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Forum Credit Union: Implementing a First-Time Home Buyer Program

Daniel H. McQuiston
November 1, 2018
North America
Strategy & General Management, Accounting & Finance
13 pages
promotional strategy, Positioning, financial services, mortgage, loan
Student Price: 
$4.00 (€3.75)
Average rating: 

Andy Mattingly, Chief Operating Officer of the FORUM Credit Union, has been tasked with the responsibility of developing a program to attract more First-Time Homebuyers (FTHB) to choose FORUM as the lending institution for their mortgage loan. FORUM is ‘behind the curve’ in offering such a program, and many other financial institutions have established one. Andy has at his disposal a fair amount of research on who their potential target markets might be as well as how some if these target markets go about choosing a mortgage lender. Andy much answer such questions as: Who would be our primary target audience(s)? How do they go about choosing a mortgage lender? Who is our main competition? How can we position ourselves against that competition to establish a competitive advantage? What tools of the marketing mix should we use to create that advantage?

Learning Outcomes: 
  • Examine the process a service-oriented firm undertakes to develop a new product.
  • Study the factors that firm must consider in determining a positioning strategy for that product in the appropriate market place.
  • Understand the nuances of positioning a product for the millennial segment.
  • Examine the role that educating potential customers plays when marketing a new product.
  • Study the potential promotional strategies to appeal to millennials