McBride Financial Marketing Plan
Based out of Boise, Idaho, McBride Financial Services is a small mortgage lender that is in its beginning stages. The firm’s focus will be in standard, FHA, and VHA loans for home refinancing and purchasing. The company hopes to increase its offices into Wyoming, Montana, North Dakota, and South Dakota. “McBride Financial Services will be 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.” (University of Phoenix, 2005, 2011, para. 2). McBride Financial Services has decided to redesign it’s marketing plan so they can reach individuals that fit the profile of the type of consumer that their services are created for. Now let us look into what it will take to create a strong marketing plan for McBride Financial Services.
The first step in creating a strong marketing plan is research. Researching the product is a way to find out what catches customers’ attention by looking at their actions and coming to conclusions from what is observed. Using market research is a helpful means that can save the company time, effort, and money. By performing this research, McBride will gain the opportunity to market to certain types of individuals that are more likely to purchase their service instead of wasting money advertising in a general region. One source that will be useful to McBride Financial Services is the use of ad tracking. The use of ad tracking will allow for the monitoring a brand’s performance and it will let McBride know how the public feels about their brand. Another research method McBride Financial Services will use is Buyer Decision Processes. This will help show what motivates individuals to buy as well as what decision-making process they use. A combination of ad tracking and Buyer Decision Process will allow McBride Financial Service to target the type of consumer they need to...
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