Research On OMO Business Model Innovation Strategy Of HQ Company’s Online Business

In 2020,the "black swan" of COVID-19 has promoted the advance reform of the education and training industry,accelerating the differentiation of the industry pattern and forcing enterprises to carry out self-reform.Although it is impossible for online education to completely replace offline education in the future,with the wide application of artificial intelligence and big data analysis in the education industry and the improvement of the penetration rate of online education,the OMO(Online Merge Offline)model integrating online and offline may become the mainstream.HQ’s online business belongs to the HQ Group.It was established as the group’s online product center,providing online courses and services to the students in its branch schools.Over the three years since the business line was established,revenue has doubled every year.However,from the fourth quarter of 2020,the growth rate of the business slowed and declined year-on-year.After analyzing the reasons,it is found that this business only has a single customer acquisition channel for offline branch schools,and this business model can no longer meet the needs of its continued rapid growth.Therefore,innovation and changes are needed to explore new growth points for performance.This paper studies the definition and essence of business model,and summarizes the current research results at home and abroad through the literature review of innovation management,business model and OMO business model.Then the external environment of the industry is analyzed through the PEST model,and the internal environment of the company is analyzed from six dimensions of the enterprise.Then it analyzes the existing business model of HQ’s online business and finds that it mainly relies on offline schools to acquire customers at present.The channel is too single and the ability of acquiring customers by itself is insufficient.It concludes that the existing business model of HQ Company’s online business needs to be changed.Then,the business model innovation strategy of HQ Company’s online business is designed,and two new customer acquisition channels are planned,online and offline,and using the 4Ps theory of innovation management: product innovation,process innovation,positioning innovation and paradigm innovation four dimensions of innovation strategy design.Finally,the two customer acquisition methods are elaborated,and the implementation effect of the four dimensions of innovation strategy is evaluated,and the profit model is calculated.It is concluded that the new business model can solve the customer acquisition problem faced by HQ Company’s online business and contribute better profits to the enterprise.The innovation point of this paper is mainly to use 4Ps theory to design the innovation strategy of HQ Company’s online business OMO business model,and to verify and evaluate its implementation effect and profit model.It can be used as a reference for the online education institutions that have common profit dilemma,and it is hoped that the research results can have certain inspiration and reference significance for the education and training industry.There are 31 figures,15 tables and 60 references.