...Marketing Plan - McBride Financial Services INTRODUCTION A new start-up organization named McBride Financial Services is a mortgage lending company based in Boise, Idaho. The organization specializes in a number of types of loans used for purchasing and refinancing homes. McBride Financial Services intends on serving communities with loans in five states, namely Idaho, Montana, Wyoming, North Dakota, and South Dakota. In order to target their regional market, the organization has budgeted $50,000 for initial promotions, and a subsequent $5,000 per month to continue supporting their marketing efforts. The current marketing strategy uses several avenues to promote the business, including local TV advertising, newspapers, brochures to be handed out at airports and tourist attractions, radio promotion, and through local realty companies. However, the currently proposed marking plan does not suffice to succeed in reaching their market. This essay explores additional methods should be explored to market the services that McBride Financial Services provides. MARKET RESEARCH AND MEDIA Although McBride Financial Services has identified several effective traditional marketing tools as part of their promotional campaign, their use of TV, radio, newspapers, etc., fails to capture feedback from their markets. This prevents them from their ability to ascertain the efficacy of their rather standard approach to reach their target audience, and provides no statistical information on which...
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...BSA BSA/310 McBride Financial Services is a startup mortgage lender headquartered in Boise, Idaho. The company will specialize in conventional, FHA, and VA loans for home buying and refinancing. The mission of this company is to provide low cost mortgage services operating in the following five states: Idaho, Montana, Wyoming, North Dakota, and South Dakota. This paper will describe a marketing plan designed to help McBride Financial Services to fulfill this mission using market research, media, target markets, and Web marketing. I would recommend that the first step of this marketing plan include conducting market research. I would begin by making the necessary inquiries to find out what the other mortgage lenders for the area are doing. An example of this would be to find out what their interest rates are, what their application process involves, and what the length of time between inquiry and closing is. Once this information is obtained McBride Financial Services will be able to become competitive in the market. They can concentrate on the customer experience. Research has soon that consumers will be more likely to use a service if it is user friendly and a pleasant experience. I would recommend that the next step of the market research should be to make personal visits to the real estate agents and brokers in the area. This would allow the agents to know more about McBride Financial Services and be able to recommend them to potential home buyers. The real estate agents...
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...McBride Marketing Plan [Your Name] BSA/310 Business Systems [Date] Instructor: [Name] McBride Financial Services is a startup mortgage lender headquartered in Boise, Idaho whose goal is to be the preeminent provider of low cost mortgage services in the five state area of Idaho, Montana, Wyoming, North Dakota, South Dakota. Their focus will be the processing of conventional, FHA, and VA loans not only for purchasing but for refinancing or interest rate reduction. MFS will target professionals and retirees that may be purchasing a primary or even secondary home, and families and/or individuals purchasing recreational properties. The purpose of this paper is to outline a marketing plan that will enable McBride Financial Services to accomplish their mission through market analysis, research and web based advertising. As with any marketing plan you must know the best ways to attract customers. This goes hand-in-hand with understanding customer needs and what type of service they expect from the provider. Analyzing a customer’s interest and ability in taking on a mortgage is also a key component to present and future success. Interest can be accelerated through various incentive programs, rebates and other offers that should be focused on making the decision process for the customer as easy as possible. One method to truly understand a customer’s interest is by conducting surveys and soliciting feedback. This simple research method helps to focus on the actual...
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...McBride Marketing Paper BSA 310 October 14, 2013 McBride Marketing Paper McBride Marketing overview McBride Financial offers financial services to customers in the following locations; Idaho, Montana, Wyoming, North Dakota, and South Dakota. Currently McBride Financial offers credit reports, home inspections, appraisals, and mortgages. Strong emphasis is placed on the use of modern technology to ensure the best and fastest service possible for McBride customers. Currently McBride is wanting to expand its customer base and is search of the best marketing ideas and techniques to do so. The following will outline what market research must be done. What elements of the media should be used, and how best to use them. What the target markets should be and how to recognize them. And how the internet can be utilized to farther increase the customer base Market Research One area that could prove useful to research is how other businesses’ similar to McBride are doing, and what techniques they are using if they are profitable. By analyzing how similar businesses are conducting their marketing strategies McBride could adapt some of their better ideas for themselves. McBride should also take a look at the current markets it is located in. If the states McBride is currently conducting business are some of the states that have a slow market for real estate then it may be wise to determine if McBride should stay in these states or open locations elsewhere. If the states they...
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...McBride Financial Marketing Luke T. Covalt University of Phoenix May 7, 2012 * McBride Financial Marketing McBride Financial is a new startup organization specialized in conventional, FHA, and VA loans for the purchase or refinancing of homes. McBride Financial is currently headquartered in Boise, Idaho. McBride is a rapidly growing company with plans to open a total of eight company branches located throughout Idaho, Montana, Wyoming, North Dakota, and South Dakota. McBride’s mission is to break even financially within six months of commencing operations. Because McBride is a little known, new company, an aggressive marketing campaign will help make McBride Financial a well-known, trusted lender. By developing a proper advertising and marketing campaign, McBride will be more apt to meet their ambitious financial goal of breaking even within six months. Target Market McBride Financial specifically targets the following types of home buyers: Professionals seeking a primary or secondary residence, retirees seeking a primary or secondary residence, and families or individuals purchasing recreational properties. By determining who their primary markets are, McBride will be able to better conduct market research into those groups of people. In turn, this will allow McBride to custom tailor services and marketing to their intended audience. Market Research Conducting market research will allow McBride financial to better understand its target customers and learn how...
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...Individual: McBride Marketing Paper Introduction McBride Financial Services is a start-up regional mortgage lender based in Boise, Idaho (Apollo Group Inc., 2011). Their financial services specialize in conventional, Federal Housing Administration (FHA), and Department of Veteran Affairs (VA) loans for home purchasing and refinancing (Apollo Group Inc., 2011). The company intends to expand its operations and enter into the states of Idaho, Montana, Wyoming, North Dakota and South Dakota. McBride Financial Services will offer low cost mortgage services using leading edge technology (Apollo Group Inc., 2011). McBride Financial’s goal is to achieve financial break-even in their first six months of business and plan to become a profitable company within their first year of business. McBride Financial will leverage technology to maximize efficiencies and minimize the cost for customers and businesses when applying for and obtaining mortgages. McBride Financial services plans to obtain high customer satisfaction rates, reduce costs, expand and improve work perfomance. To achieve these goals, the firm needs to focus on providing effective and efficient mortgage services which will increase their success in the market. To...
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...BSA 310 McBride Financial Marketing Plan University of Phoenix Marsha Siptak McBride Financial is a fast growing organization with plans to open a total eight offices located in Idaho, Montana, Wyoming, South and North Dakota. Services will specialize in providing financial mortgage assistance to first time buyers, retirees, professionals, families and individuals with credit problems. McBride Financial provides customers with informative information without any hidden cost. Breakdown of services and rates are thoroughly explained with every home purchase. Applications are processed within one business day. Marketing Plan The development of McBride Financials marketing plan will require various forms of market research. The three major groups McBride will focus on will be first time buyers, buyers with credit problems, and retires purchasing primary or secondary homes. Market research will be conducted through the collection of surveys, contact methods, marketing intelligence and internal data. Advertising will consist of promotional television, radio, newspaper, and internet ads that appeal to specific marketing groups. Local realtors will be used for advertising purchases as well. Marketing strategies will be developed that establish McBride Financial as the leader in low cost mortgage services. Online Research Most consumers have access to the internet; as a result McBride Financial will conduct online surveys to reach a broad focus group. “Online...
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...McBride Marketing Paper McBride Financial Services Marketing Plan Developing a market plan for McBride Financial Services is the purpose of this whole paper. This paper will include the type of market research McBride should do in order to get the best outcome in its marketing. The different types of media McBride should include in its marketing plan. The paper will also cover what target marketing they should use and also it will explain the reason why we chosen them as targets. It will also cover what was the thought process behind McBride to use the internet for some of their marketing. Marketing Research Marketing research is something that is used to determine how a service or product the public will accept with in the different statical data relating to the population and particular groups within it. A company may use the data collected to make sure that their service or product is targeting or will target the right audience. There are different types of market research that the McBride company can use in their marketing plan. I will start with the online market research that will have internet surveys and some online focus groups Online research is very easy for the public everywhere to participate in from their house taking away the need for them to go anywhere to participate. Internet surveys are easier to keep track of and make sure that the person fills them out correctly. This process also helps prevent any of the...
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...McBride Marketing Paper Nicholas Fletcher BSA/310 01/24/2014 Jessie Nightingale McBride Marketing Paper After studying the company McBride financial services it is evident there’s a lot of marketing that can be done and tools used that will increase the company’s visual presence and in turn increase mcBride’s customers database. Let’s first look at the facts and position that the company is currently in. Who is McBride? They are a regional mortgage lending company that specializes in conventional FHA and VA loans for new homeowners purchasing and homeowners that want to refinance there homes. The headquarters is conveniently located in Boise Idaho. One of their goals is to expand their operations to Wyoming, Montana, North Dakota and South Dakota. McBride’s target markets are as follows: Families and/or individuals purchasing recreational properties. Professionals that are either purchasing a primary or secondary residents. Retirees that are purchasing a primary or secondary residence. While targeting these markets McBride’s business philosophy is “ Our customers will receive the most efficient and effective processing of mortgage application form from inception to close.” McBride is a very aggressive company seeking to break even financially within six months of being in operation this is key because they want to become profitable within a year of operating. McBride also has a goal of establishing themselves in five different states. Although these goals...
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...McBride Marketing Paper BSA/310 Jessie Nightingale McBride Marketing Paper After studying the business McBride financial services, it is evident there's a lot of marketing that can be done and tools used that will increase the company's visual presence and in turn increase mcBride's customers database. Lets first look at the facts and position that the company is in currently. Who is McBride? They are a regional mortgage lending company that specializes in conventional FHA and VA loans for new homeowners buying and homeowners that want to refinance their homes. The headquarters is conveniently located in Boise Idaho. One of their goals is to expand their operations to Wyoming, Montana, North Dakota and South Dakota. McBride's target markets are as follows: 1. Families and/or individuals purchasing recreational properties. 2. Professionals that are either buying a primary or secondary residents. 3. Retirees that are buying a primary or secondary residence. While targeting these markets McBride's business philosophy is, " Our customers will receive the most efficient and effective processing of mortgage application form from inception to close." McBride is a very aggressive business seeking to break even financially within six months of being in operation this is key because they want to become profitable within a year of operating. McBride also has a goal of establishing themselves in five different states. Although these goals are aggressive they can...
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...McBride Financial Marketing Campaign Author BSA/310 April 22, 2013 Teacher McBride Financial Marketing Campaign Marketing can be a daunting task and can be a worrisome endeavor as the success or failure of the effort will not be realized until after it has begun, and you have spent the money on it. It is extremely important that research is done to ensure that the efforts of the marketing campaign are a success. Initially McBride Financial is going to have to make some decisions on their target market. The McBride website states that their target market is: * Professionals purchasing either a primary or secondary residence. * Retirees purchasing a primary or secondary residence. * Families and/or individuals purchasing recreational properties. While this has segmented the market somewhat, only one of these should be targeted initially. Unless McBride wants to fund three simultaneous campaigns one of these should be picked and thoroughly researched. Once they have decided on one to segment the market, they then have to target that audience, and that is going to take some research. We have to ask a few questions. What are their needs in regards to financing? We need to find out what exactly they are looking for in a mortgage and how we can give it to them. If we are talking about professionals looking for a primary residence then do they want to have a home office, are there some tax breaks or special financing we can offer that could be attractive...
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...McBride Financial Marketing Plan University of Phoenix McBride Financial Marketing Plan McBride Financial Services is a mortgage lender that specializes in conventional, FHA, and VA loans for home purchasing and refinancing. The company is presently headquartered in Boise, Idaho and is looking to expand its operations into Wyoming, Montana, North Dakota and South Dakota. McBride Financial Services current mission is to 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. With the implementation of a successful marketing plan, these future goals of McBride Financial Services to expand and become a preeminent provider of low cost mortgage services should easily become easily attainable. Naturally, the first step in the marking plan would be to research. The primary interest of McBride Financial Services is to establish a new market of people in need of assistance with financial services. In order to achieve this, McBride Financial Services will need to perform research on the areas current market trends and market values. This information will provide a better understanding of what products to market and how to market the products. The company will also need to look at current internal marketing plans in place to determine strengths and weaknesses, so that a better picture is made as to what areas to improve. This research will also help determine...
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...McBride Marketing Paper BSA/310 April 14, 2014 McBride Marketing Paper The marketing of an organization and that marketing’s success plays an integral role in the overall success of the organization. Marketing involves all of the business functions that support the customer value exchange including your advertising, branding, public relations, market research, corporate promotion, image management, and customer loyalty to brands and products. It’s everything your business does to acquire customers and maintain a positive relationship with them. Ultimately, the purpose and goal of your marketing is to match your services to the people who need and want them, thus ensuring your profitability. Now that you’re clear on all that marketing entails, let’s understand why it should be an important aspect of your business. The key piece of marketing’s overall goal is that it helps ensure your organization’s profitability. As business professionals, I’m sure I don’t need to explain this in much detail; without profitability an organization and its operations are not sustainable. We put those pieces together and we understand that big picture, a lack in marketing could result in the closure of your precious company. McBride Financial no doubt understands the importance of marketing, you’ve after all expressed a desire to expand your customer base and wish to do so through marketing. If McBride takes the right approach to marketing, you can absolutely expand your customer base...
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...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. Market Research 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...
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...McBride Marketing Paper Robert Greenleaf BSA/310 November 1, 2012 GARY TEED Marketing is an essential tool to the success and implementation of any marketing plan or strategy. Businesses rely heavily on the targeting the right customers desiring specific needs. There are many considerations to analyze when approaching the development of a successful marketing strategy. Marketing is defined as “the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return” (Armstrong & Kotler, 2011, p. 5). Today’s business environment is constantly evolving and reshaping; consequently, business organizations must cater their marketing strategies to the global, digital fast paced business world that we live and operate in. Businesses must consider market research, media requirements, target markets, and other considerations in order to have a successful marketing strategy. According to Armstrong and Kotler (2011), “By creating value for consumers, they in turn capture value from consumers in the form of sales, profits, and long-term customer equity” (p. 5). McBride currently has a marketing strategy that would be considered to outdated or ancient compared to today’s digital, mobile, and internet related businesses. The following issues will discuss intricate avenues of approach to design a compelling, competitive, trend-setting strategy that...
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