McBride Financial Services' Marketing Plan

McBride Financial Services' Marketing Plan

Introduction

McBride Financial Service is striving to be the ultimate provider of low cost mortgage services. The headquarters for McBride are located in Boise, Idaho and they provide services for five states; Idaho, Montana, Wyoming, North Dakota, and South Dakota. McBride specialized in conventional, FHA, and VA loans for home purchasing and refinancing. Since McBride Financial Service is just starting out, the best plan would be to research the different types of customers they can reach and what those customers want and need. By offering the customer the solutions they need along with the information they need to make informed decisions, the company can generate value and provide access so the customer can experience the best solution for their needs. McBride needs to first understand the market and the customer. Then they need to understand the customer’s values and determine whether or not the company can create these values. When McBride has determined the wants, needs, and values of the customers, they will need to use their resources to fulfill these desires.

Goals

McBride Financial Services has three goals. First is to achieve financial break-even with the first six months of beginning operations. Second is to become a profitable company within one year of operating. The third goal is to use technology to minimize costs and increase efficiencies for customers and the business in applying for and obtaining mortgages.

Market Research

To have the marketing program tailored toward meeting the needs of the customers, research will need to be done to determine the consumer’s wants and needs. Market research will allow McBride Financial Services to show its interest in customer satisfaction and have a better chance of reaching a targeted demographic. “Customer insights and market assessments are the key to making smarter business decisions and gaining that critical, competitive edge.” (SurveyMonkey, 2010) The customer insights are critical for the success of McBride Financial Services. Research could be done by surveys which could be done in person, online, or via telephone. Feedback from these surveys will give a good indication of customer attitudes toward the company. These results will give McBride the opportunity to see if their goals are being met.

Target