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What distinguishes the top performing new products in financial services

journal contribution
posted on 2023-06-08, 22:46 authored by Robert G Cooper, Christopher J Easingwood, Scott Edgett, Elko J Kleinschmidt, Chris StoreyChris Storey
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.

History

Publication status

  • Published

Journal

Journal of Product Innovation Management

ISSN

0737-6782

Publisher

Wiley

Issue

4

Volume

11

Page range

281-299

Department affiliated with

  • Business and Management Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2015-10-14

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