"Our board of directors and advisers were all very impressed with the work of the team, and feel that that their sales and marketing suggestions successfully form the basis for our strategies moving forward. We've found that the final report generated by the students has significant value to those that may provide Materna with its next round of funding."
The Tippie Business Solutions Center will launch 11 strategic business consulting projects spring 2012, led by teams of MBA students working with geopgraphy diverse clients and across many industries. Team leaders have begun dialogue with their clients to finalize scope, and to develop a detailed work plan and arrangement letter. The scope of the projects include large scale data analysis, market entry and expansion strategy, and strategic decision support, among others for clients including GE Healthcare, Fortune Brands, Best Buy, Allsteel, Pearson, Total Filtration Services (Clarcor), Actuant, Eaton, Stihl, Deere, and Source Media.
Each team member works a minimum of 10 hours a week on the project, totaling around 800 hours per team. Weekly conference calls will be held with the client, in addition to meetings with Rich Boulger and Shannon Juergens, Directors of the BSC. Teams travel to the client for site visits, meetings, and midpoint and final presentations when they present their findings to client sponsors. Read about one of our past projects, Materna below and view other sample projects on the BSC website.
Project: Materna, a medical device company based in San Francisco, has developed a new device that may be able to decrease damage caused during childbirth. Pending ongoing clinical trials, Materna asked the Tippie School of Management for assistance in developing a detailed business strategy.
Scope: The project was focused on the development of a detailed business strategy; this included: identification of the proper market segments, cost analysis and price point of the device, as well as a marketing strategy aimed at maximizing sales. Ultimately this information will be used to assist Materna in bringing a safe, saleable medical device to market.
Outcome: The team was able to create and administer surveys to gather information from two of the most important market segments: women and obstetric providers. The surveys resulted in over 400 women responses and 220 obstetric provider responses. This information was integrated with the medical costs associated with birthing complications to develop a detailed cost-benefit analysis for hospitals, as well as a proper price point for the device. The survey results were also used to develop a marketing framework for Materna to consider when the scientific studies are completed for their novel device. As part of the analysis, the student consultants also provided a detailed report on the international market for new medical devices and potential international markets Materna could enter with a high probability of success.
"The energy and fresh viewpoints behind the detailed
analytical work of the BSC team members has provided
significant value to our company."
Bern Shen, M.D.
Investor, Materna Medical
Member, Silicon Valley Band of Angels