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Success Factors for New Consumer Financial Services

Success Factors for New Consumer Financial Services A study of the characteristics of successful new consumer financialproducts is described. The first stage of the investigation involved theidentification of financial product attributes possibly associated withsuccess. A total of 43 were found. Information was then collected onthese attributes for 77 new financial products and was simplified bygrouping into nine distinct factors. The article describes all ninefactors in detail with illustrations. Four of the factors areparticularly associated with success. They are overallquality the product, the delivery system, aftersales service,the organisations reputation for quality having a differentiatedproduct being first, being innovative product fit and internalmarketing the new product complementing existing products and receivingthe support of staff and use of technology. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Bank Marketing Emerald Publishing

Success Factors for New Consumer Financial Services

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References (18)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0265-2323
DOI
10.1108/02652329110136847
Publisher site
See Article on Publisher Site

Abstract

A study of the characteristics of successful new consumer financialproducts is described. The first stage of the investigation involved theidentification of financial product attributes possibly associated withsuccess. A total of 43 were found. Information was then collected onthese attributes for 77 new financial products and was simplified bygrouping into nine distinct factors. The article describes all ninefactors in detail with illustrations. Four of the factors areparticularly associated with success. They are overallquality the product, the delivery system, aftersales service,the organisations reputation for quality having a differentiatedproduct being first, being innovative product fit and internalmarketing the new product complementing existing products and receivingthe support of staff and use of technology.

Journal

International Journal of Bank MarketingEmerald Publishing

Published: Jan 1, 1991

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