Buy custom Problem Solution: USA World Bank
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| Topic: |
Business
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| Number of pages / Number of words: |
16 / 4398 |
Essay's paper body
The key stakeholders in this situation include the board of directors, company's senior management, stockholders, Best Market Research, Mary Monroe, Vice President of New Product Development and Jim Wilson, Vice President of Marketing Development for USA World Bank, and the customer base.
Given the failure rates of the past few new product launches, the hard questions need to be asked by the board of directors, such as: is the way the supporting data representative of the population? Did the individuals being surveyed feel pressured for the right answer? Did individuals answering the question skew his or her answers based on ownership of the company they manage?
The senior management at USA World Bank needs to make sure that individuals are not working corporate politics to his or her advantage when it could possibly cause a loss of revenue through the loss of customers...
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USA World Bank needs to have a process for capturing product ideas and be able to efficiently develop and market the new ideas.
When developing the statistical support for new products, Mary and Jim need to make sure that the data being collect is representative of the population, the information is timely and covers the entire market opportunity and is not skewed by the ownership/management of small business...
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