Mc Bride Marketing Plan Essay

965 words - 4 pages

McBride Financial Services Marketing PlanMcBride Financial ServicesMcBride Financial Services is a company that provides "low cost mortgage services using state-of-the-art technology" in the Midwest (Apollo, 2005).Product DescriptionMcBride provides many services to the homebuyer. They offer conventional, FHA and VA mortgages for purchasing and refinancing at the lowest possible rate. They also give the customer credit reports, home inspections, and an appraisal all for $1,500 (Apollo, 2005). By offering, a fixed price the customers are never mislead or confused about what they are going to pay. At other companies such as Countrywide Home Loans, the customer can expect the cost of the loan "amount to [be] about 3% of your sales price" (Countrywide Home Loans, 2007). In addition, they charge separately for the credit reports, home inspection, and appraisal. Most mortgage companies use the standard operating procedure of charging separately for all parts of the loan whereas McBride gives the customer a flat fee for everything. By only charging a flat rate for the mortgage loan the company will be able to bring in more customers who are tired of having to pay multiple fees for one loan.Market AnalysisMcBride Financial Services focuses on providing mortgages to individuals who are interested in purchasing a first or second home or refinancing their current mortgage. The company is focused on quality and using innovative technology to provide for the customer. The online services of the company provides the ability to start a loan at virtually any time the consumer would like to begin the loan process. "Due to the strengthening of the economy in [the Midwest] area, more homebuyers today are looking to purchase homes" (Morebusiness, 2007). Now that the customers are buying more homes, they need a mortgage company that will work for them.McBride will focus on the homebuyer, getting the customer the best loan and rate for his or her situation. The company will ensure that the brokers are well trained and knowledgeable in all aspects of the mortgage world.SWOT AnalysisMcBride's strengths include a unique pricing of the mortgage process across the Midwest. They also have the advantage of their online application software and online processing. Most companies still require the customer to come in and fill out the application by hand. Their ability to process most of the loans online or over the computer without any face time keeps McBride above the competition. However, on the other hand having most of their business conducted online can have a negative effect. Some of the consumers could be wary of the Internet and wish to still do everything by hand and face to face. These consumers could use the brokers in the individual offices but still not want to work with computers even when offered help. Another weakness for the company is there physical locations. Right now they only have five offices, so the availability of meeting brokers could also present a...

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