Marketing Plan for McBride Financial Services
McBride Financial Services is a start-up regional mortgage lender. They are headquartered in Boise, Idaho and plan to expand into a five state operation. The firm specializes in FHA, VA, and conventional home loans and refinancing. Upon approved credit, McBride Financial Services will provide a credit report, a home inspection, an appraisal, and mortgages at the lowest rate available at the time, for a very low price.
The market research that needs to be used is finding the need for the product through surveying at places that promotion is planned to take place. This consists of scoping places that may be good for the company to find consumers. Realtor offices are a great place to survey not only their potential customers, but office staff that conducts customer relations. Another great place to survey people is at major tourist attractions and air ports. Sometimes offering a little incentive goes a long way with peoples’ time, so it wouldn’t be a bad idea to network with a business in these places and see if they will partner with you to give out coupons for their product. Web surveys should also be considered. A local news site would be a great place to poll people; this will also provide information on what type of consumers read that specific local online news source.
To research the process of marketing for McBride Financial Services, a research plan is needed. While making a marketing plan the 4Ps have to be answered with SIVA. The 4Ps are Product, Promotion, Price, and Place. The 4Ps are considered to be on the supply side of the equation. On the demand side of the equation SIVA is found. SIVA stands for Solution, Information, Value, and Access. When the two are put together in the equation side by side you have a form where each part of the 4Ps demands an answer from SIVA. The first P is product, what is the product? The product for McBride is mortgage lending and refinancing. The solution to this is...
Please join StudyMode to read the full document