The impact of the new product development project on the success of financial services

Abstract

Explores the impact of a number of aspects of the new product development project on the success of new financial services in the United Kingdom. Finds that synergy between the new product and the organization, and the quality of internal marketing, are particularly associated with eventual success for the new product. Technological advantage, market research and responsiveness (i.e. speed of development) are also associated with success. Banks seem to be particularly effective in their use of market research, whereas building societies are good at internal marketing and synergy. New interest accounts have been particularly successful because of the use of market research and the speed of their development.

Citation

Easingwood, C. and Storey, C. (1995), "The impact of the new product development project on the success of financial services", Logistics Information Management, Vol. 8 No. 4, pp. 35-40. https://doi.org/10.1108/09576059510091896