Lesson 3 Assignment: Research Questions & Theoretical Framework
The Impact of Innovative Product Development in Retail Banking Excellence
Questions to be answered within the research:
1.) What are the effects of Innovative Product Development on Retail Banking Excellence?
2.) Are there any significant differences between innovative product developments in banks with respect to that of sales performance?
3.) Are there any significant differences between using digital technology in product development for consumer based engagement?
Conceptional framework
1. Dependent Variable “Retail Banking Excellence”
- Retail Banking definition: Retail Banking involves the processes in the marketing of financial products to retail customers (Bapat, 2015). …show more content…
Customer service excellence: customer expectations expand and as product offerings hardly differ from each other, service excellence has gained in importance as a means of enhancing customer loyalty by reciting banking offerings that reduce complexity and provide hassle-free interactions (Gouthier, 2012).
b. Operational excellence: is the optimal use of people, process and products to facilitate the successful implementation of bank’s strategy to achieve operational efficiency and positive customer experience. (Sabatini, 2006).
2. Innovative Product Development (independent variable)
The mastery of innovation is the ability to get great ideas out into the market so that they can deliver value for paying customers, with consistency and predictability (Radeka, 2013).
The engine of an economy is innovation in product development and commercialization …show more content…
This study is done in order to implement IS Success on “The Impact of Innovative Product Development in Retail Banking Excellence” in the banking and business sector which will be an expanded idea to offer an innovative approach which thus yields new insights into the conception of retail banking excellence.
The research will use the quantitative method by selecting a sample of the research to present retail banking systems in San Diego and the customers of San Diego banks by conducting a questionnaire and interviews as well in order to gather information on the cooperation between retail banking excellence and innovative product development in attempt to answer the research questions by using statistical analysis method such as multiple hypothesis testing and ANOVA technique.
Summary
Innovation is the only way to keep growing, improving and being ahead of the competition. The Product developers will hence systematically solve problems in order to maximize value and minimize waste across the entire system in order to Meet Needs More Completely. Teams have the ability to learn more about customer needs and the ability to translate that knowledge into products with the right benefits at the right
The Impact of Innovative Product Development in Retail Banking Excellence
Questions to be answered within the research:
1.) What are the effects of Innovative Product Development on Retail Banking Excellence?
2.) Are there any significant differences between innovative product developments in banks with respect to that of sales performance?
3.) Are there any significant differences between using digital technology in product development for consumer based engagement?
Conceptional framework
1. Dependent Variable “Retail Banking Excellence”
- Retail Banking definition: Retail Banking involves the processes in the marketing of financial products to retail customers (Bapat, 2015). …show more content…
Customer service excellence: customer expectations expand and as product offerings hardly differ from each other, service excellence has gained in importance as a means of enhancing customer loyalty by reciting banking offerings that reduce complexity and provide hassle-free interactions (Gouthier, 2012).
b. Operational excellence: is the optimal use of people, process and products to facilitate the successful implementation of bank’s strategy to achieve operational efficiency and positive customer experience. (Sabatini, 2006).
2. Innovative Product Development (independent variable)
The mastery of innovation is the ability to get great ideas out into the market so that they can deliver value for paying customers, with consistency and predictability (Radeka, 2013).
The engine of an economy is innovation in product development and commercialization …show more content…
This study is done in order to implement IS Success on “The Impact of Innovative Product Development in Retail Banking Excellence” in the banking and business sector which will be an expanded idea to offer an innovative approach which thus yields new insights into the conception of retail banking excellence.
The research will use the quantitative method by selecting a sample of the research to present retail banking systems in San Diego and the customers of San Diego banks by conducting a questionnaire and interviews as well in order to gather information on the cooperation between retail banking excellence and innovative product development in attempt to answer the research questions by using statistical analysis method such as multiple hypothesis testing and ANOVA technique.
Summary
Innovation is the only way to keep growing, improving and being ahead of the competition. The Product developers will hence systematically solve problems in order to maximize value and minimize waste across the entire system in order to Meet Needs More Completely. Teams have the ability to learn more about customer needs and the ability to translate that knowledge into products with the right benefits at the right