v. To push a superior product out of the market by providing better marketing for an inferior product.

Example Citation:
Unfortunately, in today's PC software environment, marketing savvy counts for much more than technical accomplishments. This acquisition pits Corel squarely against the Office suite of programs from Microsoft, the home of the consummate software marketeers.

One only has to look at the way Microsoft and Intel have "betamaxed" Apple Computer to realize that Corel has one tough fight on its hands.
—Richard Morochove, "Corel bets the house on WordPerfect," The Toronto Star, February 8, 1996

Earliest Citation:
Apple, meanwhile, "has been Betamaxed" by Microsoft, Mr. Davidson said, referring to the losing standard for video cassettes.
—Joan E. Rigdon, "Oracle's Ellison Consulted With Milken For Advice on Buying Apple Computer," The Wall Street Journal, October 27, 1994

There's an older sense of this term that means "forcing a company or industry to use obsolete technology":

Jot Carpenter, speaking for Rep. Mike Oxley, R-Ohio, said unless market forces determine the system, there is the risk of "Betamaxing" the electronic highway, that is, locking it into obsolete technology at great expense.
—"Panel highlights discord over electronic highway," Defense & Aerospace Electronics, June 14, 1993