Death is the fifth D of Product Management and comes after Definition, Development, Delivery and Daily Life. It's the D which, if not done properly, can undo all the good profit you've made through the product's entire lifecycle. Ending the life of a product requires careful thought and should be done with the skill and precision of the King’s executioner.
Don't let your product die a long, lingering death - make it quick and painless, and then move on to the next product.
Here’s why you might want to dodo your product:
No market – the world has moved on and your 3 legged donkey just doesn’t go fast enough anymore.
Cost is too high to generate sufficient gross margin – you’ve been following a regime of regular cost reductions through the product’s life, but the minor tweaks that might be available are not enough. You need a complete redesign.
Uncompetitive – you weren’t paying attention and the competition have crept in and eaten your lunch.
Launching a replacement to extend your competitive advantage – you have been paying attention and it’s time for something new to give your sales a boost, your competition a headache and your sales team something new to brag about.
Quality can be improved – which will reduce your returns and lower your product cost.
Changes in regulation – hopefully you were planning for this!
Environmental concerns – you’ve got a brand new reuse and user self-repair strategy all ready to go. Out with the old!
Technology is outdated – Moore’s Law just overtook you.
No spare parts – you can’t buy the parts from your supplier anymore and your after-sales team is cursing you.
There’s a lot to think about when you retire a product. More here.
RIP Gordon Moore
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