Under current conditions of competition, it becomes more and more risk for a bank or an insurance company not to innovate. Customers expect a steady stream of new products and services [1-3]. The competition will certainly do its best to satisfy those desires. Continuous innovation is the only strategic choice to avoid loss of market share, many studies claim that the prosecution and the blind imitation of competitors and neglect of clients are the underlying reasons for many failures of new financial products [4,5]. This paper presents a framework for innovation in financial services and the consequences of imitation in terms of innovations in financial services. The study was conducted in two parts: the first part focuses on the concepts of innovation in services and the creative process and the implications as well as marketing and organizational success factors and causes of failures of new banking products and services and insurance, through a guide 26 maintains direct interview questions to each manager (regional directors) of banking and insurance. This paper proposes to shed light on this issue.
KeywordsInnovationImitation and ServicesMarketing
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