Trucking

McBride is a very young company based out of Boise, Idaho. McBride is a low cost mortgage services for their customers using new technology while expanding their business into Wyoming, Montana, North Dakota, and South Dakota. With Boise’s economy doing better than expected, more people are looking into buying new or older homes for the first time buyer, people who are looking for secondary homes, retiring homes, and even vacation homes is what McBride does best. Boise’s job market should see a huge increase of 3.6 in the next year in which is better than most cities in America. McBride specializes in conventional, FHA, and VA home loans, and has a financial budget of $50,000 for new efforts and $5,000 a month for other expenses for the company’s needs. Once the customer has been approved McBride will offer a copy of your credit report, home inspection, appraisal, and a Mortgage at the lowest rate available for a fixed price of $1,500.00. The company will arrange for the appraisal and inspection of the property by local licensed professionals and there will be a minimal elapse of time from application to closing (University of Phoenix, 2004). McBride marketing plan will take McBride Financial Services into the future and expand them to their goals. McBride shows several ways they advertise their company using local television, newspaper, are some of the ways they reach out to customers, and market their business. Using word of mouth is one of the best ways for any business to make a profit. Internet is vastly growing, and is becoming the best way for business to get customers. One of the best ways to get new customers is by word of mouth from Realtor referrals. The market research shows McBride is highly competitive in the mortgage lending market. McBride can have customers come see an agent or apply for a mortgage online. McBride can advertise on the internet especially Facebook, or create a Web page, and McBride will see an increase in customers, and profit. The internet has become the number one reference to customers, and the website will be McBride first impression to new upcoming customers. To have a professional and a very informative web site will help any business. To help any business you have now what your competitors are doing, what they are offering, and keep your prices lower than theirs to attract customers. They have eight offices and each office has a licensed broker that will have access to the Website at the office or away from the office to better to serve the customer needs (UoP2004). McBride would like to see a profit in the first year, and to break even in the first six months by equal spending, and a new income program. McBride wants to provide the best customer relation by reducing the cost and helping to improve the mortgage applications making it easier for customers to fill out, and process. It would be very beneficial for McBride to understand how the financial market works, and with this understanding McBride can build a better customer database, and also to help build customer databse is to create a highly functioning research plan. To help with McBride creditability their providing accurate information, this helps customers make informed decisions about their future. Because McBride has several locations they will need to know about job markets, unemployment rate, and housing market so they can determine how their business will do financially, and meet the expectations of the customers. Middle to lower class individuals would rather own than rent to make somebody else rich, and are looking for more of a conventional loans. What other programs McBride has to offer is refinancing, and letting clients take money on their equity, or let them keep their equity in the mortgage. What market research would you undertake' Layout ***** the territories, differences ********** the West and the Midwest ***** be researched. In terms of segmenting, given that some of the loans will be Federal Housing Association (FHA) and Veteran's Administration (VA) loans, the likely needs of *****se particular *****s will be those of middle to lower-middle class individuals buying or refinancing homes f***** non-commercial reasons—i.e. to live in rather than rent the *****. Also, the use ***** a virtu*****l mortgage company in general, beca***** of its lesser cost of overhead, reduces ***** charges *****volved in the process of opening, setting up, ***** closing a de*****l. People likely ***** seek out such companies have savings on *****ir mind, even people seeking conventional loans. Some research questions might be: what is the typical profile of ********** in the area seeking ***** loans' Where are ***** seeking these loans, in ***** *****as, and for what type of houses' For customers ***** to refinance, why do they ***** such a need ***** do so' ***** the wake ***** the current economic *****wnturn it is ***** such a ***** *****rises ***** financial difficulties, ***** than a desire to improve their current residence. However, the specific economic climate of the ********** states ***** the real estate market in those states must ***** taken into consideration. To establish the answers to ***** questions, a series ***** different techniques could be deployed by McBride ***** Services. An independent market research firm familiar w*****h the area ***** be the best way to accumulate data, combined with questionnaires of prospective borrowers. Accumulating data on currently existing lending banks and by talking to local *****tors about regional ***** characteristics is another option. Al*****, government or academic ***** of the likely demographic apt to use ***** and VA loans in the *****, as well ***** borrow*****g patterns as a *****ole for such loans might be a v*****luable, if it ***** available. Wider demographic data should also be solic*****ed, collected, and compared, especially in the ***** with which the Idaho-b*****ed company is least *****. The number of children of prospective homeowners seeking *****s, their desire to spend a long time in the area, ***** even level of Internet savvy will all *****fluence ***** ***** these services should be presented in the subsequent advert**********g and ***** types ***** media selected. Also, the target ********** response to current economic news should be assessed. The likelihood or repayment amongst specific gro*****s cannot ***** ignored, either, given the ***** credit crisis, which was spawned by banks making loans to individuals ***** a poor history of repayment ("subprime" loans). The wide publicity given to ***** ***** loan debacle, the bursting ***** ***** real ***** market bubble, and concerns about the current state of ***** economy are all important