Virtual Organizations

McBride Financial Services - Marketing Plan

Company Background

McBride Financial Services is a regional start-up mortgage lending company with its headquarters base out in Boise, Idaho. The company’s mission is to be the preeminent provider for low cost mortgage services by providing state of the art technology to its clients. The company plans to extend its operations into Wyoming, Montana, North and South Dakota.

With these goals in mind, it is advised that McBride Financial Services take some time to research the areas that that are in and wish to expand to. Knowing what the market is like for financial services in those areas will provide key information on how to approach the marketing strategy. After knowing information like potential clients that may use this service, existing potential clients that use other firms and knowing how many other firms are out there can help McBride Financial Services to make the appropriate calls on their marketing strategy, like budgets and marketing channels.

Marketing Research

McBride Financial Services will need to focus their marketing research on current location and potential new locations. By researching and studying the habits of potential clients in the financial services area, it will give the company a rough idea on just how many potential clients there are and also can provide information on just how much competition is out in that area. Researching the geographical location can also provide new information like potential areas to market in where people getting financial services are increasing. This can help the company be one of the first to target that area.

Another marketing research technique that can be used for new clients is to track current and new ad placements. These ad placements will provide the company information about what ad channels are working and the ones that are not, whether it is mailers, site ads, or marketing letters/emails. This will help the company maximize their investment...