Mcbride_Marketing

CBRIDE MARKETING 1 McBride Marketing Paper BSA/310 Dana Shaw 03/04/2010 Michele Petrone MCBRIDE MARKETING 2 Abstract McBride Financial Services has a stated goal of becoming the leader in providing low cost mortgages. McBride has several locations in Idaho, Montana, Wyoming, North Dakota and South Dakota (McBride, 2005) and provides credit reports, inspection, mortgages and appraisals. Immediate company goals are to break even within a six month period and realize profit within one year of operation. To be successful in this venture, McBride will need to have a focused marketing plan in place, as well as an efficient website for the processing of mortgage applications. MCBRIDE MARKETING 3 Market Research Research must be done to determine consumer wants and needs so that the marketing program can be tailored toward meeting those needs. By conducting research, McBride Financial Services will demonstrate its interest in customer satisfaction and have a better chance of reaching a targeted demographic. “Customer insights and market assessments are the key to making smarter business decisions and gaining that critical, competitive edge” (Survey Monkey, 2010) which will be necessary for McBride’s success. Research could take the form of surveys which would be in person, online or by telephone. Feedback from the surveys will give a fair indication of customer attitude toward the company and will allow McBride to see if their goals are being met. Target Audience The marketing plan will focus on McBride’s target audience which includes primarily families or individuals looking for a recreational property, professionals or retirees who are purchasing a primary or secondary home. If McBride maintains its business philosophy of providing their customers with “the most efficient and effective processing of mortgage applications from inception to closing” (McBride, 2005) this will allow them to maintain these demographic groups as clients, and to grow financially as satisfied customers spread the word. MCBRIDE MARKETING 4 Considerations for Media and Internet Marketing The marketing plan will continue to utilize local newspapers, radio and television ads as well as handouts at tourist attractions and airports. A user-friendly website will be invaluable in helping potential customers to become familiar with McBride’s services and will reach a larger number of people. The new marketing mix known as SIVA (solution, information, value and access) is customer-centric and supports the marketing concept of identifying customers’ needs and fulfilling them, while realizing a profit for the company. The initial promotional budget for this plan has been budgeted $5,000 a month to be adjusted based on the needs and results of the marketing plan. Conclusion McBride can be successful in achieving their goals and maintaining their business philosophy if they utilize the customer-centric approach to the implementation of their marketing plan. Expansion of the business will be inevitable and the financial benefits to the company will be realized. MCBRIDE MARKETING 5 References 1. MCBRIDE FINANCIAL SERVICES. (2005). General Company Descrption. Retrieved from https://ecampus.phoenix.edu/secure/aapd/cist/vop/Business/McBride/Admin/McBrideAdmin001.htm 2. SURVEY MONKEY. (2010). Survey Monkey. Retrieved from http://www.surveymonkey.com/examples/marketresearchsurveys.aspx'cmpid=us:ps:google&gclid=CMTg2froqqACFRgsawodrn1TVA 3. DADEN LIMITED. (2008). Daden Limited. Retrieved from http://www.daden.co.uk/models/siva_marketing_model.html