Biochemical Systems
SITUATION
Major manufacturer of biochemical detection systems largely produced for the government market set a goal to double revenue within eighteen months.
DRIVER GOAL
- Create a structured business plan with fact-based assumptions and projections to enable the identification of and penetration into selected commercial markets.
RESULT
- Developed an executable business plan.
- Developed an implementation plan that facilitated the start-up of the commercial business.
Case Study
Develop Strategy to Achieve Net Income Goals
Issue
A major manufacturer of biochemical detection systems largely produced for the government market set a goal to double revenue within eighteen months by entering domestic Homeland Security markets and increasing net income to greater than 30%. To reach these goals, the company asked The Highland Group to help it determine what products to develop, at what price to sell them, and to whom (the commercial customer target) to market them.
Highland Approach
The Highland Group’s analytical professionals started by validating the market opportunity and reviewing the existing New Product Introduction process. Next, the team created marketing and product strategies and developed a high-level business plan and the associated, detailed implementation plan to achieve defined Driver Goals.
Actions Taken
- Validated market opportunity and conducted market analysis and segmentation.
- Created business, market and product strategies.
- Identified the competitive landscape and developed market positioning and differentiation strategies.
- Defined partnering, alliance, acquisition targets and relationships.
- Performed critical skills identification and assessment.
- Constructed financial models and developed risk mitigation strategies.
- Selected and published a “best scenario” business plan with critical business processes.
- Developed an implementation plan.
