McBride Financial Marketing Plan
University of Phoenix
McBride Financial is a fast growing organization with plans to open a total eight offices located in Idaho, Montana, Wyoming, South and North Dakota. Services will specialize in providing financial mortgage assistance to first time buyers, retirees, professionals, families and individuals with credit problems. McBride Financial provides customers with informative information without any hidden cost. Breakdown of services and rates are thoroughly explained with every home purchase. Applications are processed within one business day.
The development of McBride Financials marketing plan will require various forms of market research. The three major groups McBride will focus on will be first time buyers, buyers with credit problems, and retires purchasing primary or secondary homes. Market research will be conducted through the collection of surveys, contact methods, marketing intelligence and internal data. Advertising will consist of promotional television, radio, newspaper, and internet ads that appeal to specific marketing groups. Local realtors will be used for advertising purchases as well. Marketing strategies will be developed that establish McBride Financial as the leader in low cost mortgage services.
Most consumers have access to the internet; as a result McBride Financial will conduct online surveys to reach a broad focus group. “Online research accounts for 8% of all spending on quantitative marketing research, and most industry insiders predict healthy growth” (Armstoring & Kotler, 2005). Cost associated with online research is minimal and will help McBride Financial meet budget demands. The use of online surveys will be implemented to gain a better perspective of consumer needs. Surveys will consist of 25 questions related to home purchasing and financial planning. Surveys...