Bsa 310 - McBride Marketing Research

McBride Marketing Research Paper

University of Phoenix

BSA/310

Abstract

In this paper I will be discussing a marketing plan for McBride Financial Services. I will discuss the different types of media that can be used advertise their business. I will also be discussing the possibility of doing some marketing on the internet, allowing them to reach their target markets.

History

McBride Financial Services is a start-up regional mortgage lender headquartered in Boise, Idaho. The firm will specialize in conventional, FHA, and VA loans for home purchasing and refinancing. The company intends to expand its operations into Wyoming, Montana, North Dakota and South Dakota. (McBride Financial Services, 2003).

What market research would you undertake?

McBride financial would benefit from using a combination of primary and secondary market research. Primary research is gathering the information directly from the source. Information can be collected in a number of ways:

Surveys

Interviews

Focus group sessions

Information can also be collected by just talking to the customers getting their feedback.

Primary research has its benefits and drawbacks:

It may be costly and time consuming taking the time to get individual information from your customers. The upside to this is you can tailor the information that you are trying to get to you specific needs or if they want to know something in particular.

I would also use a secondary research just to see what is already out there. It is always beneficial to look at other companies in your line of work to see what the competition has to offer. Seeing if your company can provide better services for what cost of those services. I would look at magazines, government publications and industry surveys. There are advantages and disadvantages to this also while it would be less costly and time consuming it is more of a generalized research on companies like yours and the information may not be updated regularly. (, 2006).

What types of media would be used?

The types of media that would benefit McBride Financial Services would be:

Place ads in the local newspaper, radio stations and on the local television channels.

Put informational handouts in high traffic areas and major tourist attractions.

Placing ads in the local realtor's offices would promote business