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