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The role of product development practices on new product performance: Evidence from Nigeria's financial services providers
This study investigates the impact of product development practices on the performance of new financial products and services through the analysis of ten in-depth case studies. We argue that weak product development practices negatively affect product performance. This study finds that in Nigeria, n...
Autores principales: | , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
American Elsevier
2021
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7893682/ https://www.ncbi.nlm.nih.gov/pubmed/33664533 http://dx.doi.org/10.1016/j.techfore.2020.120470 |
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author | Iheanachor, Nkemdilim Umukoro, Immanuel Ovemeso David-West, Olayinka |
author_facet | Iheanachor, Nkemdilim Umukoro, Immanuel Ovemeso David-West, Olayinka |
author_sort | Iheanachor, Nkemdilim |
collection | PubMed |
description | This study investigates the impact of product development practices on the performance of new financial products and services through the analysis of ten in-depth case studies. We argue that weak product development practices negatively affect product performance. This study finds that in Nigeria, new financial product performance is suboptimal because of poor product development practices. This study further shows that when poor execution follows inadequate product development practices, the likelihood of product failure increases, as evidenced by poor product performance and low adoption. The processes adopted in the development of financial services affect the adoption, use, and overall penetration of the product in the target market. Therefore, this study suggests that the management team of various financial service providers invest in developing sound product development practices in the actualization of their goals of increasing the adoption and use of their products. |
format | Online Article Text |
id | pubmed-7893682 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2021 |
publisher | American Elsevier |
record_format | MEDLINE/PubMed |
spelling | pubmed-78936822021-03-02 The role of product development practices on new product performance: Evidence from Nigeria's financial services providers Iheanachor, Nkemdilim Umukoro, Immanuel Ovemeso David-West, Olayinka Technol Forecast Soc Change Article This study investigates the impact of product development practices on the performance of new financial products and services through the analysis of ten in-depth case studies. We argue that weak product development practices negatively affect product performance. This study finds that in Nigeria, new financial product performance is suboptimal because of poor product development practices. This study further shows that when poor execution follows inadequate product development practices, the likelihood of product failure increases, as evidenced by poor product performance and low adoption. The processes adopted in the development of financial services affect the adoption, use, and overall penetration of the product in the target market. Therefore, this study suggests that the management team of various financial service providers invest in developing sound product development practices in the actualization of their goals of increasing the adoption and use of their products. American Elsevier 2021-03 /pmc/articles/PMC7893682/ /pubmed/33664533 http://dx.doi.org/10.1016/j.techfore.2020.120470 Text en © 2020 The Author(s). Published by Elsevier Inc. http://creativecommons.org/licenses/by/4.0/ This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/). |
spellingShingle | Article Iheanachor, Nkemdilim Umukoro, Immanuel Ovemeso David-West, Olayinka The role of product development practices on new product performance: Evidence from Nigeria's financial services providers |
title | The role of product development practices on new product performance: Evidence from Nigeria's financial services providers |
title_full | The role of product development practices on new product performance: Evidence from Nigeria's financial services providers |
title_fullStr | The role of product development practices on new product performance: Evidence from Nigeria's financial services providers |
title_full_unstemmed | The role of product development practices on new product performance: Evidence from Nigeria's financial services providers |
title_short | The role of product development practices on new product performance: Evidence from Nigeria's financial services providers |
title_sort | role of product development practices on new product performance: evidence from nigeria's financial services providers |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7893682/ https://www.ncbi.nlm.nih.gov/pubmed/33664533 http://dx.doi.org/10.1016/j.techfore.2020.120470 |
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