The stages of financial services product elimination

Harness, Tina; Harness, David

doi:10.1057/palgrave.fsm.4760072

Cited by 3 publications

(1 citation statement)

References 19 publications

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“…Avlonitis (1987) noted that a separate study for consumer and industrial products would be necessary and that his study was only the beginning, it needed to be validated and replicated. Later studies of Avlonitis et al (2000) or other researchers (Argouslidis and McLean, 2003;Argouslidis and Baltas, 2007;Gounaris et al, 2006;Harness and Harness, 2004;Harness and Harness, 2012;Harness and Harness, 2007) focused on the finance sectors, service (Somosi and Kolos, 2017), B2C goods (Argouslidis et al, 2014;Muir and Reynolds, 2011), and human resource sector (Wagner et al, 2017).…”

Section: Introductionmentioning

confidence: 99%

Product Elimination in German Industrial Companies: A Comparison Study with US and UK Industrial Companies

Bauer¹,

Turčínková²

2020

Acta Univ. Agric. Silvic. Mendelianae Brun.

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This paper focuses on the product elimination in German industrial companies, especially in the mechanical engineering sector. The Product Life Cycle (PLC) theory is based on the typical curve, which shows the different stages a product experiences over the time. The last stage, the so-called decline or elimination phase, is characterized with decreasing sales figures, low market share and shrinking profits. Therefore, it sounds logical that such products should be eliminated. This study is analyzing if these indicators really are the only reasons to start the elimination process of a product, or if there are other reasons triggering this decision too. This paper is based on results of personal structured interviews (n = 102) with representatives of German mechanical engineering companies. The data was processed with use of statistical software SPSS, mean values and standard deviations were calculated, and Spearman's rank order correlation value analysis was applied. The results of this study were then compared with other earlier studies: Avlonitis (1984), Hart (1988), and Mitchell et al. (1998). The main findings suggest that the data from the new German study are highly correlating with the data from the United States (Mitchell et al., 1998) and the United Kingdom (Avlonitis, 1984; Hart, 1988). The results show that the reasons to phase out a product have not changed over the time; neither are the reasons different in different economics.

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Section: Introductionmentioning

confidence: 99%

Product Elimination in German Industrial Companies: A Comparison Study with US and UK Industrial Companies

Bauer¹,

Turčínková²

2020

Acta Univ. Agric. Silvic. Mendelianae Brun.

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Formalizing organizational product deletion through strategic cross-functional evaluation: A Bayesian analysis approach

Zhu

Dhavale

Sarkis

et al. 2023

International Journal of Production Economics

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Can Product Elimination Support Post-Downsizing Success Aspirations?

Harness

2012

Journal of General Management

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Organisations implement downsizing to overcome difficult and uncertain trading conditions, reduce complexity and gain strategic fit. Academic theory tends to focus on the human resource implications of downsizing. Whilst such articles may acknowledge the role of product elimination, there is limited understanding of either how it can be accomplished or of the customer retention benefits that may be derived. Service deletion theory promotes the use of partial or full elimination strategies as a means to gain positive outcomes. This study utilised interviews and questionnaires to examine product elimination success in the UK financial services industry. It identified that customer retention could be achieved post elimination if the desire to accomplish this was built into the removal process. The implication is that strategically aligning the objectives and implementation of a downsizing activity is more likely to result in positive elimination outcomes that can support the company's longer-term commercial objectives.

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The stages of financial services product elimination

Cited by 3 publications

References 19 publications

Product Elimination in German Industrial Companies: A Comparison Study with US and UK Industrial Companies

Product Elimination in German Industrial Companies: A Comparison Study with US and UK Industrial Companies

Formalizing organizational product deletion through strategic cross-functional evaluation: A Bayesian analysis approach

Can Product Elimination Support Post-Downsizing Success Aspirations?

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