What Distinguishes the Top Performing New Products in Financial Services

What Distinguishes the Top Performing New Products in Financial Services Despite previous comparisons of success and unsuccessful new products, an Important question remains unaddressed: What separates very successful new service products from the ordinary? Robert Cooper, Christopher Easingwood, Scott Edgett, Elko Kleinschmidt, and Chris Storey obtained data on 173 new financial services and identified three performance dimensions: financial performance, relationship enhancement, and market development. Of eleven potential success determinants, nine were found to be drivers of performance. Management implications included the need for a market‐driven, customer‐focused new product process, greater emphasis on planning and executing the launch, the role of product design, and project prioritization factors. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Product Innovation Management Wiley

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Publisher
Wiley
Copyright
© 1994 Elsevier Science Inc.
ISSN
0737-6782
eISSN
1540-5885
DOI
10.1111/1540-5885.1140281
Publisher site
See Article on Publisher Site

Abstract

Despite previous comparisons of success and unsuccessful new products, an Important question remains unaddressed: What separates very successful new service products from the ordinary? Robert Cooper, Christopher Easingwood, Scott Edgett, Elko Kleinschmidt, and Chris Storey obtained data on 173 new financial services and identified three performance dimensions: financial performance, relationship enhancement, and market development. Of eleven potential success determinants, nine were found to be drivers of performance. Management implications included the need for a market‐driven, customer‐focused new product process, greater emphasis on planning and executing the launch, the role of product design, and project prioritization factors.

Journal

The Journal of Product Innovation ManagementWiley

Published: Sep 1, 1994

References

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