Exploring Retail Bank Performance and New Product Development: A Profile of Industry Practices
Generate an AI Snapshot to get a quick, structured summary of this paper.
A concise AI-generated summary of the paper will appear here once you click Generate AI Snapshot.
Abstract
Based on their survey, Eric Reidenbach and Donald Moak report that various aspects of new product development practices are associated with different levels of retail bank performance. Such practices and activities as the existence of a formal evaluation process, the existence of new product managers, the length of time a product spends in development, and the percentage of the operating budget spent on new product development tend to vary according to bank performance. Top performers have decidedly different new product development processes, structures, and practices than do average or negative performers.