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Managing marketing information in financial services product development - Volume 2

Heron, T. (1995). Managing marketing information in financial services product development - Volume 2. (Unpublished Doctoral thesis, City, University of London)

Abstract

This thesis reports on the findings of an investigation into how superior product developers manage their marketing information during the creation of their highly successful new products.

Arising from a review of the marketing and product development literature we analyse and discuss the critically important role of marketing information in product development activities, in the factors underlying successful new products and in product development decision making. Although marketing information is increasingly recognised as a key corporate asset by scholars and practitioners, we find theoretical and empirical evidence concerning its poor management during key product development tasks. Our review of the literature identities eighteen individual managerial actions concerned with the management of marketing information. These actions are proffered by the literature as important to the way in which outstanding firms distinguish their management of marketing information from the approach of their less successful counterparts. Collectively these eighteen managerial actions suggest a conceptual framework for managing marketing information within product development.

Arising from a preliminary field study we find evidence of diversity in the frequency and proficiency with which these eighteen key managerial actions are undertaken in two new and exciting program level development contexts; the creation of new individual pension products and Personal Equity Plans (PEPs). Using a hybrid hypothetico-deductive/inductive research technique we formulate a principal hypothesis and eighteen supporting hypotheses which postulate that superior product developers manage their marketing information in ways which are significantly more skilful than less successful developers. By skilful we mean with significantly greater frequency and proficiency of execution.

Our findings indicate that skilful management of marketing information is an important variable associated with highly successful new products. In particular our findings, confirmed by replication in a secondary research context, suggest that during product development, superior product developers invoke significantly greater frequency and proficiency in the execution of the following four managerial actions,

: They more frequently and proficiently implement marketing information for a greater number of purposes and
: They exchange marketing information more frequently and proficiently between product development participants and
: They more frequently and proficiently implement structured analyses of their marketing information and
: They more frequently and proficiently plan the sources of their marketing information.

These research findings represent new knowledge concerning how to manage a key corporate asset (marketing information) during an important business function (product development) which is essential for future corporate survival and growth.

Publication Type: Thesis (Doctoral)
Subjects: H Social Sciences > HG Finance
Departments: Bayes Business School > Bayes Business School Doctoral Theses
Bayes Business School > Finance
Doctoral Theses
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