What's in Store at Umpqua Bank

What's in Store at Umpqua Bank

I. Statement of the Problem:

* How the Umpqua Bank modernization of technology would enhance their ability to develop information about banking products, services and enthusiasm making it applicable to their customers?

II. Objectives:

* To be able to determine the cause of the problem and come up with alternative solutions

* To be able to utilize different appropriate strategies of variation.

* To present proposal that can help meet requirements of the Umpqua Bank.

III. Alternative Course of Action:

1. Cognitive style: Consumers ability to act in new resources.

: Umpqua Bank should continue delivering system that is applicable to their consumers' needs and wants such as using technology to enhance their consumer's pleasure and continue doing business with the bank.

Advantage/s: Technology can assist employees and customers transact business together and/or to their convenient time especially to the customers because expertise such as in internet connection can help customers can gain knowledge and information about what and why they want to transact in the Umpqua bank. (p63)

New technologies are gaining widespread acceptance in which allowing customer relationship management to become direct independent.

Disadvantage/s: complexity of information: sometimes, there will be customers who are hesitant on the ability of technology to help them guide to information they want to know that will lead to complicating them.

2. Umpqua Banks should prepare for overlapping competitive dynamic in retail economic services.

Advantage/s: Retail banking offers a bigger profit pool and stable returns through this can give more attention with their customers.

Disadvantage/s: Competitors will imitate their strategy that will lead to invade their opportunity to have the only bank with such services.

3. Umpqua Bank should increase their convenience of banking through network management: it will be an important driver of customer behavior. Given the changing formats in the future, the Umpqua bank can improve their network management to enhance customer convenience.

Advantage/s: Increasing and developing a series of system models that examine current and future market demands and competitive positioning to give them a competitive edge is to identify the gaps in the existing network configuration.