Benchmarking measures of customer satisfaction, quality and performance for new financial service products

Abstract

Addresses the issue of measuring the success of new products in a service environment by examining a number of measures under the three broad categories of customer satisfaction, quality and performance. Reports on the perceived effectiveness of different measurement approaches by benchmarking techniques currently in use in the financial services industry, by determining how informative management finds them, by isolating measurement approaches which are the most useful, and by identifying measurement approaches which are still needed. Confirms that service companies continue to employ many traditional success/failure measures, but that these are gradually being supplemented with new tools as executives begin to realize that strict profitability criteria are no longer enough to gauge the real success of service offerings.

Citation

Edgett, S. and Snow, K. (1996), "Benchmarking measures of customer satisfaction, quality and performance for new financial service products", Journal of Services Marketing, Vol. 10 No. 6, pp. 6-17. https://doi.org/10.1108/08876049610148567