Mcbride Marketing Paper

McBride Marketing Paper

BSA 310

University of Phoenix

McBride Financial Services, a regional mortgage lender start-up whose corporate goal is providing low-cost mortgages to home-buyers. Currently located in Boise, Idaho, McBride currently plans to expand business operations to Montana, Wyoming, North and South Dakotas. McBride Financial handles FHA an VA loans, with the most advanced technology available. The company also offers home inspections, home appraisals, credit reports, and mortgage rates at the best possible rates. McBride's corporate goal is to break-even financially within six months of business operations, and within a year to turn a profit, while leveraging technology to maximize business operations while minimizing losses.

Currently McBride is in the process of creating a marketing plan in order to advertise the business and increase its customer base. As this is a start-up the cost for implementing the promotions are set at a maximum of $50,000. There after the monthly budget is set at $5,000, with the option to be altered based on corporate financing.

The detailed McBride Financial marketing plan is as follows:

Internet

TV ads

Newspapers

Local Realtors

Handouts in high-populated zones

“Local newspaper advertising often cost a little more than local TV advertising and internet advertising, but it can be extremely effective for some demographics” (Liz Shepherd, eHow.com, 2011). Among the older generation there is an increase in newspaper readers, this demographic also tends to have more money available to spend. The older demographic is an ideal group when providing mortgages. Additionally on average people who are frequent newspaper readers often have higher incomes. Printed advertisements also provide the added benefit of being tangible, allowing individuals to take the ad with them and not have to attempt to remember or write down the information. With local advertisements in...