Marketing plan with target market analysis and SWOT assessment

Peace of Mind Mobile Service: Marketing Plan / Marketing Plan for Service Providing Organization Name

Describe the target market.

Identify the size of your potential target market

4 Is of Marketing

The cellphone service, Peace of Mind Mobile, is specifically designed for children. It includes features such as Internet safety measures and tracking capabilities, for parents to be worry-free when their kids use mobile phones.

Describe the target market.

The key target market for this service is parents, because of current emphasis placed by advertisers and sellers on customer brand loyalty. The advertising strategy of 'Peace of Mind Mobile' service inculcates in parents a feeling of security, appropriately influencing the niche market of the firm. Competent personnel skills and technology utilized by the firm also form a great means for targeting parents (Article Institutes, 2015).

Identify the size of your potential target market

Peace of Mind Mobile service has an immense potential market, comprising all parents. Individuals of the Baby Boomer era are now, typically, parents to college-going teenagers, or have little grandkids; this age group is now encountering parenthood needs, unique to the 21st century. Parents belonging to Gen X are normally drawn to services, which offer easy solutions to everyday issues, whereas Millennials -- the youngest of parents today --are more responsive to emotional advertisements and well-being-enhancing services. The mobile service, Peace of Mind Mobile, is capable of catering to all generations of parents by ensuring child security through leveraging of internet safeguard and tracking capabilities (Article Institutes, 2015)

SWOT analysis

Strengths

Design and Innovation

Ability to emotionally influence parents

Ability of marketing the brand

Internet Safeguard and Tracking capability

Trained, and competent employees available at all times of the day to offer help

Weakness

Profit margin is extremely low

Key rivals are the largest businesses

Training is expensive

Opportunities

Expanding cellphone services advertising sector

Increasing demand for high-quality app processors

Threats

Rapid advancements in technology

Falling service production margins

The above table proves that Peace of Mind Mobile has great assets in the form of design and innovation, capacity to emotionally affect parents, capacity for brand marketing, Internet Safeguard feature and tracking capability, as well as 24/7 customer service, and staffed with well-equipped, competent personnel. There are many opportunities for the company, emerging from the budding ad industry in mobile services, and increasing market demands for high-quality application processing chips; these will subsequently lead to increased demands for the firm's offering, and improve profitability. The company, however, needs to direct its key focus towards its weaknesses, and endeavor to increase profit margins. This can be done by drawing in more clients by means of satisfactory service. Additionally, the organization must closely watch any changing trends in technology, success patterns, and reasons for consumer brand switching for maintaining customer loyalty and making stable profits.

The 4Is of Marketing

The set of decisions a company must take prior to introducing a novel product or service into the market is known as marketing mix. There are four marketing mix elements, commonly called the '4 I's of marketing', which assist an organization with strategic decision-making, essential for smooth operation of the organization and its offering. In the services marketing context, these four characteristics (which separate services from products) are:

Intangibility

Inseparability

Inconsistency

Inventory

Intangibility

Intrinsically, services are intangible. Peace of Mind Mobile service's benefit in 'intangibility' terms is: the service develops a certain amount of trust among parents, as its features (internet safeguards and tracking capabilities) are desperately sought by parents in the present digital age. The company has faced trifling issues while delivering child security. Its Peace of Mind offering, accords clients a great sense of security. It minimizes their anxiety with regard to child cellphone usage and security. Therefore, in Peace of Mind service's marketing mix, one of its biggest assets is its service portfolio (Rivers, 2010).

Inseparability

On account of services' intangible nature, and key customer roles in Peace of Mind Mobile's consumption processor, the inanimate as well as animate service environment components will have a significant part to play in client satisfaction. In the services context, customers don't and can't separate the service from its provider. There is consistent service provider-customer interaction at the company, and it is given supreme prominence; the basis of interaction is effective service-provider- customer communication. Company staff is qualified to adequately demonstrate how the service works to customers, and is well-trained in appropriately assisting clients by resolving queries pertaining to track capabilities and internet safeguard (Rivers, 2010).

Inconsistency

The service company personnel as well as clients are human. Consequently, there is always the likelihood for existence of a chasm between the actual service and consumer expectations, a chasm which may be bridged completely, or at least partially, by getting a grasp of customer requirements in the current scenario. Standardization is guaranteed in the form of superior quality service delivery, owing to a fully-trained workforce, capable of dealing with all sorts of customer issues and queries round the clock (Rivers, 2010).