近十年来，越来越多的大中城市开始步入地铁时代。地铁快速发展成网络规模，由 此带来的地铁媒体广告值得我们密切关注。地铁媒体广告不仅仅是地铁站内的一道靓丽 风景，也为广告商创造着商业利润，很多时候更是标志着一个城市的文化定位。然而， 当前 H 市面临地铁媒体广告创意不足等问题。是一篇采用相关理论与媒体广告业的 具体实践相结合，解决 H 市地铁媒体经营权投资项目存在的实际问题，得出 H 市地铁 媒体经营权投资项目是否可行的商业计划书，具有一定的代表性和现实意义。 分别从公司与项目简介、发展战略规划、项目运营环境、业务推广与市场运营 计划、财务计划和风险控制等多个方面对投资 H 市地铁媒体广告经营权项目进行了详细 的分析和总体规划。具体而言，研究内容主要有，首先，分析了本投资项目的背景与环 境。其次，提出了本项目在市场营销中所采用的定价策略与促销策略。鉴于地铁媒体营 运的特征，还提出了地铁媒体广告常用的提升低级别站点媒体刊挂率的策略、创新销售 策略和公益广告计划。再次，借助于资产资本定价模型（CAPM）来确定贴现率，采用 净现值法（NPV）和内部收益率法（IRR）对本项目进行了经济效益评价，从财务上确 定本项目的经济可行性。最后，对投资 H 市地铁媒体广告经营权项目在实际运营过程中 可能面临的政策、管理与经营与财务风险进行了定性分析；同时，采用因素敏感性分析 法对本项目所面临的风险进行定量分析。 通过上述分析，得出投资 H 市地铁媒体广告经营权项目的市场宏观环境与行业 环境都较好，宜采用增长型的发展战略。在项目市场运营过程中，定价策略与促销策略 最为关键。财务分析得出本项目的资本贴现率为 9.74%，净现值为 3764.85 万元，内部 收益率为 34.3%。可见本项目的经济效益十分显著。本项目主要的风险因素是主要业务 收入，整体风险水平较低且可控。 综合而言，本投资项目是一个高收益、低风险且可行性强的好项目。 关键词，商业计划书 地铁媒体 投资经营 II ABSTRACT Over the past ten years, more and more large and medium sized cities began to enter the subway era. Subway rapid development into the network size, the resulting Metro media advertising is worthy of our close attention. Metro media advertising is not just a beautiful scenery of the subway station, but also for advertisers to create a commercial profit, many times it is a sign of a city's cultural positioning. However, the current H city is facing the problem of subway media advertising creativity and other issues. This is a practice of using the related theory and media advertising industry combined to solve practical problems in H City, Metro media franchise investment projects, the H City Metro media franchise investment project is feasible business plan, representative and practical significance. Many aspects of this paper respectively from the company and the project introduction, financial plan and risk control of investment in H City, Metro media advertising rights project carried out a detailed analysis and overall planning. Specifically, the research mainly from the following aspects: first, put forward the investment H city subway media advertising management project research background and significance of the project for the environmental analysis. Secondly, the pricing strategy and promotion strategy of the project are put forward. In view of the characteristics of Metro media operation, it also puts forward the strategy of promoting the low level site media publication, innovative marketing strategy and public service advertising program. Again, based on the capital asset pricing model (CAPM) to determine the discount rate, the net present value method (NPV) and internal rate of return (IRR) of the economic evaluation of the project, determine the economic feasibility of the project from the financial. Finally, the investment of H Metro media advertising rights project may face in the course of the actual operation of the policy, management and operation and financial risks are analyzed; at the same time, the risk factor sensitivity analysis method in the face of this project by quantitative analysis. Through the above analysis, the thesis draws the conclusion that the market macro environment and the industry environment of the investment H Metro media advertising management right project are better, and the development strategy should be adopted. In the operation of the project market, pricing strategy and promotion strategy are the most important. Financial analysis of the project's capital discount rate of 9.74%, the net present value of 37 million 648 thousand and 500 yuan, the internal rate of return of 34.3%. Obviously, the main risk factors of the project is the main business income, the overall risk level is low and controllable. III In general, the investment project is a good project with high income, low risk and strong feasibility. Keyword: Commercial Prospectus;Metro Media;Investment Management IV 目 录 摘要.....I ABSTRACT ..... II 第一章 绪 论....1 1.1 研究的背景及意义 ... 1 1.2 文献综述 . 1 1.2.1 国内外研究现状. 1 1.2.2 相关理论综述..... 2 1.3 研究方法与内容 . 3 1.3.1 研究目标与方法. 3 1.3.2 研究内容与框架. 4 第二章 项目基本情况分析6 2.1 公司与项目简介 . 6 2.1.1 项目概述. 6 2.1.2 公司介绍. 7 2.1.3 公司成功案例..... 8 2.2 项目发展条件 ... 10 2.2.1 媒体资源..... 10 2.2.2 市场资源..... 10 2.2.3 客户资源..... 11 2.2.4 团队资源..... 11 2.3 本章小结 ..... 12 第三章 环境分析..13 3.1 宏观环境分析 ... 13 3.1.1 政策环境..... 13 3.1.2 经济环境..... 13 3.1.3 社会环境..... 15 3.1.4 技术环境..... 17 3.2 项目行业竞争力分析 ... 17 V 3.2.1 全国地铁媒体广告行业规模与市场预测. 17 3.2.2 地铁媒体广告投资现状与前景预测分析. 18 3.2.3 项目团队市场地位与竞争对手分析... 18 3.3 本章小结 ..... 19 第四章 项目市场营销策略....20 4.1 市场推广计划 ... 20 4.2 定价策略 ..... 23 4.3 促销策略 ..... 28 4.4 提升低级别站点媒体刊挂率的策略 ... 30 4.4.1 FC 搭配策略 30 4.4.2 N 字形点位发布策略 .... 31 4.5 集团内部销售促进 . 32 4.5.1 客户资源的共享..... 32 4.5.2 销售网络的共享..... 33 4.6 创新销售策略 ... 33 4.7 公益广告计划 ... 34 4.8 本章小结 ..... 35 第五章 财务计划与效益分析36 5.1 项目经营方案与融资方式 . 36 5.1.1 项目经营方案... 36 5.1.2 项目融资方式... 37 5.1.3 贷款本息的偿还..... 37 5.2 项目经营预测 ... 38 5.2.1 收入预测..... 38 5.2.2 成本预测..... 42 5.2.3 现金流预测. 44 5.3 项目经济效益分析 . 45 5.3.1 损益预算表. 45 5.3.2 静态盈利能力分析. 46 5.3.3 动态盈利能力分析. 46 VI 5.4 本章小结 ..... 48 第六章 项目风险分析与对策49 6.1 风险定性分析 ... 49 6.1.1 政策风险及对策..... 49 6.1.2 管理风险及对策..... 50 6.1.3 经营风险及对策..... 51 6.2 风险定量分析 ... 52 6.3 本章小结 ..... 53 结 论..55