McBride Financial Service
The purpose of this paper is to develop a marketing plan for McBride Financial Service. The paper will include what type of market research McBride should undertake. The various types of media Mcbride should use in the marketing plan. This paper will cover McBride’s target markets and explain why they are targets for McBride Financial Service. This paper will also cover what the considerations are for McBride to conduct a portion of their marketing on the Internet. Market research is a technique used to determine the acceptance of a product or service within different demographics. In the book Marketing: An Introduction market research is defined as [a systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization](Armstrong, 2011). A company can use market research to develop a target audience to help them pinpoint a specific demographic to market in. There are several forms of market research that McBride can use to help develop their marketing plan. The first would be online market research that will consist of Internet surveys and online focus groups. Online market research is easy for people in every demographic to participate in from home eliminating the need to travel to participate in focus groups. Internet surveys are taken online and the person filling out the surveys avoid the hassle of mailing the surveys back by simply clicking submit. Telephone interviewing is one of the fastest ways for a company to gather information for market research. Telephone interviewing is more personable than mail or Internet surveys and would be recommended for McBride Financial Services. An effective marketing plan should include using various types of media to advertise the goods or services a company offers. Types of media include radio, television, outdoor media, Internet, magazines, and newspapers. McBride Financial Service has many options to choose from...
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