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The impact of the new product development project on new financial service success
journal contribution
posted on 2023-06-08, 22:46 authored by Chris StoreyChris Storey, Christopher EasingwoodThis article explores the impact of a number of aspects of the new product development project on the success of new financial services in the United Kingdom. It is found that synergy between the new product and the organisation, and the quality of internal marketing are particularly associated with eventual success for the new product. Technological advantage, market research and responsiveness (i.e. speed of development) are also associated with success. Banks seem to be particularly effective in their use of market research, whereas Building Societies are good at in ternal marketing and synergy. New interest accounts have been particularly successful due to the use of market research and the speed of their development.
History
Publication status
- Published
Journal
Service Industries JournalISSN
0264-2069Publisher
Taylor & FrancisExternal DOI
Issue
3Volume
13Page range
40-54Department affiliated with
- Business and Management Publications
Full text available
- No
Peer reviewed?
- Yes