Source cic news the image depicts canadas immigration

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(Source: CIC News) The image depicts Canada’s immigration plan from 2021 to 2023. The country is planning to invite four million applicants, which will create an opportunity for mortgage companies to grow their business. Company Analysis Because MBM is a recently established firm, there is no precise data available. However, the company is currently on track to complete its quarter, which is required to assess its present
5 market position. Therefore, we are using the SWOT analysis to understand the current market position of the company. SWOT Analysis Strengths 200+ lenders on board Digital platform Free consultation 98 % success rate Experience in setting up a nationwide mortgage brokerage firm in Canada. Weaknesses New to the market. Dependency on the interest rates offered by lenders. Many lenders use their market channel to offer rates that are lower than those provided by banks. A small but thriving clientele (100+) Opportunities As a result of the influx of newcomers to Canada, demand is increasing. Realtors in need of a great broker to help them finance their sales and advertise their properties. Fees for brokerage $0 brokerage charge Threats Lenders buy brokerage channels and run them separately. High competition. Marketing Objective 1) The primary objective of this marketing plan is to enhance brand visibility to captivate maximum clients.
6 2) The primary purpose of using LinkedIn is to target high profile or working-class millennials having high spending capacity. 3) Instagram will serve the purpose of increasing brand awareness and build a reputation in the market. Almost one billion millennials are using Instagram (Neil Patel, 2020), so it will be easier to target. 4) Financial influencers will create content and use Facebook for making the content public, specifically to millennials, as Facebook covers the largest segment of the millennial population. Marketing Strategy a) Stage of the product life cycle MBM is still in its early stages, and its target audience is millennials. The strategies that must be used will be more focused on digital platforms such as Facebook, Instagram, LinkedIn, and other social media platforms. The audience wants to access information as quickly as possible. Advertisers can utilize these hyper-targeting solutions to get their adverts in front of their most important prospects. According to the report, 84 % of millennials do not believe in traditional marketing methods such as television, advertisements, and billboards. As a result, social media platforms hold the most market share. b) Segmentation
7 c) Positioning and Differentiation Our service is internet-based. Our differentiators are – Best rate and terms and a better experience guaranteed. Marketing Program a) Product Strategy It is a service-based business. Our solution stands out from the competition because it provides immediate mortgage quotes in under five minutes, guarantees the lowest rate (there are no fees to employ a broker in Canada), and eliminates unnecessary mortgage charges. We'll utilize the Fighter Brand strategy, which involves a

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