Business plan\E-commerce \An App for cultural exchange

4Ps:

-Place – China, Wuhan

-Product- App with services

-Price-Freemium method

-Promotion- Self-promotion, advertising, person to person

Background and Significance of the Project

Today Wuhan is a rapidly developing city. From year to year, the influx of foreigners increases.
But under this condition, there are still problems with finding information about the city,
universities, cultural places, in addition, there are such boundaries as the difference in culture
and language barrier.

Based on the above facts, it is relevant to find a solution. And one of the solutions is to create
an application for cultural exchange. This application will consist of several parts:

- 1st, informative blog, which will contain information in the public domain, divided by subject.

- 2nd, chat, which will be equipped with a selection function. Selection will be based on the
user's information (knowledge of a certain language, indication of certain interests)

- 3rd, an online blog in real time. Blog where news will be published online, reports of
emergencies, offers from restaurants, places of entertainment and so on.

ProjectProfile

 An App for cultural exchange in Wuhan, China.

 Based on Wuhan, China
 Project created by 3 MBA students Wuhan University of Technology

BusinessModel

Create an application for cultural exchange, learning, communication and information

exchange.

Our project is aimed at solving the problems of several parties, and is calculated as an
electronic business built on public exchange. The main earnings will be built on the sale of
shares, it is also necessary to take into account the system of internal purchases. It is also
possible to cooperate with other companies, the conclusion of contracts for the use of certain
database, as at the same period we will create an application in parallel will create own
database.
The main tasks in the process of setting the system of the application are:

- Developing the correct structure of the application

- Creation of a unique system of analysis of the target audience

- Dataanalysisandsubsequentstructuring

- Creating a strongteam

Valueadded:

 People can search for necessary information in different languages

 Solve problem with language barrier
 Create an application where people can enjoy the time

SWOT Analysis
Strength

- Combining multiple services

Combining several services will provide additional opportunities for development. At the
moment, there are already services that are based on something specific, information, chat,
news, places.

- Focus on the culture exchange

Cultural exchange involves reaching a large audience, which also provides opportunities for
further development. In most cases, a business based on a narrow specificity wins, but in
our case it is worth covering a large audience to have more opportunities.

- Highfunctionality

The functionality of the application allows you to create a pleasant and convenient service
for visitors, it will allow easy to use the application for simple users who can easily find the
section of interest to them, as it will be convenient when working with other companies ,
for example, to advertise in this application to find a certain audience. Also, high
functionality will help to make advertising invisible and complement the ways of earning on
the application.

Weaknesses

- The high cost of software

Given all the necessary services within the application, high software costs will be
required.

- Highcostofequipment

When you consider creating a personal database, you will need good equipment.
- Timecosts

Creating and editing quality content, preparing knowledge base, signing contracts,
collecting information and analysis – these aspects will require careful preparation.

Opportunities

- High ratio of future development in the market

Taking into account the current situation with the development of the city, we can say that
the flow of arriving foreigners and local residents will only grow, and this can be used as a
point of support for future development and increase the number of users.

- Obtainingstate\governmentsubsidies

It cannot be ruled out that this application will promote cultural exchange between
different people. This means that it will also improve people's mutual understanding and
will also affect international relations. Using this fact it will be possible to get state\
government support.

Threats

- Marketsaturation

There is high competition in this market. The competition will be both small companies and
giants.

- Government regulations

Regulation and amendments by the state in relation to business in this sector.

Cost

Time to create an application-800-1100 hours

The cost of creating the application-50 000-100 000 yuan

The time required to test and publish - 4-5 weeks

The price for testing and publication - from 10 000 yuan

Operations and Management Strategy
The choice of the business model

What is the goal ? Develop brand awareness, generate revenue, free advertising on your
application, a free application with a paid option, a paid application, in-app purchase for
bonuses, sponsorship, database rental ...

Define the features

To define the features, the simplest method is to do a top-down analysis: we first list the
main features, it will sort and decide what features will be needed in the first version of the
application.

Design the application

This step is important because it allows you to make choices that will structure the
application, make a design can be made quickly and saves time later. In this step, you need
to choose a target environment for your application; ours is the students residing in china to
facilitate their research.

Creating a design and flow

To get a concrete idea of what this means, draw the screens of your application directly by
hand or using software. It is about making wireframes to view where the elements of the
application will be placed and to define the flow of each feature. We click on this function,
we come to this page where we can do this, etc. To maximize the user experience.

Application development and testing

The development of the application, list the modules and features of each and develop
them in turn. It is necessary to test absolutely everything and debug it according to.By
testing before launching: the idea is simple: first have the application tested by a group of
target users (students) before placing on the market. step allows to take into account user
feedback to better adapt the application before its official launch.

Content creation

Content should include blog posts, press releases, social media content, website content
and email marketing content. Plan all of this to be responsive on launch day, then
periodically check social media during the launch week as we provide real-time updates to
answer questions, tips and recommendations from students.
Record a video

Create a video that shows how to use the app. Explain clearly what the app is doing and
why it is useful in real life, especially in the lives of students residing abroad. A short
demonstration video is one of the easiest ways to display the value of our app.