Mcbride Marketing Paper Essays

Mcbride Marketing Paper Essays Mcbride Marketing Paper Essay Mcbride Marketing Paper Essay McBride Marketing Paper Jarvis Jenkins BSA/310 12-10-10 Mona Ristovv McBride Marketing Paper Introduction McBride Financial Service is a mortgage lender based out of Boise, Idaho. The goal of the company is to develop into most brilliant cost mortgage contributor by utilizing modern technology while keeping interest rates low. McBride always wishes to increase its current growth by expanding into five additional states Montana, North Dakota, Idaho, South Dakota and Wyoming. McBride will also strive toward improving the standard of the company with the traditional loans for purchasing and refinancing homes such as FHA and VA. The company has also plotted to actually make money with in its first year of business, they plan to achieve this by financially breaking even by the six month mark. Furthermore, McBride has also devised a plan that will reduce their cost as well as boost the work effectiveness to enhance practices at work and give excellent customer service. To assist in this matter, the company will depend upon the technology they will implement. Another plan the company has chosen to do is to provide helpful and useful assistance with mortgages from the commencement to termination to boost its good name in the market place. Discussion about Market Research Marketing research involves a course of action that calculates the methods and approaches that appeal to the consumers to use the goods and services of a company. It is an extremely helpful method to recognize what the customers expects and requires from a business. As like any other company it will more than likely be a test for McBride Financial Services to overcome to understand the traditions of the market, but with this understanding comes the ability to build a suitable customer database as well as clientele. It would be in McBride’s best interest to use a descriptive, research plan. By using this method of market research they can reduce the expense for operations as well as the time it takes to reach the portion of the market they are looking to target. One of the most important reasons for using the descriptive research plan is that you can assess the capability of the chosen market for the services rendered by the company and also examine the positions of the customers. By using this method of research it will allow McBride Financial Services to review its present sales and services, which would permit them to determine forthcoming market plans and the opportunity for growth. The descriptive marketing research will also assist McBride Financial Services because in using this process it is critical to also calculate the strategical approaches as well as the performance of the competitors. This will grant McBride the opportunity to stay away from future errors and build an economical advantage over their competitors. A survey analysis with existing customers could be performed by McBride to evaluate their interest with new offers and deals pertaining to mortgages, which would help them understand what there customers expect from them. This would require using the survey researcher method which would be beneficial because it will aid the company to become acquainted with customer’s preferences and the status of the company amongst the group that is being targeted. Thus, the market research would encourage McBride Financial Services to direct its focus on the customer’s who’s extent is great to gain the mortgage services offered and to calculate the opportunities in the market that are available to the company. Media Types that can be used Media sources are worthy outlets to generate consciousness among customers about the products and services that are offered. Following the market research, it is very important that McBride enhance the exposure of the company within the market. A mixture of media sources could help promote the services that the company is offering. By using the media, as well as advertising tactics in an effective manner it should help the company gain a reasonable advantage over their competition. By using online and offline media sources in cooperation, McBride can place advertising in both the local and international market. It would be to the advantage of the company to use television, as well as an electronic media source to advertise the services and conveniences that they are offering the customers. When it comes to offline media sources the company could use radio, newspapers, financial magazines, pamphlets, corporate magazines, etc. In addition McBride could use advertising campaigns in corporate fairs and events. Furthermore supplementary approaches and sources to be tapped could be public seminars, trade shows, or house shows. One of the biggest ways to get acknowledgment on the international level is through use of the internet and the World Wide Web. By implementing online marketing methods the company can reach out to customers that are beyond the native boundaries. McBride should also consider supplying grocery stores and shopping markets with brochures. By using all of these media tools the company can represent itself in an enhanced matter and leave a positive impression on customers. Target Market to be chose by McBrides McBride Financial Services’ primary focus should reside on families as well as persons who are qualified and that can clear the criteria to be awarded a mortgage loan. Additionally, the company can aim for retired individuals and other small business owners. Extra sources for the company to target would be first-time buyers, builders, or other realtors who wish to have a mortgage with low interest rate. These groups would be ideal for the improvement of the company. It should be rather easy for McBride to draw in these people, and they can effortlessly match the requirements and criteria for the loans. McBride’s Web Marketing Web marketing and advertising is another avenue that McBride Financial Services should consider traveling. By using web marketing and advertising the company can produce responsibility in the eyes of the consumer. Faith with the company and its services can be built because transparency about the services offered and the charges being assessed by the company are clearly stated. The customer would also be able to evaluate the prices and services offered by the company with their competition, which would generate a sensation of contentment that they will not be deceived by the company. Since McBride Financial Services function as a web based unit, they can exhibit their products and services on their website to drawn in more customers. The company could also have an agreement with online search engines, Google or Yahoo, to boost the reputation of the company. The online marketing method that will be implemented is fairly inexpensive and extremely helpful to reach out to a wider range of customers. The improved technology being used will give McBride the opportunity to persuade the opinion of customers and draw them into spend their money within the company. Conclusion As a result based on the discussion above it could be said that for McBride Financial Services to cause a definite impression within the market and bring in a large number of new customer, it is imperative that they research the target market that would produce the numbers they would like. By using the methods described earlier, survey and descriptive research methods, this will permit the company to recognize the views of the customers as well as the approval ratings current customers are giving them. References This is a hanging indent. To keep the hanging indent format, simply delete this line of text using the backspace key, and replace the information with your reference entry.