chapter  15
18 Pages

The many deaths of a fi nancial services offering

ByDavid R. Harness, Tina Harness

One of the most powerful concepts in marketing is that of the product life cycle (PLC), which portrays a product going through various stages akin to a biological life. These stages include birth, growth, maturity, decline and fi nally death (Kotler 1965 ). Products do not simply die, instead, they have to be managed out of existence, which requires that organizations plan and resource the removal activity. As an activity it is perhaps ‘unloved’ by product managers and academic theorists (Hise et al. 1984 , Greenley 1994 , Harness and Harness 2013 ) and rarely discussed in text books and in academic journals, yet it has a signifi cant role to play in enabling organizations to achieve a range of commercial objectives (Friedman and Krausz 1986 ). Central to this is that the act of elimination is understood, that it becomes a part of the normal planning and management of offerings and that organizations set objectives when implementing it to gain benefi ts beyond the act of ceasing production.