Usa World Bank Problem Solution
Problem Solution: USA World Bank
This paper will discuss the problems and solutions of USA World Bank (UWB) whom is a major bank with both an international and domestic presence. UWB has branch locations nationwide and enjoys a large consumer and small business base, and has been successful in several worldwide ventures. However, like all international organizations, UWB feels the need to develop profitable new products that will continue to expand its market share. Though new products rollouts have been successful overall, they have been primarily defined within the United States. (University of Phoenix, 2006)
Describe the Situation
Issue and Opportunity Identification
The issues and opportunity identifications facing UWB are described as follows:
The primary issue facing UWB is the company launches a new product yearly and this year a decision must be made about which product should be implemented. Mary Monroe, Vice President of New Product Development is responsible for deciding which new product to present to the Board.
This year Mary is proposing a credit car that will work like a frequent flier program, where customers can earn rewards as a result of their purchases with the card. The card will be called Instant Rewards. (University of Phoenix, 2006)
Mary had Best Market Research conduct some feasibility studies for the Instant Rewards Consumer Credit Card product. According to Best, the Instant Rewards Consumer Credit Card will be successful. Their research indicates that the card could actually move people to switch from their current bank. (University of Phoenix, 2006)
On the other hand, Jim Wilson, Vice President of Marketing Development has increased UWB 's small business segment by 40 percent through successful relationship building with small-business organizations and owners. Jim believes he is in accord with this business segment because he connects well with relationship managers like Aaron Anderson, Beth Brown, and Charlie
This paper will discuss the problems and solutions of USA World Bank (UWB) whom is a major bank with both an international and domestic presence. UWB has branch locations nationwide and enjoys a large consumer and small business base, and has been successful in several worldwide ventures. However, like all international organizations, UWB feels the need to develop profitable new products that will continue to expand its market share. Though new products rollouts have been successful overall, they have been primarily defined within the United States. (University of Phoenix, 2006)
Describe the Situation
Issue and Opportunity Identification
The issues and opportunity identifications facing UWB are described as follows:
The primary issue facing UWB is the company launches a new product yearly and this year a decision must be made about which product should be implemented. Mary Monroe, Vice President of New Product Development is responsible for deciding which new product to present to the Board.
This year Mary is proposing a credit car that will work like a frequent flier program, where customers can earn rewards as a result of their purchases with the card. The card will be called Instant Rewards. (University of Phoenix, 2006)
Mary had Best Market Research conduct some feasibility studies for the Instant Rewards Consumer Credit Card product. According to Best, the Instant Rewards Consumer Credit Card will be successful. Their research indicates that the card could actually move people to switch from their current bank. (University of Phoenix, 2006)
On the other hand, Jim Wilson, Vice President of Marketing Development has increased UWB 's small business segment by 40 percent through successful relationship building with small-business organizations and owners. Jim believes he is in accord with this business segment because he connects well with relationship managers like Aaron Anderson, Beth Brown, and Charlie
References: American Express. (2006). Small Business. Retrieved September 25, 2006, from http://www.americanexpress.com Capital One. (2006). Rewards. Retrieved September 25, 2006, from http://www.capitalone.com Cooper & Schindler (2003). Business Research Methods, 8th ed. The McGraw-Hill Companies University of Phoenix. (2006) Week One Scenario. Retrieved September 11, 2006, from University of Phoenix, Week One rEsource. MBA510-Managerial Decision Making