Marketing Plan for McBride Financial Services"McBride Financial Services will be the preeminent provider of low cost mortgage services using state of the art technology" (Apollo Group, 2005). Currently McBride is operating in five states including Idaho, Montana, Wyoming, North Dakota, and South Dakota. McBride Financial services wants to be a one-stop mortgage provider by offering the most efficient and effective processing of mortgage applications from inception to closing.
One of McBride's goals is to achieve financials break-even within six months of commencing operations. In order to accomplish this goal, a comprehensive and effective marketing plan will be a key goal. The most important key to this marketing plan would be McBride's target market. According to McBride Financial Services, they are looking to target three potential customers: professionals purchasing a primary or secondary residence, retirees purchasing a primary or secondary residence, and families or individuals purchasing recreational properties.
To initiate a marketing plan it will be important for McBride to choose what type of market research will best benefit the company.
At this point in time, McBride would benefit most from customer research and what types of customers they can obtain. Competing in the mortgage market can be difficult with the heavy amounts of competition and ever-changing rates. That is why it will be important for McBride to be customer friendly and provide services that will attract and meet the needs of the current customer market. Once McBride has the tools to provide their customers with a convenient and ongoing mortgage service, they must then provide competitive rates to attract and maintain their customer base. With a solid foundation for a customer friendly mortgage company, the second part of the marketing plan will include media advertising.
When choosing types of media for advertising, the most important point to keep in mind...