University of Phoenix
BSA 310-Business Systems
McBride Financial Services-Marketing Plan
The first step in any marketing plan should be marketing research. McBride Financial Services will be using a four step plan for gathering research for marketing. The goal of marketing research for McBride is to gather data from local chambers of commerce, visitors’ bureaus, and local realtors concerning the target market: professionals and retirees purchasing a primary or secondary home and families or individuals purchasing recreational properties. With suggestions from McBride the marketing plan will include television, radio, and newspaper advertisements; informational flyers, and the Internet. It is suggested that greater focus be placed on Internet marketing using customer testimonials and an exchange of Web links with other businesses in a relatable field. Marketing Research
There are four basic steps in the process of marketing research; defining the problem and research objectives, developing the research plan, implementing the research plan, and interpreting and reporting the findings (Armstrong & Kotler, 2005). McBride Financial Services’ problem is reaching the target market to become a profitable company within one year of operating with the objective of research being descriptive research, meaning that the research will describe the market potential for high-end, low-fee mortgages and refinancing within the target market (web& Armstrong & Kotler, 2005). McBride Financial Services’ target market is professionals and retirees purchasing a primary or secondary home and families or individuals purchasing recreational properties (web). The next step in marketing research is to develop the research plan. The research plan for McBride Financial Services should incorporate data from chambers of commerce, visitors’ bureaus, and local realtors from the areas surrounding the company’s eight...