Summary: Marketing Plan For Mcbride Financial Services

Marketing Plan for McBride Financial Services Paper Jody Cosentino BSA310 Business Systems I August 09, 2010 Jason Black Marketing plan for McBride Financial Services McBride Financial Services is a start-up regional mortgage lender headquartered in Boise, Idaho (Apollo Group, Inc., 2004). McBride Financial Services will be the preeminent provider of low cost mortgage services using state -of- the- art technology in the five state areas of Idaho, Montana, Wyoming, North Dakota, and South Dakota (Apollo Group, Inc., 2004). However, to be successful McBride will have to come up with an adequate marketing plan. The company has goals that they plan to
To develop successful strategies and action programs, marketers need up-to-date information about the environment, the competition, and the market segments to serve (Armstrong & Kotler, p. MP1). McBride Financial Services should use descriptive research. The objective of descriptive research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product (Armstrong & Kitler, p. 107). The company should use this research because it will help them to see who is in demand for their product, what the marketplace demand may be, where the demand is needed, when the demand takes place, why the demand is needed and how to deal with the demand. This will help McBride discover who may want their services. McBride Financial Services should take a look at mortgage companies that have been around for a long time and have been successful. This will give them an idea if what they are doing is going in the right direction or is not
By doing this a company needs to have an idea for a good marketing plan and who their target audiences are. McBride Financial Services has already developed a marketing plan in progress. They have chosen to promote their company through television ads, local newspaper ads, informational handouts at airports and major tourist attractions, local radio ads, and local realtors (Apollo Group, Inc., 2004). To start a marketing plan the company should decide on who they, want to target for their products. McBride Financial Services has already picked their target audience. First, target is professionals purchasing either a primary or secondary residence. Second, target is retirees purchasing a primary or secondary residence. Last, target is families or individuals purchasing recreational properties (Apollo Group, Inc., 2004). Starting off with a small target market will give the company an idea if needed to expand their target