Business Plan For "My Story House":An Innovative Audio Product Based On WeChat

With the rise in popularity of the internet, the mobile internet market is evolving rapidly, which triggers the development of various new media such as WeChat, APP, Micro-Platform, and Micro official site. Such new media not only improves the end-user experience, but also provides a platform for new content creation and more opportunities for entrepreneurs. Among the business ventures in the mobile internet market, early education is widely considered a hot area.This report proposes a mobile-based audiobook platform that targets three to six years old children. It aims to foster brand loyalty in the early stage and then employ business models and activities such as online 2 offline model, collective buying, and interactive marketing. Based on an in-depth analysis of the market environment, the marketing strategy, and the competitive strategy, the feasibility of the project is discussed. In addition, the project is expected to be sustainable and scalable due to the consideration of the market forecasting.First, this report investigates the development of mobile internet and the current state of multimedia and audiobook platforms in the domestic market. The macro environment and market competition are also analysed. It is found that the competition is fierce, although the mobile internet is a relatively new market. Therefore, based on her previous experiences in the media industry the author develops the business idea of "My Story House", that is, to broadcast audiobooks through mobile internet.Second, this report provides a Porter's Five Forces analysis of the competition within the studied industry; uses the STP model to identify the target customers; establishes the marketing objectives through a thorough analysis of user demand, product branding, and functionality; and develops the corresponding marketing strategy based on the result of a marketing mix analysis.Third, this report pays particular attention to the customers of the proposed project. It provides a detailed analysis of the customer demand, the customer characteristics, the market potential, and the customer adoption process. The project considers social responsibility, customer churn, service credibility, crowd funding, during the strategy development. Based on the analysis of the customer demand and the platform potential, this report discusses the possible future directions of the project in addition to the short-term goals. In order words, short-term risks and long-term scalability are both considered.Last but not least, the competitive strategy and marketing strategy are both analysed. More specific, the competitive strategy is developed on the basis of the analytical result of industrial competition, and the marketing strategy is proposed under the consideration of those fundamentalmarketing principles. The report discusses the risks in the development and operation stage of the project. The market forecasting is also provided.