Discuss about the Business Plan is about an O2O service.
It is undeniable that modern people are becoming more and more “lazy”, this is due to the impact of the development of science and technology to the life, and people can save their time on the way, like the network shopping, food delivery. And under the wave, O2O model of service is one of the most popular model in recent years, it has been a lot of the O2O model management service platform, but most of them only operate a single kind of product, such as food or fruit, if a platform has the service of most areas, it will be a huge competitive. After all, the service purpose of O2O module is to save people’s time and bring convenience, and a comprehensive service platform can give full play to this purpose.
In this plan, this platform will provide 24-hour food delivery, online supermarket, dry cleaning and running errands transportation services, these services are based on students’ basic needs, more business will be along with the development of the platform. The most important thing for this platform is a strong transportation team, which can support so many businesses.
At the same time, the platform can have cooperation with other companies who provide single O2O service or traditional service, our company provide a platform, transportation, customer resources, while other companies provide products or services, and our company take a certain profit. It can not only enrich our range of services and can generate profits again, at the same time also do not need to assume the risk of operation. For other companies, they got the customer resource and the transportation team. It is a win for both.
The advantage of a comprehensive service platform is that it takes only one operation to complete the process previously required to operate on multiple platforms. For example, a customer’s plan is to go out for dinner, go shopping at the supermarket, and send his clothes to the dry cleaner. If he did that in a traditional way, it will take several hours, and saving that time is the advantage of online and offline services. If he chooses the existing O2O service platform on the market, he will need to place an order on the delivery platform, then go to the online supermarket to shopping, and then contact the dry cleaner to pick up his clothes. So, if there is a service platform to integrate these functions, make the customer can complete all operations in a platform, the customer will absolutely choose the more convenient platform, obviously this is the embodiment of the competitiveness of the platform.
Mission statement: The purpose of this company is to provide various online to offline service to university students’ life, including food delivery, online supermarket, dry cleaning and running errands transportation, etc. It is to save customers’ time and provide convenience for customers’ life.
Vision statement: This Company will become the world wild O2O campus service platform, become a part of university life, hope can provide more services in the future and have ability to develop the community market for not students.
Value propositions
A comprehensive O2O service platform for college students, one platform, variety of services, high quality products and transport speed, from choosing to order to distribution, save your time in various aspects and a large margin.24-hour service throughout the day to meet the demand in anytime.
Customer segments
First of all, this platform is mainly for the campus, so the customer main body is students.
For those who do not want to go outside and do not want to waste time on the road or shopping, this platform is undoubtedly the best choice, because the services we provide are comprehensive and shipped quickly, they can save the time to do other things.
On the other hand, many students have the habit of staying up late. At night, most stores are closed, our company offer 24 hours service, it could meet their needs.
More than that, based on the company has a strong transportation team, the company also provide transportation services, which can help students carrying things when they move to a new house or have some large items to carry, they can use our platform for transportation. Or while they do not have time to get something, so we can substitute it.
In addition, other companies providing a single O2O service or ordinary traditional shops can become our customers. They can participate in this platform, our company provides customer resources and transportation team, they provide productions or services, our company charges a certain fee.
Revenue streams
The mainly revenue is from those students who pay for our services. Including all the services mentioned before, which can be paid online or cash. Including the product or service itself profits, such as the company owned online supermarket, and food delivery, the product sell itself with profits, or dry-cleaning service or transportation services, with profits. In addition, there is the additional transportation charge of delivery.
Another revenue stream is from the cooperation with other enterprises for using our platform, and push money from their profit, these enterprises can also choose to hire our transportation team and pay some money.
Our company can also choose to advertise on the website or app and charge for advertising.
Finally, in the area where company cannot operate, can use the form of alliance business. The company provide operation mode, technical support and brand effect, to take the form of alliance business outsourcing, charge a fee.
Channels
The main channels of this company are the platform website and app. And this company will also have some alliance business. Phone order will be accepted too.
An after sales department will be necessary, it is also a channel.
Customer relationships
For those students’ customers who buy our services, the customer relationships are personal assistance and automated services. For those companies who have cooperation with us, the customer relationship is co-creation.
Key activities
The key activities of this company include stocking up, accepting the orders, distributing goods, delivery, advertising and managing the platforms.
Key resources
The key resources of this company are human and finance, which require human to build a strong enough delivery team and management platform, as well as financial resources for daily operation and commodity procurement.
Key partnerships
Suppliers of various goods.
The cooperative company which joined the platform or hire the transportation team.
Alliance business.
Cost structure
Choice of Market
Before embarking on this choice of business we deed a feasibility study of the targeted market using the following metrics.
The answers to the above questions returned positive. A view of our target market from our research shows that it is substantial. This means that it is large and profitable enough to make our investment worthwhile. Our market segment is also measurable, meaning we can be able to measure the key characteristics that define the market e.g. spending patterns, size etc. In addition our market segment is meaningful as it is evident that there is need to bridge the gap between the campus students and different services that they are in need of from time to time (McDonald, 2007).
Types of customers segments
There exist different types of customer segments. This include
In our business plan we chose to use the Niche Market type of segmented. The Niche market for our product is campus students. This is because is because the product has been tailor made mainly for campus use. We identified that most campus students do not want to waste their time going out to shop or get services outside the campus the Hostels. This product therefore will bring services closer to our customers. The platform we will be offering will undoubtedly be the best choice for customers since it will be offering 24hour service to our niche market. This allows us to tap to a potential consumer base that has been there but no one has ever bothered taking advantage of. This is the group of students who opt to stay up late and thus cannot make late night orders since all the convenient stores are closed and most delivery services do not operate at night.
The niche market is the campus students but our business plan will allow us also to cater for traditional shops around the campus premises that might be in need of our delivery services thus making them our secondary customers
Market Trend
Advancement in technology has opened doors to new opportunities in the corporate world. Tasks and errands that used to take a whole day to run now can be done at the click of a button, people can save their by ordering stuff online through online shopping and food delivery through apps. Our product the O2O model of service is one of the most popular model in recent years, a lot of the O2O model management service platforms have been developed, but most of them only operate a single kind of product, such as food or fruit, if a platform has the service of most areas, it will be a huge competitive (Azimont et al, 2015).
After all, the service purpose of O2O module is to save people’s time and bring convenience, and a comprehensive service platform can give full play to this purpose. In this plan, this platform will provide 24-hour food delivery, online supermarket, dry cleaning and running errands transportation services, these services are based on students’ basic needs, more business will be along with the development of the platform. The most important thing for this platform is a strong transportation team, which can support so many businesses.
Competitors Analysis
In our feasibility study we identified a number of competitors who have flooded the market with O2O models that are almost similar to ours. However we managed to identify various shortcomings in our competitor’s models and how they conduct their business. We intend to capitalize on this loopholes found in their systems in order to have a competitive edge in the market. For instance none of our competitors are offering round the clock service to their niche market. Most of the offer 8 hours service and that is between 8 o clocks in the morning to 5 o clock in the evening. Our service will be a round the clock service thus giving us an edge to reach more customers in the same market (Kotler, and Keller, 2009).
Some models have also been said to have software glitch where customers experience challenges when it comes to ordering service through the app or website. We have ensured our platform runs on the latest software model and thus making it user-friendly and pretty first when it comes to making orders through it. Another feature that stands out with our model is that it offers more than one product. It combines several services under one roof. This makes it more convenient for customers as the model offers one stop shop for them. This comes as a plus for our model since most of our competitor offers one product or service within their platforms (Parmerlee, 2000).
References
McDonald, M. (2007) Marketing plans, Sixth Edition: How to prepare them, how to use them,
Elsevier.
Grant, R.M (2002) Contemporary Strategy Analysis. Concepts, Techniques, Applications,
Blackwell Publishing.
Kotler, Ph., Keller, K. L (2009) Marketing Management, 13th edition, Pearson International
Edition
Parmerlee, D. (2000) Auditing Markets, Products, and Marketing Plans, NTC Business Books,
Chicago
Azimont ,F,Reid, E, Kjellberg, H (2015), Market innovation processes: Balancing stability and change,
Industrial Marketing Management, 44, (4)
Upson,J.W , Ketchen, D.J, Connelly, B.L & Ranft, A.L(2012).Competitor Analysis and Foothold Moves,
Academy of Management Journal, 55, 1, (93)
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