Work

What Distinguishes the Top Performing New Products in Financial Services

Year: 1994

Type: article

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.

Source: Journal of Product Innovation Management

DOI: 10.1016/0737-6782(94)90084-1

Authors: Robert G. Cooper, Christopher J. Easingwood, Scott Edgett, Elko J. Kleinschmidt, Chris Storey

Language: English

Topic: Service and Product Innovation

Subfield: Marketing

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2020250012

FWCI: 24.16

Cites: 34

Cited by: 280

Related to: 10