TaxiForSure.com: It was an aggregator of car rental and taxi services in India founded by Aprameya Radhakrishna and Raghunandan G in June 2011.
They worked closely with various taxi operators and provided them with technology that made safe and reliable car travel easily available to customers. It was acquired by Ola in March 2015 due to tough competition and poor market conditions. Businessmen and businesswomen are seeing a decline in the company’s graph
Vodafone M-Pesa: According to data shared by the Vodafone Group, M-Pesa’s revenue grew by 20.7% initially to around 0.75 billion.
M-Pesa acquired over 8.4 million subscribers in India by the end of 2016. However, the entity was adversely affected due to regulatory changes implemented in the telecom sector in India during that period.
Koinex
It was engaged in crypto trading of digital assets. According to the Koinex site, it had one million registered users and its trade volume was around three billion dollars in the initial stage.
Later, Koinex founder Rahul Raj revealed through a blog post on Medium that their operations were affected due to the delay by the government in defining the regulatory framework for cryptocurrency trading.
Conclusion
Despite these brand failures, there is no doubt that many brands in the Indian market like Larsen & Toubro, Colorbar, La Opala, Van Heusen, etc. have achieved success in a highly competitive and tough environment.
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