Business plan of an online social commerce platform for the middle-aged and the elderly in China

Abstract

This thesis is a business plan for creating an online social commerce platform, Second Life, for the middle-aged and the elderly in China. There is a huge and growing middle-aged and elderly population in China. A large portion of this population faces some social and economic issues, such as loneliness and low pension income. This thesis proposes to address these issues by building an online community tailored for the middle-aged people and the elderly in China. On this platform, users can have active online social activities to reduce the sense of loneliness and to enable peer-to-peer help. At the same time, the platform will also serve as an online marketplace for seniors to show and monetize their skills, knowledge or other resources. To examine the feasibility of Second Life and to get ready to make Second Life happen, this business plan covers the following areas. First of all, it articulates the business idea and strategic goal. Then, the business environment is examined through PEST (political, economic, social and technological factors) analysis to understand the opportunities and threats posed to Second Life. Next, product design guidelines are discussed through observation and literature review. Then, the initial business model is introduced. The beachhead market is identified and the competitive landscape is examined through the lens of Michael Porter's Five Forces. Later, sales and marketing strategies, approaches and a three-step sales and marketing plan are mapped out. Next, the management team is introduced. And finally, financial performance over four years is projected and the key assumptions are pointed out.