An Empirical Study of the Linkages among Development Activities, Effectiveness, and Performance of New Financial Product: The Moderating Role of Service-Market Characteristics

• Main Authors: Chih-Ho Yang, 楊致和
• Other Authors: n
• Format: Others
• Language: zh-TW
• Published: 2004
• Online Access: http://ndltd.ncl.edu.tw/handle/55qv6d

碩士 === 崑山科技大學 === 企業管理研究所 === 92 === Facing deregulation and e-business era, the operating environment of financial service industries had a great change. Financial institutions attempting to survive and grow will need continuously to create new ideas and launch new financial services. However, empirical researches show that the success rate of new financial service was not high all the while. The financial loss directly caused by unsuccessful new services may not be great, but still with the hidden costs. How to improve the performance of new service development (NSD)? This is a subject to be concerned with financial institutions superior chief and academia. So far, there have been many studies empirically examined the determinants of new service performance. However, most studies measured the new service performance by only asking single question without capturing the multidimensional characteristics of new service performance. Besides, these researches examined the relationships of determinants with new financial service performance by exploratory statistical analysis method. Moreover, most research, examining the relationships of NSD activities and effectiveness (such as product-market fit and effectiveness of marketing communication) to new financial service performance, have generally not verified this causal relationship of NSD activities to NSD effectiveness. Through literature review, the author firstly induces the dimensions of new service performance into direct results and indirect results, and the determinants of new service performance into NSD activities (including market research, personal training, marketing test, and preparation and launch) and NSD effectiveness (i.e. product-market fit, unique/superior service, and effectiveness of marketing communication). And then, the author infers the influence of executive quality for NSD activities on NSD effectiveness, the effects of NSD effectiveness on new financial service performance, and the moderating effect of service-market characteristics on the relationships of NSD effectiveness to new financial service performance. Ninety-three NSD projects from domestic banking and insurance industries were sampled as empirical subjects. The results of regression analysis indicate that preparation and launch has most influence for NSD effectiveness, the next was market studies, marketing test has a less influence. The findings also show that effectiveness of marketing communication has better influence for new financial service performance, the next was product-market fit, but unique/superior service was not important. Moderated regression analysis shows that the relationships of NSD effectiveness and new financial service performance are moderated by service newness to market, market competition and market newness to company. Finally, managerial implications for new financial service development and recommendations for future research are presented.