Marketing Plan for McBride Financial Services
McBride Financial services is a low-cost mortgage lender with plans for its headquarters in Boise, Idaho. McBride vision is to be the preeminent provider of low cost mortgage services. The company specialize in conventional, FHA, and VA home loans. McBride has future plans to expand the company into Wyoming, Montana, North Dakota and South Dakota. With a budget of $50,000 for the start up effort and $5,000 a month for ongoing expenses. We will take a look at McBride market plan in an effort to help the company reach its expansion goals.
McBride business goal are outlined as follows:
Achieve financial break-even within six months of commencing operations
Become a profitable company within one year of operating
Leverage technology to minimize costs and maximize efficiencies for customers and the business in applying for and obtaining mortgages
What type of marketing has McBride already established? Company documentation shows that several advertising methods are already being used. Local television advertising , newspaper and radio ads are some of the traditional marketing McBride has undertaken. Realtors referral are another method use by McBride which can be very effective, by placing the company in front of a more precise audience. Market research shows that any company looking to be competitive in the mortgage lending market must have a web footprint. A professionally designed and maintained website is essential to the success of the company. After analyzing the website for McBride this can be a significant low cost improvement the company can make. The worldwide web has become the first point of reference for most customers. The website can be McBride's introduction or first impression to their potential new customers. Have a more professional and informative website is very important. To secure a piece of the market McBride must take a look at what the major company in the industry are doing. Research...