McBride Marketing Plan
McBride Marketing Plan
McBride Financial Services’ mission involves using state-of-the-art technology to become the preeminent provider of low cost mortgages in Idaho, Montana, Wyoming, and North and South Dakota. McBride’s goals include achieving financial break-even within six months of beginning operations, becoming a profitable company within one year of operating, and leveraging technology to minimize costs while maximizing efficiencies for customers and the business in applying for and obtaining mortgage appraisals, credit reports, and inspections (University of Phoenix, 2012).
To achieve its goals, McBride must use a focused, integrated marketing plan and an efficient, easy to use, up-scale and friendly physical and virtual environment (University of Phoenix, 2012).
Marketing research will assist McBride with its market offerings; a combination of products, services, information, or experiences that ensure customer value, satisfaction, exchanges, relationships, and customer equity, loyalty, and retention. Furthermore, conducting marketing research will also help McBride learn about and understand customer wants, requirements, and needs; thereby expanding McBride’s customer base by attracting new customers and keeping and growing current customers (Armstrong & Kotler, 2011).
McBride will use local television, radio, newspapers and magazine ads, and informational handouts provided by realtors as their media sources. However, these can be quite expensive and not always effective. Therefore, the Internet will be the primary media source; ensuring McBride’s web presence; essential for today’s businesses. These various media will assist McBride in reaching its target markets; professionals or retirees purchasing either a primary or secondary residence and families or individuals purchasing recreational properties.
The target audience will help dictate the most effective media used to ensure McBride reaches and grabs the correct audience’s attention. Mail questionnaires and telephone and personal focus group interviewing will be the media McBride primarily uses for retirees who may not be technologically savvy. Some of these methods are flexible and cost effective.
McBride will also use quantitative online marketing research which is well suited for the Internet and involves conducting