Abstract

The article presents information on product petrification. Launching and developing a new product line can be exciting, the possible liberal profit margins alluring and a company's very existence or continued growth may depend on successful new product development. Small wonder, then, that many smart marketing managers greatly emphasize new products. Recognizing that for many products the product life cycle does not need to stop with the decline stage, profit-oriented managements have been able to continue marketing several products through a stage presented here as product petrification. Profits in this last stage are possible by selecting a marketing strategy unlike those usually used during the product's growth and maturity. The petrified product may also quire a unique organizational structure. Aside from the potential profits, managements who regularly consider petrification for declining sales products will also reap the benefit of forcing themselves to deal with declining products and thus emphasize the need to develop new products.