The massive noise made at the lunch of the Red Magnet, a brand of coffee ☕ was second to none. Consumers were assured that they will get the highest taste of coffee ☕ when they buy it.
As a marketing strategy, the Lamic company, makers of the Red Magnet, provided their product in two forms, namely in sachets and then in cans. The can version comes in a lot of sizes to suit customers' budget.
During the first three months of production, the Red Magnet was the rave of the moment. But the economy became bad at some point. The then government imposed series of taxes on manufacturers which many could not cope with. They started folding up. Lamic company was no exception.
Soon, the Red Magnet became scarce in the market and in a matter of time consumers started losing interest in it due to lack of circulation.
Other similar products came on board and gained grounds in the already saturated environment. Lamic company went on public sales for shares in a bid to raise funds to sustain the ailing company. But by the time they will return to the market, their rivals have already gained much grounds.