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Write a 3-5 page paper describing a marketing plan for McBride…

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Write a 3-5 page paper...
Write a 3-5 page paper describing a marketing plan for McBride Financial Services. In completing the assignment, consider the following:
o What market research would you undertake?
o What types of media would be used?
o What are McBride’s target markets?
o What are the considerations for McBride to conduct a portion of their marketing on the Internet?

Explain your reasoning for your responses.

This needs to be written in APA format.
Submitted: 8 years ago.Category: Writing Homework
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Answered in 1 day by:
7/8/2010
Writing Tutor: hman20,
 replied 8 years ago
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Hello. I can help. Is there any specific information you have on this that I need to know about? What is the due date?

Thanks!
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Customer reply replied 8 years ago
It is due on sunday. Do you need more information on McBride?
Customer reply replied 8 years ago
So, can you do it?
Writing Tutor: hman20,
 replied 8 years ago
Yes. Do you have any background info on McBride? Any prep work would help. Thanks.
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Customer reply replied 8 years ago
McBride Financial Services
<br>
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.

Mission

McBride Financial Services will be the preeminent provider of low cost mortgage services using state of the art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota




Our Mission:

McBride Financial Services will be the preeminent provider of low cost mortgage services using state-of-the-art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, South Dakota. We thank you in supporting our mission!

Business Philosophy:

Our customers will receive the most efficient and effective processing of mortgage applications from inception to closing.

Who We Serve:

Professionals purchasing either a primary or secondary residence.
Retirees purchasing a primary or secondary residence.
Families and/or individuals purchasing recreational properties.
What We Offer:

Upon approved credit, we will provide:

Credit Report
Home Inspection
Appraisal
A Mortgage at the lowest rate available
All at a fixed price of $1,500!





I. General Company Description



Mission Statement: McBride Financial Services will be the preeminent provider of low cost mortgage services using state of the art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota.



Company goals:

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.


Business philosophy: Our customers will receive the most efficient and effective processing of mortgage applications from inception to closing.



Target market:

Professionals purchasing either a primary or secondary residence.
Retirees purchasing a primary or secondary residence.
Families and/or individuals purchasing recreational properties.


Critical success factors:

An efficient, easy to use (front end and back end) Web site for the application and processing of mortgage applications.
An up scale and friendly physical and virtual environment.
Focused marketing.
Professional associate brokers located at carefully selected offices leased in the following cities:
Cheyenne & Jackson, Wyoming
Billings, Montana
Bismarck & Fargo, North Dakota
Rapid City & Sioux Falls, South Dakota
Boise, Idaho (Main Office)


Organization: Please see organization chart



II. Products and services

Product: Our product will be the most efficient and user friendly mortgage application process available obtained by leveraging technology (specifically the Web).



Service: We will provide (upon approved credit):

A credit report
Mortgage
Inspection
Appraisal
For a fixed price of $1,500 dollars.



Features for our customers:

A simplified mortgage application that can be completed Online or by visiting one of our regional brokers and have them assist in the Online Application process.


Benefits for our customers:

One price includes all primary services.
We will make arrangements for appraisal and inspection of the property by local licensed professionals.
Minimal elapsed time from application to closing.


III. Marketing Plan

Detailed Marketing Plan to follow.



Promotion:

Local TV ads
Local Newspapers
Informational handouts at airports and major tourist attractions
Local radio
Local realtors


Promotional Budget:

Start-up promotions have been budgeted at $50,000.
Continuing promotional expenses have been budgeted at $5,000 per month ... to be adjusted based upon operational results.


Twelve Month Sales Forecast: See Pro Forma Sales & Budget






Detail
   * Sales
   * Expenses
McBride Financial Services

Initial Operating Year Pro Forma
Summary

Month     Sales
Revenues     Expenses     Operating
Profit/(Loss)
1     $42,000     $84,692     ($42,692)
2     $42,000     $81,742     ($39,742)
3     $57,000     $81,992     ($24,992)
4     $57,000     $81,742     ($24,742)
5     $67,500      $76,992     ($9,492)
6     $67,500     $76,742     ($9,242)
7     $82,500     $76,742     $5,758
8     $82,500     $76,992     $5,508
9     $76,742     $84,692     $20,758
10     $97,500     $76,742     $20,758
11     $112,500     $76,992     $35,508
12     $112,500     $76,742     $35.758
Total     $918,000     $944,850     ($26,850)
Capital Budget: $200,000 has been budgeted for the construction of the B to C Web Site
Copyright 2004 © by Apollo Group





How long will it take to process my mortgage application?

In most cases, your mortgage application will processed within one business day.

^Top

     
When will my loan close?

Most loans can close within 10 - 14 days. Some loans may take longer to close if there are problems in exchanging required documents, obtaining necessary approvals, etc.

^Top

     
Can I apply for a loan beforeI have found the property?

Certainly! Being pre-approved for your mortgage will actually make the buying process easier since you will be able to identify the properties that you can afford to purchase.

^Top

     
What is an ARM?

ARM stands for "Adjustable Rate Mortgage." With an ARM, the interest rate that you pay will fluctuate over the life of the mortgage. The interest rate of the loan will be adjusted either up or down based upon changes to interest rates in the marketplace. Some ARMs will also define limits setting the minimum and maximum interest rate for the loan.

In contrast to the ARM is the Fixed-Rate mortgage. With a fixed-rate mortgage, the interest rate paid by the borrower will remain constant over the term of the loan regardless of changes in the interest rates in the marketplace.

^Top

     
What is a "lock-in"?

A "lock-in" is an agreement between the mortgage company and the applicant that the proposed loan's interest rate will not change during the time the loan application is pending. Interest rates are constantly changing. Since it can take days, weeks or even months before a loan is finalized and closed, there is a risk that an interest rate quoted when a mortgage application is first submitted, may not be available when the loan finally closes. To avoid this situation, the applicant and the mortgage broker can enter into a separate agreement in which it is agreed that the quoted interest rate will be "locked-in" for a certain length of time.

^Top
Writing Tutor: hman20,
 replied 8 years ago

What type or sources do you need? Can they be all from the Internet, or do you have other sources? This is important. Also, do you need an abstract?



Edited by Hugh on 7/10/2010 at 4:15 AM EST
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Writing Tutor: hman20,
 replied 8 years ago

Wasn't sure if you needed an abstract section for this paper. For the type of paper it is, I'm assuming you really don't need it. All sources are from the Internet and cited.

 

http://dl.dropbox.com/u/7964998/McBride%20Financial%20Services.docx

 

Let me know if you have any questions, or need any additional help.

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