BUSINESS MODEL INNOVATION

BUSINESS MODEL INNOVATION
The Mewlin’ project – Business Model Innovation

Coach:
Tran Xuan Linh
Nguyen Thi Thuy Trang
Project leader: Pham Ngoc Thuy Diem
Vice leader: Nguyen Dang Quynh Tram
Member:
Vo Trong Khoi
Nguyen Ngoc Nhu
Nguyen Dang Quynh Thu
Dong Kien Tai
Nguyen Khanh Linh
Nguyen Ngoc Kieu Trinh
Nguyen Vu Hong Ngan
Lai Truc Lam
Bui Minh Khang
Vu Thi Anh Thu
Le Boi Thu
Nguyen Thi Xuan Huong
Chung Thuy Quynh
Nguyen Nhat Nguyen
Nguyen Phuc Thanh

About Mewlin’:
Mewlin’ is a social enterprise that aims to improve young people’s English communication skills, thereby helping them develop themselves and increase their opportunities to study and work.

Core Values: M-E-W

• Mindfulness: We want to become a place for you to both perfect your English communication skills and relax after a long tiring day.
• Edu-healing: We are willing to serve your interests, including your professional skills (English) and your mental life.
• Willingness: We understand and respect your present moment, whether in that moment you are trying to study, practice or are resting and relaxing.

10 minutes clip of Mewlin”s presentation:

Mewlin’ – Round 2 – Business Model Innovation – Engsub

Mewlin’ presentation file:

Mewlin’ – Presentation – Business Model Innovation

A. Social business idea

A1. Social mantra one-liner

Mewlin’ is a project that helps young adults learn English communication through healing activities. Our vision, mission, and core values, including mindfulness, edu-healing, and willingness—are defined to help us achieve our objectives. After feedback from round 1, we have refined our business mantra to: “Edu-healing English communication mobile app, workshops to improve young adult confidence for self-development and self-healing.”

• Business solution: Edu-healing English communication mobile app, workshops.
• Target customers: Young adult
• Social solution: Self-development and self-healing

This revision emphasizes the Edu-healing element and specific activities, leading to more positive feedback from Mewlin’ exhibition for university students and online testing Notably, 51.5% of respondents reported that the new mantra improved their understanding of our business solutions.

A.2. Product/service presentation

We achieve our goals through three main activities: Edu-healing mobile app, workshop, and social activities. One of Mewlin’s most remarkable innovations is providing a healing-oriented resource for learning English communication. With four unique selling features (USPs): healing quotes, healing podcasts, healing diary entries, and interaction with AI celebrities, we aim to improve the learning experience and support both personal development and emotional well-being among young adults.

 

Our app enhances English communication skills through relaxing and healing activities such as Daily Quote Check-in, Daily Reflection – Diary, Podcast, and AI interaction. Besides, we retain customers by allowing them to care for a virtual cat, assigned based on English and mental health tests conducted when they first use the app. These functions are described in this prototype:

Mewlin’ – Prototype

We surveyed 715 people, and most rated the app’s performance highly, with the highest score being 4.2 for the Uniqueness index. Besides, over 35% of respondents consider Mewlin’s learning content creative and high-quality, and 50% find our app easy to learn.

In addition to reaching our target customers and developing the app prototype, Mewlin’ organized an exhibition to showcase the mobile app to young students, our target audience. We received positive feedback from 99 attendees, with an average support rating of 4.3 for Mewlin’.

 

B. Business model

B.1. Business model overview

We apply the Business Model Canvas in the business model overview to identify our key elements such as value proposition, key partners, key activities, customer segments, etc.

In the BMC model, we identify two target groups: customer and social target group. We offer tailored solutions for each:

• Customer target group: We provide an edu-healing English communication learning program uniquely designed for young adults.
• Social target group: We offer free English communication learning opportunities to enhance study and job prospects for disadvantaged young adults.

To deliver these values, we focus on the following key activities:

Besides, we engage with our target groups through both online and offline channels, including websites, social platforms, and universities. Through these channels, we aim to cultivate secure and comprehensive relationships with our target audiences through AIDA model: Awareness, Interest, Desire and Action.

The innovation of our business model lies in simultaneously helping users to learn English communication and promoting mental well-being. And we are also pioneers in implementing the Visual, Auditory, and Kinesthetic (V.A.K.) learning style within our app.

B.2. Economic value for customers

Our customer persona is Le Nguyen Nguyen Phuong, a 19-year-old student residing in Ho Chi Minh City. She is introverted and prefers indoor activities. Phuong’s pain points include consistently delayed learning due to a lack of confidence, an unsupportive study environment, and stress associated with learning English communication. Her desired gains include accessing unique learning resources within a supportive study environment, reducing anxiety, boosting motivation and confidence.

Mewlin’ has identified that its target users face issues such as lack of support in learning environments, constant stress, low confidence in communication, and procrastination. To address these problems, Mewlin’ offers a stress-free, effective English learning program through interactive diary writing and podcast listening activities. This approach aims to boost user skills, communication confidence, and self-development. Users can earn points through lessons to buy in-app items for their virtual pets. Mewlin’ recognizes that while young people understand the importance of English, they often feel overwhelmed by traditional study methods.

Our solution stands out from dominant competitors in the market. As rated by 43 respondents, the average scores for interesting and healing degree are 9 and 9.5, respectively.

B.3. Target social impacts

Our social beneficiary persona is Nguyen Y’La, a 22-year-old student from Pleiku province. Her pain points include financial barriers in self-developing and self-healing and a lack of confidence in English communication. She seeks increased confidence, affordable learning resources, and future opportunities without language barriers.

Based on insights from our social beneficiary persona, we offer solutions to address opportunity gaps, along with financial support for disadvantaged students’ education. Our gain creators include the rise in English communication knowledge and confidence among disadvantaged students, future opportunities with improved English communication skills, and creating social impacts.

Through our channels and relationships, Mewlin’ implements a circle of activities to craft a social strategy aimed at achieving social impact outcomes. Our focus is on raising the English communication knowledge and confidence of disadvantaged students.

Our products align with the target UN Goals 4.7 and 8.6 through intended impacts for potential beneficiaries. By 2030, Mewlin’ aims to assist 64.000 young adults in enhancing their confidence in English communication, with 40% of our users improving their English proficiency.

B.4. Feasibility

To realize our economic and social value propositions, Mewlin’ is backed by reputable experts with extensive experience in business, English communication education, and related fields.

For organizational structure, we have 3 levels: the B.O.D, senior managers, and specialists, each with specific roles to operate the project effectively.

As can be seen from the organizational chart, we have 7 departments: Business, Concept Art, UX/UI, IT, Social Media, Events and Marketing, and Production.

The B.O.D of Mewlin’s ensure long-term direction, strategic decision-making, and cultivates a DEI culture.

Each department is led by an experienced head to oversee the progress of work and ensure tasks are completed on schedule.

Our specialists are talented members from various backgrounds, bringing forth innovative ideas and delivering high-performance results. To manage a team of over 20 individuals with diverse backgrounds, we are committed to barrier-free recruitment and implementing a culture of D.E.I to foster a sense of belonging among our members.

B.5. Profitability

Statista (2023) projects that Vietnam’s online education market will generate $328.2 million in revenue in 2023, growing to $487.57 million by 2027, with an annual growth rate (CAGR 2023-2027) of 10.4%.

Over 300.000.000 VND. Initial costs amount to 4.7 billion VND, with subsequent annual costs averaging around 3 billion VND (excluding tax). Mewlin’ is projected to reach its break-even point in 2028, after 4 years, with approximately 30.000 app users.

Despite its late launch, Mewlin’ has taken a unique approach compared to other platforms by focusing on practical English communication and fostering a healing learning environment. This strategy helps Mewlin’ attract and identify potential customers. Mewlin’ promotes its platform through social media, UEM, workshops, talk shows, and is available on Google Play, the App Store, and channels of KOLs, KOCs, and influencers.

B.6. ESG integration

We prioritize the Social and Governance criteria of ESG throughout our tactical actions, mission and vision orientation, and continuous improvement efforts.

Notably, the D.E.I culture and social media are the 2 most impacted practices by ESG integration, receiving a rating of 4.95 points in a survey conducted with 145 Mewlin’ stakeholders.

C. Business model validation

C.1. Crowdfunding/crowdsourcing campaign

Mewlin’ utilizes effective offline and online approaches, and we has garnered over eighty five hundred impressions and 2300 reaches as of June 1, just six weeks after its inception. Additionally, Mewlin’ has obtained 210 physical signatures from stakeholders across multiple fields, including numerous companies and experts.

Among our project stakeholders are many universities and educational centers, highlighting the potential of our business model. As of June 1, we have raised 3,380 USD through crowdfunding and crowdsourcing campaigns.

C.2. Learning curve

During market penetration and product development, Mewlin’ faces numerous challenges, including internal factors like teamwork conflicts and external factors such as target customer distrust and stakeholder skepticism. These challenges necessitated the development of appropriate and timely improvement strategies to ensure continued progress.