edf40wrjww2CF_PaperMaster:Desc
Running head: PROBLEM SOLUTION: USA WORLD BANK
Problem Solution: USA World Bank
xxxxxxx
University of Phoenix
Problem Solution: USA World Bank
USA World Bank is a successful international bank with a large consumer and small business base clientele. In order to continue to expand its market share, USA World Bank rolls out a new product annually. Over the past few years the new products have not been very successful causing a number of its customers to examine the possibility of changing banking institutions. At face value it appears that the primary issue facing USA World Bank is which product to launch this year. A deeper inspection will demonstrate that the product development division has not been attaining representative statistical data, does not know how too fully interpret the data collected, and has poor internal communication problems which lead to overlapping data collection.
Situation Analysis
Issue and Opportunity Identification
The primary issue facing USA World Bank is the company launches one new product annually and over the past few years the new products have not been successful. If successful, the new products being explored, Instant Rewards and Small Business Card, will help guide lost customers and attract new customer to USA World Bank. Due to the cost of launching a new product only one of the two will launched so a decision must be made about which product should be implemented.
The Vice President of New Product Development Mary Monroe and the Vice President of Marketing Development Jim Wilson are both lobbying to have their product brought to market as this year's new product. As a tool to justify which product should be brought ...