Tactile Communication & Neurorehabilitation Laboratory at UW-Madison (TCNL)
The UW-Madison Tactile Communication and Neurorehabilitation Laboratory (TCNL) has developed a new therapeutic method that dramatically enhances functional rehabilitation from neurological disorders, including those causing impairments of movement, cognition, and mood. Experiments with this new non-invasive method have shown significant improvement of movement control in patients with multiple sclerosis, traumatic brain injury, cerebellar ataxia, and peripheral and central balance disorders.
The co-directors of TCNL requested students to research, define and recommend a business and product strategy pertaining to this new product. Students valued the Intellectual Property of this biotech product through the definition of market size, scope, penetration and speed of penetration of the product. The cost structure of the new product, price of product and a plan of how to introduce the product into the market was also determined and considered.
Students spent a lot of time researching similar products and the biotech market in general to determine many of the variables related to the valuation. They also reached out to many venture capitalists, biotech companies and IP layers to learn the intricacies involved in this specific market. The business strategy produced by the students gives a quality valuation and defined plan for the co-directors to follow going forward.
The Hotchandani Laser & Vein Center is an aesthetics center providing a full range of procedures to its clients ranging from hair removal and Botox injections to Laser therapy and plastic surgery. Ten years ago, Dr. Hotchandani started with one and has since significantly expanded and as he has opened multiple locations from Green Bay to Northern Michigan.
The Nicholas team was asked to look at the entire practice and complete a comprehensive assessment of overall business practices. The main topics included capacity utilization, staff management and HR implications such as compensation structure, capital allocation including financial considerations, and overall company valuation.
As the team dove into the company information they quickly learned that there is a difference between recommending overall strategy and determining how to change the operations of a company in order to produce results that allow realization of the overall strategy. Students researched and provided recommendations to the different areas of the company including overall strategy, business, technology, marketing, financial and staff management. The recommendations of future actions to be taken were presented to Dr. Hotchandani in an outlined timeline form allowing for ease of implementation in order of importance.
Project for Microsoft Entertainment and Device Division Microsoft Corporation
Microsoft is interested in gaining a better understanding of how to assess the effectiveness of its marketing expenditures, specifically in the entertainment devices division and to more fully understand current best practices in the area of ascertaining 'return on investment' in marketing spend rates.
In order to determine marketing ROI, students conducted thorough research on annual reports with an emphasis on entertainment and consumer electronic industries. They also spent time researching how these standards change over time comparing them with Microsoft’s product launches and divisional spend rates.
Students determined that marketing mixed modeling which is a regression based marketing spend model was the most accurate way to determine marketing ROI. They presented their findings as to which methods the best companies are using to measure the effectiveness of marketing and the best practices that should be applied at Microsoft.
Best Buy Co., Inc. is a specialty retailer of consumer electronics, home-office products, entertainment software, appliances and related services. Best Buy engages in various marketing initiatives including newspaper inserts, radio, TV, direct mail, field initiated local marketing and sports sponsorship among others. Best Buy is interested in gaining a better understanding of how to assess the effectiveness of its marketing expenditures, specifically in the consumer space and to more fully understand current best practices in the area of ascertaining 'return on investment' in marketing spend rates.
Students were asked to determine what is an optimal level of spend (relative to the total marketing portfolio) when focusing on new customer groups, what are the most effective marketing vehicles, and how do companies measure their effectiveness? The students researched industry standards on sales and marketing spent for various industries and countries and also developed a survey which was sent out to different brand managers at large corporations.
Students determined that marketing mixed modeling which is a regression based marketing spend model was the most accurate way to determine marketing ROI. They presented their findings as to which methods the best companies are using to measure the effectiveness of marketing and the best practices that should be applied at Best Buy.
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