The Seeker:

An innovative small business that had grown a significant level of sales in the hospital sector, with a flexible screening product that embodied a novel technology.

The Challenge:

The company was doing well but to continue its growth, the small business was now considering diversification into the office furniture sector, possibly in collaboration with another company already established in that market.

As with many small businesses, the management was already fully stretched, and requested the help of a student to spend seven weeks working on a possible market entry study for them.

The response:

Working closely with the small business management and other stakeholders, the student made use of her course learning to produce a very useful report and presentation for the company.

Many factors were considered, including the potential size of the market, the possible need for product redesign, the location of manufacturing capacity, and the protection of intellectual property. The possible routes to market, and the associated relationship with any partner company, were major considerations.

Outcomes:

For the student, it was a very positive experience of the practicalities of market opportunity evaluation, and the work was assessed as part of her degree course.

The company subsequently was able to make informed decisions about the way forward.

Note: this is a real project that has been anonymised for confidentiality and to provide an example of the type of project that might be suitable.