What caused the Bank's products to die?

Many financial service organisations are loath to eliminate products that have long life cycles and where existing customers expect these products to remain available. Whilst previous research has identified factors that cast doubt over the viability of continuing to supply a product, the existence of these factors does not necessarily mean that they will automatically lead to elimination. This study looks at the factors triggering product elimination in the New Zealand banking sector. It outlines the type of triggers that cause elimination, and places them into seven broad clusters that relate to the product management activities or the strategic functions of the organisations. The paper considers how an organisation’s response to the triggers influences the final decision on whether to eliminate, rejuvenate, or leave untouched the reviewed product. The study concludes that where an organisation takes a proactive stance in managing the end stages of the product life cycle, options, other than elimination, become possible.