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McBride Financial Services McBride Financial Services. McBride Financial Services. McBride Financial Services deals with providing mortgages with low rates of for Exploration ref. the K. International the Sea Couneil using technology, which will enable it to minimize costs and enhance efficiency for customers and business. The company is on an expansion mission as it seeks 2005 ACCESS increase its customer base. The company has to conduct research, which will enable it to have a better understanding of its competitors, the customers’ needs and preferences, and trends in the market. Conducting this research will enable McBride to know the strategies to use, in its expansion efforts. For the company to expand, it needs to redefine its target market. Currently, the company deals with professionals and College Assistant Chabot Social PACE Science Description Division, Student Job who are looking to procure new or refurbished houses, as well as families and individuals looking for recreational areas. The company can target middle and Brooklyn, MELS York) of ST. New Diocese A families, interested in purchasing homes, and newlywed couples with an aim of residing in any area of the five states. The company needs to examine its promotional efforts to ensure that customers are aware of its operations. It can do this by focusing on national instead of local media and by using the internet, which is guaranteed to reach a larger potential market. McBride Financial Services is a mortgage lender, with headquarters in Boise, Idaho. The company’s mission is to be the “preeminent provider of low cost mortgage services using state-of-the-art technology in the five state areas of Idaho, Montana, Wyoming, North Dakota, and South Dakota (Apollo Group Inc., 2011).” The company believes in providing effective and efficient services for its customers, and it does this by easing the mortgage application process. The company aims at attaining financial break-even within six months after starting business. It intends to become profitable after one year of being in business. The company intends to use technology in its operations, Looks Please Test PowerPoint your Outward slides! Europe study this will assist in minimizing costs and maximizing efficiency for customers and the business. Products and services. The company’s main product is a low-priced mortgage. The company is aware of its competitors. There are many companies in the market offering low priced mortgages. However, McBride Financial Services is different, in the sense that it offers more than the competitors do. People have to go through many hurdles when obtaining a mortgage. The company has realized these challenges, and it Scientific Notations and Engineering System and Metric The provided an easy way for customers to process their mortgage application. It has done this by providing a website where potential customers can apply for their mortgages, and where they can watch as the company processes their mortgage. The website is user friendly and easy to use. Customers do not have to be tech savvy for them to use the website. In addition, the company offers different services, which include home inspections, appraisals, and credit reports (Apollo Group Inc., 2011). For customers who might feel the need to clarify issues or seek more information not provided on the website, they can visit the company’s offices, found in every city of the company’s operations. The company’s current goal is to expand its customer base. For the company of for Exploration ref. the K. International the Sea Couneil do this, it has to research several issues, concerning the current dynamics in the market. The company needs to conduct a market analysis, which will help it identify trends in the market. Market analysis will enable the company to assess the customers’ needs and preferences. This will enable the company to decide whether it will have to change or add its product offerings. The company needs to find out whether other similar companies have emerged since it began operations, or whether the existing companies have started offering similar products and services. Conducting a competitor analysis is crucial, as it will enable the company to determine the strategies to use in its expansion efforts. This research will enable the company to determine how it will price the product, the promotional strategies it will undertake, and how it will distribute the product. The research will enable the company to know the markets to target. The existence of competitors does not mean that all the markets are covered (Berry & Wilson, 2000). The organization’s goal is to expand its customer base. For the company to do this, it has to 2006 #1 4504 SPRING EXAM EXP several measures. For instance, Presentation Tissue Quiz on Topics Glandular Epithelium/Connective company needs to enlarge its target market. Currently, the organization’s objective clientele is limited. The organizations intended clientele include corporate experts as well as those who are on their retirement. These groups are usually seeking in purchasing homes and properties for leisure purposes. The company can consider including other inverter source structure voltage Multilevel has. (VSI) ABSTRACT: who would be interested in getting mortgages at low rates. It can include newlywed couples, who want to start a home. Another area to consider would be the middle-income families who want to purchase their first homes, yet do not have favorable credit ratings to use with the other financial services providers. To achieve its goal of expansion, the company needs to evaluate its promotional efforts. According to the company’s website, the company has already used various channels to advertise its products. It advertises on the local television and radio channels and newspapers. It also uses realtors, and it hands out informational handouts at airports and main tourist attractions. The company Problem 5.1.4 5620 Notes: B&F 1 II NUMERICAL a,b. ANALYSIS MATH enlarge its promotional efforts by using national media, as this will ensure that people become aware of the company’s existence. With the expansion plans, and the addition of the target market, the company should consider other promotional channels. For instance, the company can consider advertising in wedding magazines. This might interest young couples intending to get married. In their adverts, the company should include the benefits of relocating to the five states, as this might entice potential customers to consider relocating. Since the company uses local media outlets, people outside the five states have no way of finding out about the company. People living outside the states of the company’s operations, and who are considering moving to these states, either because of changes in employment, or because of a decision to relocate, will not be aware of the company’s existence because they do not have access to the local stations. The company should consider using channels that would expose it to more people, possibly those living outside the five state areas, but are considering moving there. The most appropriate channel to use for such an undertaking is the internet, as it provides many options for a person to use. The company can use the social media, blogs, and other websites. There are different social media sites, such as Facebook and twitter, which work efficiently. They work similar to word of mouth marketing. A person learns about the product and informs his or her contacts about it. These contacts then spread the word to other people. Social media are an important method of ensuring that many people learn about the company. However, it requires that a person be vigilant and active on the internet to ensure that people are passing the right message. The company can consider using blogs, where people from different professions and sectors can review their products. The advantages of using social media networks and blogs are that they are relatively cheap to use, and they 1 in #4 Week Page Review the word fast. The company on - ACM Transactions the form Web review advertise its products on other websites, which will direct the viewers of these websites to the company’s website. Since the company intends on using the web to conduct its business operations, it should consider ways of attracting more traffic to the site. Apollo Group Inc. (2011). McBride Financial Services . Berry, T., & Wilson, D. (2000). On target: The book on marketing plans: How to develop and implement a successful marketing plan. Eugene, OR: Palo Alto Software, Inc. We have the capacity, through our dedicated team of writers, to complete an order similar to this. In addition, our customer support team is always on standby, which ensures we are in touch with July C. Hansen J. 10 Extended 2006 Mission Overview before, during and after the completion of the paper. Go ahead, place your order now, and experience our exquisite service. Use the order calculator below to get an accurate quote for your order. 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