The Influence of New Product Launch Strategy on Bank’s Profitability

Abstract

The study examined the influence of new product launch strategy on bank’s profitability, focusing on HFC bank, Cape Coast. Descriptive research design was used. The census method was used to capture all the 23 staff while the random number method of simple random sampling procedure was used to select 57 premium customers. Data were collected using questionnaire. The data were analysed using multiple regression analysis. The study established that the new product launch strategies of the bank and its service quality relate positively to the bank’s profitability. However, new product launch strategies alone do not strongly predict the bank’s high profitability. It does so only if staff and customers perceive the products and services provided by the bank in positive terms. It is, therefore, recommended that management should ensure that the bank’s product launch strategies are improved to increase its customer bas