This study investigates the role of information sharing offices and its association with market

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This study investigates the role of information sharing offices and its association with market

Purpose -Holistically 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/approach -A 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. Findings -This 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/implications -This emerging approach to NPD suggests a new perspective on how to achieve NPD success in the financial services sector. Practical implications -Managers 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/value -Provides 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.

Purpose – The purpose of this research is to investigate the direct and indirect effects of these determinants on purchase intentions. Competitive environments such as those in retail and banking industries impose increased pressure on managers to enhance customer satisfaction and purchase intentions. Even though satisfaction and purchase intentions are well studied in prior literature, their determinants such as service-oriented employee behavior, advertising campaign familiarity, physical environment and service quality have not been fully investigated together. Design/methodology/approach – Data from a survey of 508 customers of Korean up-market retail supermarkets and banks are utilized to empirically evaluate the model. Findings – Results indicate that service-oriented employee behavior and the physical environment have no direct effect on purchase intentions. However, these constructs indirectly influence purchase intentions through the mediating role of service quality and customer satisfaction. Service-oriented employee behaviors play a major role in enhancing service quality and customer satisfaction, but do not directly impact purchase intentions. Interestingly, the strongest direct effect on purchase intentions is more likely to come from service quality, rather than satisfaction. Practical implications – Findings suggest that for service industries such as retail and banking, it may be strategic to invest more resources aimed at enhancing service-oriented employee behaviors and the physical retail environment compared to advertising campaigns. Originality/value – Even though prior research has considered the concepts studied here, this study aims to empirically evaluate a variety of antecedent factors that potentially affect purchase intentions. Relationships are established utilizing data collected in South Korea (an increasingly important consumer market) which adds value to extant knowledge in this area.