McBride Financial Marketing Plan Essay

McBride Financial is a fast growing organization with plans to open a total eight offices located in Idaho, Montana, Wyoming, South and North Dakota. Services will specialize in providing financial mortgage assistance to first time buyers, retirees, professionals, families and individuals with credit problems. McBride Financial provides customers with informative information without any hidden cost. Breakdown of services and rates are thoroughly explained with every home purchase. Applications are processed within one business day. Marketing Plan The development of McBride Financials marketing plan will require various forms of market research. The three major groups McBride will focus on will be first time buyers, buyers with credit problems, and retires purchasing primary or secondary homes. Market research will be conducted through the collection of surveys, contact methods, marketing intelligence and internal data. Advertising will consist of promotional television, radio, newspaper, and internet ads that appeal to specific marketing groups. Local realtors will be used for advertising purchases as well. Marketing strategies will be developed that establish McBride Financial as the leader in low cost mortgage services. Online Research Most consumers have access to the internet; as a result McBride Financial will conduct online surveys to reach a broad focus group. â€Å"Online research accounts for 8% of all spending on quantitative marketing research, and most industry insiders predict healthy growth† (Armstoring & Kotler, 2005). Cost associated with online research is minimal and will help McBride Financial meet budget demands. The use of online surveys will be implemented to gain a better perspective of consumer needs. Surveys will consist of 25 questions related to home purchasing and financial planning. Surveys will be forward to the marketing department for further analysis and plan development. Media Advertising McBride Financial currently has plans to air a radio ad which informs consumers of the company low cost special financing offers. McBride Financial has included a promotional pamphlet that will be available at airports, store newsstands and realty offices. In addition, an ad has been printed in newspapers nationwide. The development of McBride Financials television ad is currently in the works and will began broadcasting later this month. McBride Financial has joint-ventured with Realtor.com in order to reach our expanding consumer based. â€Å"Realtor.com is the largest real estate database of homes for sale and the official site of the National Association of Realtors; real estate listings, realtors, mortgage rates, home buying help and much more can be accessed through the website†. Financial calculators, investing tips, lender comparison, and many other services can be access through relator.com. Links to McBride Financial can be found under the mortgage lenders link. Internet Marketing Part of the McBride Financials advertising plan will focus on internet advertising through the company’s website. In order to expand marketing efforts, McBride Financial will develop and maintain an interactive website that provides consumers with information regarding the latest rate changes and tax breaks. Internet advertising makes use of banner ads, search engines, email adverting, and paid search terms. â€Å"Internet advertising involves bringing users to a web site or generating traffic; the web site itself may consist primarily of a simple presentation of information about a company, its products and services† (Magee, N.D.) Target Market McBride Financial will focus their lending services toward three major groups. All consumers are encouraged to use McBride Financial as a qualified mortgage lender. First Time Buyers Purchasing a new home can be overwhelming for many first time buyers. McBride Financial service will work closely with first time buyers to ensure customers receive the best available rates and the largest tax breaks. McBride Financial offers services to fit all first time buyer needs: Credit reports, appraisals, home inspections and easy approval can be complete by filling a simple application. Credit Problems McBride Financial offers specialized services for clients with credit problems. McBride Financial offers services for a fixed rate of $1500 dollars. Our rate is significantly lower than our competitors and accommodates consumers with less than perfect credit; preapproval is quick and easy. Retirees Purchasing the perfect vacation home can be made easy due to McBride Financials state of the art property search. Home buyers can quickly lock-in prime rates and feel assured their rates will not change. Advanced information systems ensures the security and privacy of all customers are highly maintained. Conclusion Providing consumers with competitive mortgage lending requires effective advertising and a strategic marketing plan. McBride will meet the demands of consumers by providing the lowest rates available for qualified borrowers. Retirees, first time buyers and clients with credit problems will benefit from McBride Financial services. Marketing strategies will be employed to allow consumers to apply line of credit. McBride will be the leader in lost cost mortgage services.