Running head: PROBLEM SOLUTION: USA World Bank
Problem Solution: USA World Bank
Problem Solution: USA World Bank
USA World Bank, "UWB" is a well established bank serving a large consumer base and small business customers throughout their several branches. While serving their customers domestically as well as in international locations UWB has not only a desire but a need to develop profitable new products. Their goal is to develop a new profitable product that will not only be a success in the United States but internationally as well. Due to a need to develop profitable new products that will continue to expand their market share, reduce economic pressure and competition UWB would like to introduce a product that will be developed and marketed appropriately. The development of this new product will allow for UWB to further expand internationally and spark some possible competition in the foreign market. Although there are currently two products on the table up for discussion UWB is only able to introduce one new product per year. UWB must analyze which market will bring in the most profit. Are they better off releasing a credit card for small business owners with a reward component or introducing and Instant Reward consumer credit card? By trying to show customer's that they cared about their needs and wanted to offer more diverse services a marketing research firm conducted a survey but the results of the survey may not be accurate.
Situation Background (Step 1)
UWB is facing many issues amongst the management staff regarding the methods and procedures being used to collect data. The management team needs to be educated on the various market research methods avail ...