Running head: PROBLEM SOLUTION: USA WORLD BANK
USA World Bank
University of Phoenix
MBA/510 – Managerial Decision Making
Problem Solution: USA World Bank
USA World Bank (UWB) is a successful global financial institution and a key player in the banking industry both internationally and domestically with continuous success in several worldwide business ventures. They have several branch locations worldwide and the bank enjoys success in the consumer and the small business areas. “UWB feels the need to develop profitable new products that will continue to expand its market share” (University of Phoenix, 2008).
For several years now the banking industry has experienced intense pressure to identify and launch campaigns for new products within the United States and around the world. The competition today has made it slightly difficult when selecting a successful product. USA World Bank is a financial institution striving to survive in a competitive industry.
The bank is now faced with making a decision to select a new product to launch. So far they have come up with two possibly new products to offer to their customers, a credit card which would offer an incentive program for the consumers with a frequent flier program and a small business credit card with a limit of $200,000, for capital purchases, discounted interest rates and it would also offer various reward incentives. Both possibilities were evaluated and different methods were used to survey various customers to get a clear and concise understanding of what they are looking for the business to provide. They are now faced with making a decision to select which product would help make the bank more profitable and retain current clients and attract new ones.
Several key players of the USA World Bank team have gathered together to evaluate research conducted by Best Market an outside agency which includes various ideas received from surveys given to their customers. Many of the...