Marketing Plan for Mcbride Financial Services

Marketing Plan for McBride Financial Services

Marketing Plan for McBride Financial Services

McBride Financial Services is a start-up regional mortgage lender headquartered in Boise, Idaho. The firm specializes in conventional, FHA, and VA loans for home purchasing and refinancing. The company intends to expand its operations into Wyoming, Montana, North Dakota and South Dakota. McBride Financial Services wants to be the preeminent provider of low cost mortgage services using state of the art technology within the five states, by using the most efficient and effective processing of mortgage applications from start to finish. In order for McBride Financial to become the preeminent mortgage provider they need a comprehensive marketing plan to enlighten the customers of their presence and value.

Market Research would undertake

In order to achieve a clear and concise objective to the company’s marketing objectives two forms of marketing research would need to be conducted. Since McBride is operating at a loss, Exploratory Market research will need to be conducted to gather information to determine the Marketing issues and create avenues for consideration. Once a hypothesis of the marketing issues has been obtained, then another avenue of research can be started. (Armstrong & Kotler, p. 107) The Descriptive Research avenue would better describe the marketing problem from the hypothesis and outline the potential for McBride’s services to specific demographics and the attitude of the consumer to their service. A targeted database can be created from this research to better equip McBride Financial to meet their marketing objectives and financial goals. Most of this information can be obtained from online database resources.

Types of Media to be used

Currently McBride Financial is using local Television Ads, Newspapers, Information handouts, Local Radio stations, and local realtors. Although their media marketing covers a great deal of the venues used...