Mcbride Financial Services Marketing Plan

McBride Financial Services Marketing Plan

BSA310

September 23, 2010

McBride Financial Services Marketing Plan

Introduction

McBride Financial Services seeks to become the preeminent provider of low cost mortgage services using state-of-the-art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota. The company intends to expand its operations into Wyoming, Montana, North Dakota and South Dakota (Apollo Group, Inc., 2003)

To attain status as a preeminent provider, McBride will first need to conduct market research to determine the customer’s needs and also what demographics are in the businesses operating areas. After completing this research, McBride Financial Services can then target customers effectively according to demographic and the type of media the customer is most likely to investigate for a mortgage provider. In this paper the types of research to be completed, the target markets for McBride, and the most effective use of different types of advertising media are examined for the business.

Market Research

McBride Financial Services must conduct specifically targeted market research to provide information to determine the effectiveness of the proposed marketing campaign. By studying the purchasing habits of individuals from different areas and demographics, McBride can target specific markets in lieu of advertising to the general public. This is considered descriptive research. Descriptive research is defined as study to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product (Armstrong and Kotler, 2011).

McBride can also benefit from the use of Ad Tracking. Using Ad Tracking, McBride can monitor the effectiveness of the different marketing methods in use, and redirect funds to the types of advertising and marketing that have proven to be the most useful for the business.

In addition to generalized market research and Ad Tracking,...