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The greatest occupational high that financial services Marketing Directors experience is bringing a vision to market through a financial product or service innovation. Seeking to experience the same euphoria that great inventors like Benjamin Franklin or Thomas Edison must have felt, they follow their dream of implementing a financial product idea that they believe will generate significant incremental sales. Unfortunately, that dream seldom becomes reality.
We have been monitoring financial product launches for over two decades and now recognize that the failure rate off financial products and services is well in excess of 80%. Despite these odds, the search for the next big financial product idea lives in the hearts and minds of almost every worthy financial services Marketing Director.
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Only a few decades ago, the vast majority of new financial products and services introduced into the marketplace were successful. In today?s cluttered competitive financial services marketing environment, however, virtually all financial product and service categories have matured and aree over-represented. Now, to become a marketplace success, a new financial product usually has to take market share from already established brands.
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4d ScanMums and dads are lucky these days because they can see their baby before it is even born. A
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