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Examines the effects of service offered on the success of new customer financial services in the United Kingdom. Shows that previous research has concentrated on the new product process ignoring what are termed direct factors (characteristics that affect the interaction between the service offered and the consumer). Finds that a number of characteristics describing the service core and the augmented service offering are highly correlated with success.

Describes a qualitative research project involving a “narrowing” research process. The first stage involved initial, highly exploratory qualitative work. The findings led to a second stage that involved a review of relevant literature and secondary sources of data, followed by more focussed, focus group research into the issues uncovered. The problem investigated was how to measure customers’ evaluations of quality for an industry in which the service/product offering is dominated by the tangible product. The initial fear was that traditional process‐oriented measurement models for customer perceptions of quality, might not offer full and comprehensive measurement of all the antecedents of customer quality evaluations and their subsequent satisfaction with, and attitude towards, product‐dominated service providers. In attempting to answer the research question, the qualitative work undertaken suggests that consumers’ evaluations of quality will depend on product quality, process quality and additional external factor quality based on evaluations of image.

A study of the characteristics of successful new consumer financial products is described. The first stage of the investigation involved the identification of financial product attributes possibly associated with success. A total of 43 were found. Information was then collected on these attributes for 77 new financial products and was simplified by grouping into nine distinct factors. The article describes all nine factors in detail with illustrations. Four of the factors are particularly associated with success. They are: “overall quality” (the product, the delivery system, after‐sales service, the organisation′s reputation for quality); having a differentiated product (being first, being innovative); product fit and internal marketing (the new product complementing existing products and receiving the support of staff); and use of technology.

Contributes to the growing body of information on the determinants of performance in new products. Examines a sample of “typical” new products (instead of the more usual comparison of successes and failures) and identifies the factors that are crucial for producing outstanding performance in the financial services sector. Shows that marketing factors (i.e. effective distribution and effective communications) are the keys to new service success. In addition demonstrates the importance of the quality of the service offered and the quality of the tangible evidence of the service as a basis of outstanding performance. These key determinants of performance need to be built on the skills of the frontline staff and the push they give to the new product. Reiterates the importance of synergy when developing new products. Product advantage is not the key success factor, contrary to previous findings in other sectors. Attributes this to the nature of the sector studied (financial services) where sustainable competitive product advantage is rarely achieved. Makes a comparison between success factors for consumer services and industrial products/services.

The aim is to identify those areas of marketing in the financial services sector that deserve to be given priority attention. A number of marketing areas are identified and assessed on their scope for improvement, the ease with which they can be changed and also on the sensitivity of the performance of the organisation to an improvement in the area. The perspective is that of senior financial services marketing managers. The managers picked out pricing policy as one factor deserving to be given the highest priority. Improvements here are possible and, in addition, will show up in better company performance. Two other factors considered to be worth priority attention are the customer interface and marketing influence, although both are thought to be more difficult to change than pricing policy. Improvements in the new product development strategy area, whilst likely to produce significant improvements in company performance, were the hardest of all to achieve.

An attempt is made to identify those areas of marketing activity in the services sector that deserve to be given priority attention. A number of marketing areas are identified and assessed on their scope for improvement, the ease with which they can be changed and also on the sensitivity of the performance of the organisation to an improvement in the area. The perspective is that of senior marketing managers in the services sector. The managers picked out “pricing policy” as one factor deserving to be given the highest priority. Improvements here are possible and, in addition, will show up in better company performance. Three other factors were also thought to deserve priority attention: customer interface, marketing department influence and new product development strategy. The marketing managers considered that these too would produce better company performance if improved, although somewhat more difficult to change. Overall the managers indicated the importance they attach to those of their activities that affect the quality of the customers′ interaction with the company and its employees.

Explores the impact of a number of aspects of the new product development project on the success of new financial services in the United Kingdom. Finds that synergy between the new product and the organization, and the quality of internal marketing, are particularly associated with eventual success for the new product. Technological advantage, market research and responsiveness (i.e. speed of development) are also associated with success. Banks seem to be particularly effective in their use of market research, whereas building societies are good at internal marketing and synergy. New interest accounts have been particularly successful because of the use of market research and the speed of their development.

Over the last 20 years we have witnessed the emergence of a large‐scale, world‐wide academic movement concerned with the management of services. This paper charts the role and impact of operations management on this movement and proposes that the current key focus for service academics should be with the application of frameworks and techniques. Also suggests that as the service movement has grown, with increasing overlap between the subjects of operations, marketing and HRM for example, there is a need to “return to roots”. Contends that service academics, in their bid to develop cross‐functional service management material, may have lost, or inadvertently ignored, the strength of their core disciplines. Re‐focusing on the traditional strengths of operations management, such as performance quality, design, and operational improvement, might help provide a greater rigour to the developing subject of service management. Discusses nine areas for service operations research and suggests specific research questions. The topics include linking operational performance to business drivers, performance measurement and operations improvement, service design, service technology, the design of internal networks and managing service capacity.

Companies in all industries are searching for new sources of competitive advantage since the competition in their marketplace is becoming increasingly intensive. The resource-based view of the firm explains the sources of sustainable competitive advantages. From a resource-based view perspective, relational based assets (i.e., the assets resulting from firm contacts in the marketplace) enable competitive advantage. The relational based assets examined in this work are brand image and corporate reputation, as components of brand equity, and customer value. This paper explores how they create value. Despite the relatively large amount of literature describing the benefits of firms in having strong brand equity and delivering customer value, no research validated the linkage of brand equity components, brand image, and corporate reputation, simultaneously in the customer value–customer loyalty chain. This work presents a model of testing these relationships in consumer goods, in a business-to-business context. The results demonstrate the differential roles of brand image and corporate reputation on perceived quality, customer value, and customer loyalty. Brand image influences the perception of quality of the products and the additional services, whereas corporate reputation actions beyond brand image, estimating the customer value and customer loyalty. The effects of corporate reputation are also validated on different samples. The results demonstrate the importance of managing brand equity facets, brand image, and corporate reputation since their differential impacts on perceived quality, customer value, and customer loyalty. The results also demonstrate that companies should not limit to invest only in brand image. Maintaining and enhancing corporate reputation can have a stronger impact on customer value and customer loyalty, and can create differential competitive advantage.