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SUCCESS FACTORS IN NEW BANKING SERVICES
DEVELOPMENT IN IRAN


Jahangir Yadollahi Farsi
University of Tehran, Iran

Sedighe Taghizadeh
University of Tehran, Iran
 


ABSTRACT
This paper reports on findings of a study which collected information from the chosen seven big banks  in Islamic Republic of Iran to understand the key success factors of new service development in banking industry. The study is a survey research. It reveals that technical, market research, promotion skills, and access to on time information have the highest impact on new banking services development success. The study concluded that key success factors of new banking services development are: product development process, innovative services, organizational characteristics, customer attitude, market and competitors, skills and these consist of components that revealed from exploratory factor analysis.


Keywords: new product development, new service development, banking


JEL Codes: M13, M39