Running head: PROBLEM SOLUTION: USA WORLD BANK
Problem Solution: USA World Bank
Lynette Jones
University of Phoenix
Problem Solution: USA World Bank---
Introduction
Team B has been challenged with the task of determining the most likely success in introducing the annual new products for USA World Bank. The Team has determined several possible opportunities to promote a successful project, including the suggestions given by Mary Monroe, the Vice President of new product development and Jim Wilson the Vice President of marketing development. Each suggestion is backed by research; the task for team B is to determine the best source of data to provide USA World Bank with the information that will allow the bank to make the best decision in product promotion for the year.
Situation Analysis
Issue and Opportunity Identification
USA World Bank has recently found itself losing business. Its past few attempts at introducing new products into the market have failed miserably. Executive management is looking for a new product that will succeed where the other have failed. In an attempt to come up with a new idea, the Vice-President in charge of new product designs, Ms. Mary Monroe, has hired an external firm to gather statistical information for a new product aimed at the individual customer. The firm, Best Market Research, has completed the surveys and returned the data to Ms. Monroe. In addition to this venture, Mr. Jim Wilson, Vice President in charge of Marketing, has also been gathering data on a new product aimed at the small business customers. Each of these managers has attempted to persuade the President of the company to get their products supported.
An initial issue is that the statistical data presented by Ms. Monroe is cluttered and unreadable to all except those intimately familiar with statistics. Data should be easily understood by the decision makers. Another issue is that the data was supported by deduction and not completely by fact....