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Article
Publication date: 1 December 1996

Scott Edgett and Kim Snow

Addresses the issue of measuring the success of new products in a service environment by examining a number of measures under the three broad categories of customer satisfaction…

2994

Abstract

Addresses the issue of measuring the success of new products in a service environment by examining a number of measures under the three broad categories of customer satisfaction, quality and performance. Reports on the perceived effectiveness of different measurement approaches by benchmarking techniques currently in use in the financial services industry, by determining how informative management finds them, by isolating measurement approaches which are the most useful, and by identifying measurement approaches which are still needed. Confirms that service companies continue to employ many traditional success/failure measures, but that these are gradually being supplemented with new tools as executives begin to realize that strict profitability criteria are no longer enough to gauge the real success of service offerings.

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Journal of Services Marketing, vol. 10 no. 6
Type: Research Article
ISSN: 0887-6045

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Article
Publication date: 1 August 1997

This article has been withdrawn as it was published elsewhere and accidentally duplicated. The original article can be seen here: 10.1108/08876049610148567. When citing the…

2445

Abstract

This article has been withdrawn as it was published elsewhere and accidentally duplicated. The original article can be seen here: 10.1108/08876049610148567. When citing the article, please cite: Scott Edgett, Kim Snow, (1996), “Benchmarking measures of customer satisfaction, quality and performance for new financial service products”, Journal of Services Marketing, Vol. 10 Iss: 6, pp. 6 - 17.

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Journal of Product & Brand Management, vol. 6 no. 4
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 1 March 1993

Scott Edgett

Today′s British building societies face intense competition in themarketing of financial services to consumers, and accordingly the risksattached to new product failure are high…

179

Abstract

Today′s British building societies face intense competition in the marketing of financial services to consumers, and accordingly the risks attached to new product failure are high. Nevertheless, a study of these financial institutions demonstrates an alarming lack of strategic planning in their attempts to gain larger shares of an increasingly volatile and sophisticated market. Reviews the strategic focus of new product development, examines related management issues, evaluates the new product screening and preliminary assessment techniques, and explores market research practices. The results of this study suggest that, although approaches to new product development vary, building societies do not make extensive use of commonly accepted development procedures.

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International Journal of Bank Marketing, vol. 11 no. 3
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 1 December 1990

Scott Edgett and Des Thwaites

The marketing environment for the financial services industry inthe UK is experiencing a period of rapid change. How building societiesare preparing to meet the demands of the…

652

Abstract

The marketing environment for the financial services industry in the UK is experiencing a period of rapid change. How building societies are preparing to meet the demands of the 1990s is shown by examining the level to which the marketing concept has been adopted, and the extent to which various marketing techniques are being used. Based on empirical findings, it was determined that major differences exist among building societies in their approaches to marketing. This is particularly evident in comparisons between larger and smaller societies.

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European Journal of Marketing, vol. 24 no. 12
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 March 1993

Scott J. Edgett and Carman W. Cullen

Focuses on the selection by students of their preferreduniversities as an example of a high involvement consumer decisionprocess in a service organization setting. Provides a…

677

Abstract

Focuses on the selection by students of their preferred universities as an example of a high involvement consumer decision process in a service organization setting. Provides a cross‐cultural comparison between undergraduates in two medium‐sized Canadian and Scottish universities, describing the affective and cognitive involvement of the two groups of students and the information searches they have conducted. Findings suggest that differences do exist between Scottish and Canadian respondents.

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European Journal of Marketing, vol. 27 no. 2
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 September 1994

Scott Edgett

Recent changes in the financial services industry have placedunprecedented pressure on senior managers to develop and launch newservices. Presents the results of a study into the…

3767

Abstract

Recent changes in the financial services industry have placed unprecedented pressure on senior managers to develop and launch new services. Presents the results of a study into the development activities of new financial services through a comparison of successful and unsuccessful new services. It was discovered that the development activities are more rigorous and comprehensive for successful new services than for failures. Institutions which used a systematic process of well‐defined development stages tended to have higher chances of successful outcomes.

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Journal of Services Marketing, vol. 8 no. 3
Type: Research Article
ISSN: 0887-6045

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Article
Publication date: 1 October 1994

Scott Edgett and Steven Parkinson

Although the service sector has gained increasing importance in oureconomy, very little attention has been paid to how firms actuallydevelop new services. Reports on an…

2416

Abstract

Although the service sector has gained increasing importance in our economy, very little attention has been paid to how firms actually develop new services. Reports on an investigation into how new retail services are developed in the financial service sector. The authors, by comparing successful and unsuccessful new services, have been able to develop a model that effectively identifies a number of characteristics that distinguish between success and failure.

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International Journal of Service Industry Management, vol. 5 no. 4
Type: Research Article
ISSN: 0956-4233

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Article
Publication date: 1 May 2004

Product innovation – the development of new and improved products – is crucial to the prosperity of the modern corporation. New products launches within the last three years…

1939

Abstract

Product innovation – the development of new and improved products – is crucial to the prosperity of the modern corporation. New products launches within the last three years account for about 30 percent of corporate sales, and there is a strong connection between successful product development and business valuation. However, developing a steady stream of winning new products is no easy task.

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Strategic Direction, vol. 20 no. 5
Type: Research Article
ISSN: 0258-0543

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Article
Publication date: 1 January 2003

Dianne N. Bridges

Here's how top firms are using portfolio management processes to maximize their projects‘ fit, utility, and balance.

660

Abstract

Here's how top firms are using portfolio management processes to maximize their projects‘ fit, utility, and balance.

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Handbook of Business Strategy, vol. 4 no. 1
Type: Research Article
ISSN: 1077-5730

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Article
Publication date: 11 January 2008

Catherine P. Killen, Robert A. Hunt and Elko J. Kleinschmidt

The purpose of this paper is to create a benchmark and identify best practices for Project Portfolio Management (PPM) for both tangible product‐based and service product‐based…

8930

Abstract

Purpose

The purpose of this paper is to create a benchmark and identify best practices for Project Portfolio Management (PPM) for both tangible product‐based and service product‐based development project portfolios.

Design/methodology/approach

A questionnaire was developed to gather data to compare the PPM methods used, PPM performance, PPM challenges, and resulting new product success measures in 60 Australian organisations in a diverse range of service and manufacturing industries.

Findings

The paper finds that PPM practices are shown to be very similar for service product development project portfolios and tangible product development project portfolios. New product success rates show strong correlation with measures of PPM performance and the use of some PPM methods is correlated with specific PPM performance outcomes.

Research limitations/implications

The findings in this paper are based on a survey of a diverse sample of 60 Australian organisations. The results are strengthened by comparisons with similar North American research; however, they may not be representative of all environments. Research in other regions would further qualify the findings. As each organisation's PPM process is unique, case study methods are recommended for future studies to capture more of the complexity in the environment.

Practical implications

The paper shows that PPM practitioners and executives who make decisions about the development of tangible products and/or service products will benefit from the findings.

Originality/value

This paper extends the existing understanding of PPM practices to include service development project portfolios as well as tangible product development project portfolios and strengthens the links between PPM practices and outcomes.

Details

International Journal of Quality & Reliability Management, vol. 25 no. 1
Type: Research Article
ISSN: 0265-671X

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