Success Factors in Developing New Business Services

What factors lead to success in the development of new businesses services? By synthesising the literature on new goods development and services marketing, the results of a major empirical investigation of new service development in the business-to-business services sector are reported. A set of factors that describe new service projects is identified and which factors are responsible for accomplishing different forms of success are shown. Further, the findings speak to managers about how the features that distinguish services from physical goods impact on the successful development of new services. Developing new services that provide clients improved functional and experiential quality, that are innovative and truly superior to competitive offerings, and that benefit from a proficient new service development process, as well as from the unique strengths of the firm are key requirements for creating and marketing winning new services.