Marketing plan for McBride Financial Services Introduction McBride by xiuliliaofz

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									Marketing plan for McBride Financial Services

Introduction

McBride Financial is one of the exceptional vendors of the mortgage with low interest rate by the
state of art technology. They are focusing on their current business by entering in the five states
Idaho, Montana, Wyoming, North Dakota and South Dakota. McBride is trying to sustain their
standard in the FHA, VA and conservative loans for refinancing and buying homes. Moreover, in
the first year of operations the firm needs to be rewarding and also plans to accomplish financial
break even within the six months of commencing. McBride decided to make available high
customers’ satisfaction, reduce the cost and expand the work performance. Now to achieve these
goals, firm needs to concentrate to provide entire, effective and efficient mortgage services to
increase their goodwill in the market. In this paper we explain the marketing plan that company
needed, will identify the market research, types of media and target market for the McBride
Company.


Market Research would undertake
McBride will consider different ways and techniques to attract customers which are the good
way to know the needs and expectations of the customers. “This is a challenge for the McBride
financial services to recognize the culture of the market but this helps the firm to expand a
customer portfolio and database of the clients” (Sagor, 2005). The best marketing research is the
descriptive research for the firm due to the decline of operating expenses and time to reach at the
target market.

“The major motive of using descriptive research is to evaluate the possible of the selected market
for the mortgage services of the company and examine the attitude of the customers” (DJS
research Ltd., n.d.). As the name implies, descriptive research seeks to explain something.
Descriptive research is highly structured and rigid in its approach to data compilation compared
to exploratory research’s unstructured and flexible approach. This research method will help
McBride to establish future market and possibility of the growth and profitability. It can also
enable the firm to avoid making errors and build competitive advantage over the competitors.

To analyze customers’ interest in mortgage deals and offers, McBride conducts a survey
analysis. This research will help the company to be attentive of the customers’ preferences and
its recognition among the target group. With the help of market research McBride financial
services can aim their customer’s segment that has great level to get the mortgage services.


Types of Media would be used
Media is the successful option for the firm to raise recognition of their products and services
among consumers. Media is the best way of marketing of services and products to get publicity.
“Media will help firm to create a competitive advantage over the competitors” (DJS research
Ltd., n.d.). International market can be responsive of their products and services by using both
online and offline media sources, for instance, use of television that can be used to promote
McBride services and products to their consumers. While on the other hand the offline media
source like newspaper, magazines, radio and pamphlets can be helpful in promoting their
products or services. In addition, the firm can also build up advertising campaign, trade shows
and public seminars. McBride can get acknowledgment through online marketing tools through
internet access and World Wide Web that can aid their customers beyond the national
boundaries. They can expose their products all over the world and raise their profitability.

McBride's Target Market(s)

The firm should focus on its target markets like individuals and families who are eligible to get
mortgage loans. The target market should be businessman, retirees, builders, first-time home
buyers and whoever wants mortgage on low interest rates. Attracting selected target market will
help the company to match the criteria and requirements of the loans.

Consideration of McBride for the Web Marketing

Online marketing will help McBride to generate liability in the customers’ eyes. McBride has
clarity in its services therefore customers will be attracted because of the assurance to get
services in their favor.

“ The customer also compares the services and prices of the company with the additional firms,
which create a feeling of satisfaction that they are not going to cheat by the company” (Sagor,
2005). McBride is one of the web based business and can exhibit its services and products on
their website ad can attract customers. They can also have contract with Google and Yahoo to
bring their website on the first page of search engine. “The online marketing strategy is quite
less expensive and very helpful to reach at the wide customer database” (Sagor, 2005).

Conclusion

The best way to attract customers with positive impact is to research the present market.
“Descriptive research helps the McBride to gain a better grasp about an issue of problem we
know little about” (…).
By using effective media tools, internet, or web based marketing. Advertising is the best way to
promote products and services of the firm. This way the firm can easily target individuals,
families, and other persons who can fulfill the criteria to take mortgage.
References
Sagor, R. (2005), The action research guidebook. Retrieved from google books.

DJS Research Ltd. (n.d.), Descriptive Research. Retrieved from
http://www.marketresearchworld.net/index.php?option=com_content&task=view&id=800&Item
id=64

								
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