Discuss the three factors that discriminate between successful and unsuccessful new financial services
What will be an ideal response?
The three factors that lead to success in new financial services are market synergy, organizational factors, and market research factors. Market synergy refers to the ability of new offerings to fit well with the existing image of a firm, to meet customer needs, and to receive strong support from a firm and its branches. Organizational factors include strong interfunctional cooperation and coordination and a clear direction for the development team. Finally, market research is conducted early in the development process with a clear idea of the type of information needed.
You might also like to view...
In expectancy theory, the expectation that successful performance of a task will lead to a desired outcome is called ______.
Fill in the blank(s) with the appropriate word(s).
Which of the following best describes the main benefit of a panel?
A) the ability to select a new random sample at each measurement period B) the ability to observe changes in behavior caused by changes in marketing variables or other factors C) the ability to design a focus group study using the customers in the panel as a sample D) the ability to generate new product ideas by brainstorming