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Can you find examples of when companies adapted to perceived needs but that decision was the wrong one? Can you identify any companies that fell into this trap, and yet recovered?

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A good example of an industry that adapted to perceived customer needs but were the wrong ones is the passenger railroads. During the 1950's and 1960's, passenger railroads focused on the perceived need to expand their passenger service networks throughout the country. They saw themselves as railroad companies that needed to spread tracks and trains to as many markets as possible. This required them to take on a lot of debt to finance the ...

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