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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 StoreyDespite 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 ManagementISSN
0737-6782Publisher
WileyPublisher URL
External DOI
Issue
4Volume
11Page range
281-299Department affiliated with
- Business and Management Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2015-10-14Usage metrics
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