McBride Financial Marketing Plan
Based out of Boise, Idaho, McBride Financial Services is a small mortgage lender that is in its beginning stages. The firm’s focus will be in standard, FHA, and VHA loans for home refinancing and purchasing. The company hopes to increase its offices into Wyoming, Montana, North Dakota, and South Dakota. “McBride Financial Services will be the preeminent provider of low cost mortgage services using state of the art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota.” (University of Phoenix, 2005, 2011, para. 2). McBride Financial Services has decided to redesign it’s marketing plan so they can reach individuals ...view middle of the document...
A final type of research that will take place is customer satisfaction research. Utilizing this type of research allows McBride Financial Services to understand how satisfied a customer is with the overall buying experience they have had. This will also show the business where improvements need to be made, as well as where their strong points are. Deeb (n.d.), "If your customers know you care enough to ask what they like and dislike about your company, you may have a high repeat business rate. Paying attention to their comments tells them that they're more than just a revenue stream to you.” (Customer Retention).
Marketing Media and Target Markets
Picking the appropriate type of advertising media to use is important to any business. The target consumers for McBride Financial Services are professionals, retirees, and families; therefore, it is imperative to choose the correct media that these audiences focus on. Professionals spend a good amount of time searching the Internet for research and business. Social media and Internet marketing would be a good choice for advertising to the professional audience. Retirees are less likely to go on the Internet as much as other focus groups, so they are more likely to read and trust newspaper advertisements. Families spend time on the Internet as well as in front of a television, so social media marketing, radio, and television advertising would be best suited for these individuals. There are various other methods of media marketing but newspaper, radio, social media, and Internet advertising will be the most effective for the McBride Financial Services business.
Social media has become popular over the years and families are keeping in touch with one another through various places. Professionals as well utilize social media to get updates or post things that they are looking for or are hiring for. Places like FaceBook, Twitter, LinkedIn, YouTube, Google+, and FourSquare are means of communication for families and professionals that are prime advertising for McBride Financial Services. Braime (2012), "Social media is an essential marketing tool. Not only can it expose your work to a world-wide audience, but it also gives you a chance to convert those audience members into paying clients.” (para. 1). The choice to move to social media advertising is an appropriate choice to connect with families and professionals to get word out about McBride Financial Services.
Radio and television advertisements focus on a wide variety of age groups. They break down the schedule to show shows at different times. The Prime Times are from 7PM to 9PM when families can watch a show together. They strategically place particular advertising to market to these individuals. Research must be done in order to determine which television and radio stations have the highest volume of listeners and viewers that fit this genre.
Newspaper advertisements focus on individuals that are around the retirement...