THE INNOVATIVE FINANCIAL PRODUCT DEVELOPMENT WITH ITS FUNCTIONAL PERFORMANCE
Article Sidebar
Main Article Content
Abstract
Creating new financial product and its development phases contain on the problematic but a witty process. This research article’s Objective is to check out the development of novel product and also checking its impacts on the organization’s performance. It has a budding pouring element on the performance of any organization, when it developed. Methodology: Primary and secondary both data, along with t-test applied in this research article. Sample: 250 regular clients of the commercial banks. Research journals, bank’s prospects reports were very helping as secondary data in this regard. Partial least squares (PLS) also applied for hypothesis testimonial. Values of the Cronbach’s coefficient alpha more than 0.70. New innovation product development, Relational Performance, Customer’s Satisfaction uses as (DV) collectively, and 1- firm image, on second brand strength, on third market sensing capability, on fourth product innovativeness, on fifth new product quality used as (IVs). Results: shows that with the development of ‘new innovative products’ firm also accelerates its business volume. Firms get the new clients and improve existing relationship. Brand of firm got the new identity and even reach to unknown persons. Market share level upsurge. Innovativeness of product creates flourishing image and market share. Findings: of this research article was the multiple four factors: Brand strength, new product quality firm image, Product innovativeness. In findings ‘r’ (correlation) and ‘r2’ (regression) shows the strong and positive relationship flanked-by DVs and IVs. There were some restrictions in this research article that will be resolved voguish the impending research & exploration direction.
Downloads
Metrics
Article Details
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
Abdullah, Z. (2009). Beyond corporate image: Projecting international reputation management as a new theoretical approach in a transitional country. International Journal of Economics and Management, 3(1), 170–183.
Atuahene-Gima, K. & Ko, A. (2001). An empirical investigation of the effect of market orientation and entrepreneurship orientation alignment on product innovation. Organization Science, 12(1), 54–74.
Bakar, L.J.A., & Ahmad, H. (2010). Assessing the relationship between firm resources and product innovation performance: A resource-based view. Business Process Manage- ment Journal, 16(2), 420–435.
Bendoly, E., Bharadwaj, A., & Bharadwaj, S. (2012). Complementary drivers of new product development performance: Cross-functional coordination, information system capability, and intelligence quality. Production and Operations Management, 21(4), 653–667.
Bouncken, R.B., & Lekse, W.J. (2010). Management of alliances: Performance effects of project managers’ participation. International Journal of Business Environment, 3(2), 221–239.
Brignall, S., & Ballantine, J. (1996). Performance measurement in service businesses revisited. International Journal of Service Industry Management, 7(1), 6–31.
Caldeira, M. M., & Ward, J. M. (2003). Using resource-based theory to interpret the successful adoption and use of information systems and technology in manufacturing small and medium-sized enterprises. European Journal of information systems, 12(2), 127-141.
Choi, J., & Choi, Y. (2009). Behavioral dimensions of public relations leadership in organizations. Journal of Communication Management, 13(4), 292–309.
Cooper, R.G. & Kleinschmidt, E.J. (1995). Benchmarking the firm’s critical success factors in new product development. Journal of Product Innovation Management, 12(5), 374–391.
Cravens, D.W. & Piercy, N.F. (2009). Strategic Marketing (9th ed.). New York, USA: International Edition McGraw Hill.
Croasdell, D., McLeod, A. & Simkin, M.G. (2011). Why don’t more women major in information systems? Information Technology & People, 24(2), 158–183.
Day, G.S. (1994). The capabilities of market-driven organizations. Journal of Marketing, 58(4), 37–52.
Dickson, P.R. (1992). Toward a theory of competitive rationality. Journal of Marketing, 56(1), 69–83.
Durmusoglu, S.S. & Barczak, G. (2011). The use of information technology tools in new product development phases: Analysis of effects on new product innovativeness, quality and market performance. Industrial Marketing Management, 40(2), 321–330.
Euchner, J. (2008). Manufacturing innovation–creative dialogue. Engineering & Technology, 3(3), 68–71.
Fombrun, C. & Shanley, M. (1980). What’s in a name? Reputation building and corporate strategy. Academic of Management Journal, 33(2), 233–258.
Fong, S. F., Lo, M. C., & Ramayah, T. (2014). New product development and performance in the banking industry. Asia-Pacific Journal of Management Research and Innovation, 10(4), 305-321.
Fornell, C. & Larcker, D.F. (1981). Evaluating structural equations models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39–50.
Gefen, D., Straub, D.W. & Boudreau, M–C. (2000). Structural equation modeling and regression: Guidelines for research practice. Communications of the Association for Information Systems, 4(7), 1–79.
Gronroos, C. (2000). Service management and marketing. United States of America: John Wiley and Sons.
Halawi, L. & McCarthy, R. (2008). Measuring students’ perceptions of blackboard using the technology acceptance model: A PLS approach. Issues in Information Systems, 9(2), 95–102.
Jacobson, R. (1992). The ‘Austrian’ school of strategy. Academy of Management Review, 17(4), 782–807.
Jaw, C., Lo, J. Y., & Lin, Y. H. (2010). The determinants of new service development: Service characteristics, market orientation, and actualizing innovation effort. Tec novation, 30 (4), 265-277.
Johnson, M. & Zinkhan, G. (1990). Defining and measuring company image. In B.J. Dunlap (Ed.), Developments in Marketing Science, XIII (pp. 346–350). Provo, UT: Academy of Marketing Science.
Johnson, S. (2009). The strategic role of product management: How a market-driven focus leads companies to build prod- ucts people want to buy. Retrieved from http://mediafiles.pragmaticmarketing.com/strategic-role-of-product-management/ strategic_ role_ product _management. Pdf
Kanagal, N. (2009). Role of relationship marketing in competi- tive marketing strategy. Retrieved from www.aabri.com/manuscripts/09204.pdf
Kołakowski, P., Szelążek, J., Sekuła, K., Świercz, A., Mizerski, K., & Gutkiewicz, P. (2011). Structural health monitoring of a railway truss bridge using vibration-based and ultrasonic methods. Smart Materials and Structures, 20(3), 035016.
Levitt, B. & March, J.G. (1988). Organizational learning. Annual Review Sociology, 14(1), 319–340.
Meyer, M.H., & Utterback, J.M. (1993). The product family and the dynamics of core capabilities. Sloan Management Review, 34(3), 29–47.
Mishra, A.A., & Shah, R. (2009). In union lies strength: Collaborative competence in new product development and its performance effects. Journal of Operations Management, 27(4), 324–338.
Moreau, F.B., & Parguel, B. (2011). Building brand equity with environmental communication: An empirical investigation in France. EuroMed Journal of Business, 6(1), 100–116.
Morgan, R.A., Vorhies, D.W., & Mason, C.H. (2009). Market orientation, marketing capabilities, and firm performance. Strategic Management Journal, 30(8), 909–920.
Olavarrieta, S. & Friedmann, R. (2008). Market orientation, knowledge-related resources and firm performance. Journal of Business Research, 61(6), 623–630.
Oliver, N., Dostaler, I. & Dewberry, E. (2004). New product development benchmark: The Japanese, North American, and UK consumer electronics industries. Journal of High Technology Management Research, 15(2), 249–265.
Park, Y.H. (2010). A study of risk management and performance measures on new product development. Asian Journal on Quality, 11(1), 39–48.
Ragoobur, V.T., Ayrga, A. & Doomun, R. (2010). Internet bank- ing: A customer-centric perspective for Mauritius. Retrieved from http://www.uom.ac.mu/sites/ irssm/papers/Tandrayen-Ragoobur, %20 Ayrga%20 & %20 Doomun%20~%2069.pdf
Rainey, D.L. (2005). Product innovation: Leading change through integrated product development. Cambridge, United Kingdom: Cambridge University Press.
Roberts, P.W. & Dowling, G.R. (2002). Corporate reputation and sustained superior financial performance. Strategic Management Journal, 23(12), 1077–1093.
Runyan, R., Huddleston, P. & Swinney, J. (2006). Entrepreneurial orientation and social capital as small firm strategies: A study of gender differences from a resource-based view. The International Entrepreneurship and Management Journal, 2(4), 455–477.
Salleh, N.A.M., Jusoh, R. & Isa, C.R. (2010). Relationship between information systems sophistication and performance measurement. Industrial Management and Data Systems, 110(7), 993–1017.
Sanyal, S.N. & Banerjee. A.K. (2008). Evolution from commodity to international branding: An Indian case study in gems and jewellery segment. Brand rising as products fall. New Delhi: Macmillan India.
Schewe, G. (1996). Imitation as a strategic option for external acquisition of technology. Journal of English Technology Management, 13(1), 55–82.
Sekaran, U. (1992). Research methods for business: A skill-build- ing approach (2nd ed.). New York: John Wiley & Sons.
Theoharakis, V., Sajtos, L. & Hooley, G. (2009). The strategic role of relational capabilities in the business-to-business ser- vice profit chain. Industrial Marketing Management, 38(8), 914–924.
Windley, P.J. (2002). The discipline of product management. Retrieved from www.windley.com/docs/ Product%20Management.pdf
Wittig, C. (2012). Employees’ reactions to organizational change. OD Practitioner, 44(2), 24.
Yavas, U. & Shemwell, D.J. (2006). Bank image: Exposition and illustration of correspondence analysis. International Journal of Bank Marketing, 14(1), 15–21.