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

journal contribution
posted on 2023-06-08, 22:46 authored by Chris StoreyChris Storey, Christopher Easingwood
This article 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. It is found that synergy between the new product and the organisation, 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 in ternal marketing and synergy. New interest accounts have been particularly successful due to the use of market research and the speed of their development.

History

Publication status

  • Published

Journal

Service Industries Journal

ISSN

0264-2069

Publisher

Taylor & Francis

Issue

3

Volume

13

Page range

40-54

Department affiliated with

  • Business and Management Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2015-10-14

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