A research agenda for investigation of product innovation in the financial services sector

Author:

Akamavi Raphaël K.

Abstract

PurposeHolistically reviews the literature, examines critically and summarises systematically the major pioneering works of contributors in this field. Its primary objective is to formulate a research agenda in the area of new service development (NSD) in the financial services sector.Design/methodology/approachA comprehensive in‐depth content analysis: theoretical discussion and conceptual frameworks of product innovation are carried out. This paper explores and evaluates extant frameworks of the tangible NPD process, which form the basis for NPD for the services literature. NSD has been central to the literature on services marketing, and a competitive weapon for firms, the important propensity has been related to the investigation of NSD issues.FindingsThis study identifies significant deficiencies and gaps (e.g. stakeholders involvement: roles of customers and supportive activities units) in the literature, with specific regard to new financial product development relating to the financial services sector.Research limitations/implicationsThis emerging approach to NPD suggests a new perspective on how to achieve NPD success in the financial services sector.Practical implicationsManagers and executives should strategically rethink the stakeholders’ roles, and the design and management of a NSD process. They should be aware of beneficial gains, which can be obtained from the process of stakeholder integration and involvement in NSD activities.Originality/valueProvides a critical overview and analysis of theoretical perspectives on financial NSD /NPD with an annotated bibliographical reference covering the period between 1957 and 2005, which can help the advance of NSD research in the financial services sector. It also adds to the growing literature on the financial service innovation process.

Publisher

Emerald

Subject

Marketing

Reference177 articles.

1. Afuah, A. (1998), Innovation Management: Strategies, Implementation and Profits, Oxford University Press, Oxford.

2. Agnihothri, S., Sivsubramaniam, N. and Simmonons, D. (2002), “Leveraging technology to improve field service”, International Journal of Service Industry Management, Vol. 13 No. 1, pp. 47‐68.

3. Akamavi, R. (2002), “Integrative model of financial product innovation: roles of customer and supportive activities”, paper presented at “Frontiers in Services”, The 11th Annual American Marketing Association Conference, The University of Maastricht, Maastricht, 27‐29 June.

4. Akamavi, R.K. (2005), “Re‐engineering service quality process mapping: e‐banking process”, International Journal of Bank Marketing, Vol. 23 No. 1, pp. 28‐53.

5. Akamavi, R.K., Thwaites, D. and Burgess, T.F. (1999a), “Incorporating customer‐organisation capabilities in the new product development process: issues in the financial services sector. Part 1”, Journal of Financial Services Marketing, Vol. 3 No. 4, pp. 359‐72.

Cited by 42 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Drivers of financial innovation in sub-Saharan Africa;SN Business & Economics;2023-08-08

2. Effects of Financial Innovations on Performance of Commercial Banks in Kenya;African Journal of Commercial Studies;2023-01-14

3. Robo-Advice (RA): implications for the sociology of the professions;International Journal of Sociology and Social Policy;2021-12-30

4. Really New Services: Perceived Risk and Adoption Intentions;Services Marketing Quarterly;2021-10-25

5. Developing corporate social responsibility in financial services;International Journal of Bank Marketing;2021-05-31

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3