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USA World Bank - Case Study Example

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Summary
USA World Bank has been a very successful firm, both for consumers and small businesses domestically and internationally. Like all companies, it needs to come up with new and exciting products for its customers so that they remain committed to the company…
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USA World Bank
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USA World Bank

Download file to see previous pages... USA World Bank has been a very successful firm, both for consumers and small businesses domestically and internationally. Like all companies, it needs to come up with new and exciting products for its customers so that they remain committed to the company. The Board of Directors wants the company to launch just one product each year. This one product can focus on the consumer side or the small business owner side. However this can result in conflicting ideas internally and as well as with conflicting customers. It is the decision of the president and vice president to come up with the new product and launch it in the current time frame.Each year Managers at USA World Bank are required to launch a new product for their bank. This has become the tradition that the president and vice president of New Product Development brainstorm and then create an idea for the product and then present it to the Board of Directors for approval. In recent years the all the new products launched have been marginally successful therefore there is increased pressure on the president and vice president this year to deliver the goods. Without concurrent launching of new products, USA World Bank feels that it would lose its market share and its huge customer base to other new and agile banks. [3]Like any company UWB, wants to maximize its profitability while satisfying its customer needs. It takes into consideration the customer requirements and prioritizes the needs to identify which customers its product will be targeted towards. The Company faces a dilemma in this scenario whether to launch a Consumer Product or a Small business Owner product. Catering to one or the other will create a bad reputation from the other side.
The second stakeholders are the general consumers. They have the right to purchase the product from UWB and to be or not to be a part of the company. They want to maximize the utility they get on purchasing the products from the company. Their interests clash with the interest of the Small Business Owner Card holders and they are given higher priority.
The third stakeholders are Small Business Owners for whom a different kind of card is being sought to be produced. They have the right to purchase the product from UWB and to be or not to be a part of the company. They want to maximize the utility they get on purchasing the products from the company. Their interests clash with the interest of the general consumers because they are given lesser priority. [1]

Problem Statement
USA World Bank will cater to all customers to increase market share and market value by building close customer relationships.



End-State Vision
USA World Bank will add value to its customer base by offering affordable products and incentives to increase its market share.

Alternative Solutions

Alternative solutions are generated from the problem at hand. Mary Monroe wants to go ahead with the Consumer product while Jim and executives emphasize for the Small Business Owner product. Brian is confused whether to go for both products or simply do more research to find out which one is more feasible. Here is the list of alternate solutions
Launch General Consumer Product
Launch Small Business Owner Product
Launch Both Products
These alternatives are included in the secondary alternatives as the company wants to launch the product this year without any delays.
Delay launching product until further research studies are not completed
Don't launch any product this year


Analysis of Alternative Solutions

There are 4 different goals that have been identified for USA World Bank from this scenario. The cost is not considered that important like Brian Allen said therefore it is assigned a rating of 2. A ...Download file to see next pagesRead More
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