McBride Financial Services BLANK BSA/310 October 22, 2012 BLANK McBride Financial Services McBride Financial Services wants to expand its customer base and needs ideas on what to put in its new marketing effort toward this goal. The company will conduct a market research to achieve its goals. The marketing and promotion will be done through the television, radio, newspapers, and internet. By hitting the target audience with the marketing strategy McBride Financial Services will be successful in expanding its customer base. To gather market research, the section will include social and opinion research, and the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making (ICC/ESOMAR, 2008). The company is looking for candidates that are more likely to get approved for a mortgage. Mc Bride is targeting professionals purchasing either a primary or secondary residence, also candidates who are retirees purchasing a primary or secondary residence, and people who want to purchase recreational properties. * To expand the customer base and needs, different types of media will be used. Local TV ads will be place on different stations to target the key audience. The ads will explain the new approach of the company and pursue the audience to solicit our services. The target audience watches TV mostly in the evenings, so the company must make sure the ads are presented at the right time. Another media that is proposed to use is local newspapers. Local newspapers provide physical advertisement. Newspapers are still a very popular advertising medium for most local businesses.
They are one of the oldest forms of media and although they do not enjoy being the most exclusive form of media any longer, they still remain a strong factor. They permit the advertiser to reach a specific amount of people on a desired geographical area (Brassil, 2012). Local radio is another way of promotion the company must use. Ninety-four percent of people over the age of 12 listen to the radio. Radio is mobile meaning that 80 percent of adults listen to radio in their car and a quarter of them listen to it at work (Gordon, 2007).
The company must make sure it advertises at the correct stations, at the right time, and the right show where the target audience is listening. The use of local realtors will be use as promotion as well. The realtors that work hand in hand with the company will be given special offers to engage with the customers and complete the businesses. * Electronic commerce will be used as means of marketing. According to Turban and Volonino (2011) “electronic business (e-business) is business that uses the Internet and online networks as the channel to consumers, supply chain partners, employees, and so on” (p. 57). McBride will market over the internet. The big growth of social networking has opened a great window for promotion. The company will use this to promote its services. Social pages like Facebook and Twitter will be the main conductors of advertisement. With Facebook adds the company can connect with over 1 billion people. The company can create a profile and set a logo. Create posts and communicate with the audience. Create multiple ads. It can also target the audience it wants to connect to. Ask questions, share exclusive news and, respond to people.
When people interact with the company’s page, their friends can see it, and comment as well (Facebook, 2012). By using different media marketing strategies McBride Financial Services will expand its customer base. In the previous, the ideas on what to do for the new marketing efforts towards the company’s goal have been discussed. The company will conduct a market research to achieve its goals. The marketing and promotion will be done through the television, radio, newspapers, and internet. By targeting the audience with the new marketing strategy McBride Financial Services will be successful in expanding its customer base.
Reference Facebook, . (2012). Advertise on Facebook. Retrieved from https://www. facebook. com/advertising/how-it-works Gordon, K. (2007). 4 Keys to Radio Adverstising. Retrieved from http://www. entrepreneur. com/article/177002 ICC/ESOMAR (2008), International Code on Market and Social Research. ICC/ESOMAR Amsterdam, the Netherlands, 4th ed. http://www. esomar. org/uploads/pdf/professional-standards/ICCESOMAR_Code_English_. pdf Turban, E. , & Volonino, L. (2011). Technology for Management - Improving Strategic and Operational Performance (8th ed. ). Hoboken, New Jersey: John Wiley & Sons Inc.