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Marketing Mcbride Essay

629 words - 3 pages

Marketing Plan - McBride Financial Services
INTRODUCTION
A new start-up organization named McBride Financial Services is a mortgage lending company based in Boise, Idaho. The organization specializes in a number of types of loans used for purchasing and refinancing homes. McBride Financial Services intends on serving communities with loans in five states, namely Idaho, Montana, Wyoming, North Dakota, and South Dakota. In order to target their regional market, the organization has budgeted $50,000 for initial promotions, and a subsequent $5,000 per month to continue supporting their marketing efforts. The current marketing strategy uses several avenues to promote the business, including ...view middle of the document...

Using regional data from their customers on social media sites would allow the organization to determine where their local advertising would be more effective, saving the company a substantial amount of revenue (since their TV and radio campaigns would be more effective as a result). The use of social media would also allow the organization to determine which loans are more desirable by their target market. Furthermore, surveys on which loans would be more desirable in their markets could be taken using Facebook and Twitter. According to Armstrong (2011), “Many sellers make the mistake of paying more attention to the specific products they offer than to the benefits and experiences produced by these products. These sellers suffer from marketing myopia. They are so taken with their products that they focus only on existing wants and lose sight of underlying customer needs.” (p. 7) McBride would benefit from knowing what their customers need instead of focusing on what they would prefer to offer their customers, resulting in a...

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