As part of MSc Innovation, Entrepreneurship & Management, students completed their Consulting Projects, solving business problems with real companies. Here, the student team who worked with Imperial start-up DNA Nudge share their experience of working on a project which challenged their thinking and offered DNA Nudge highly practical alternatives.
Which company did you partner with?
DNA Nudge, a stealth-mode start-up founded by Imperial’s Regius Professor Chris Toumazou and Dr Maria Karvela.
DNA Nudge aims to nudge grocery shoppers towards making healthier food purchasing decisions in the supermarket environment. It does this by providing users with personalised food product assessments and recommendations (delivered through a mobile application) which are based on results of a proprietary, nutritional-focused genetic test.
The DNA Nudge team had an advanced understanding of the market potential of their product, however they were seeking insights into the most appropriate strategy for launching the product in the UK market, in order to fully realise its potential over the first 24 months.
Our team identified, investigated and evaluated several potential strategies for the product’s features, pricing models, distribution channels and promotional activities. We made specific, strategic recommendations for DNA Nudge to adopt over the course of Phase one and, subsequently, Phase two.
Who’s in your team and who did what?
- Lin Altayara: Lin was responsible for the incorporation of academic frameworks e.g. Porter’s Five Forces
- Benjamin Belnap: Benjamin was responsible for investigating the merits of moving upmarket during Phase Two, through focusing on the premium feature, pricing, distribution and promotional strategies.
- Matthew Bingley: Matthew was responsible for investigating and evaluating strategies for the launch of DNA Nudge during Phase One.
- Max Lyons: Max had overall responsibility for liaison with DNA Nudge and investigating the merits of expansion into online shopping product features during Phase Two.
- Chris Rowe: Chris was responsible for investigating the merits of all potential channels for physical distribution during Phase Two.
What was it like to work with the company?
DNA Nudge were not only hugely knowledgeable, professional, and excellent at communicating their vision for their product; they were also extremely friendly and approachable, which enabled our team to confidently work with them to request data, input and feedback throughout the process.
Do you feel like you’ve made real impact with the project? What was the feedback of the company?
The feedback we received from DNA Nudge made it clear that they found our report and presentation to be hugely insightful for them. We were able to quantify and confirm a number of their assumptions, as well as challenge some of their thinking and offer viable, highly practical alternatives.
About the presentation
How did it feel to be presenting your project to a panel of industry experts? How did you prepare for the presentation?
It was nerve-wracking, however our team made sure we had sufficient time prior to the presentation to finalise our pitch and ensure that our content was strong, our delivery impactful, and our timing was on the mark.
Due to the time restraints of the presentation, the team made sure that we had clear answers to the areas which we anticipated would require further clarification. This enabled us to give the client a strong understanding of the complexities of both Phase one and Phase two of our strategy.
About studying at Imperial College Business School
How would you rate the opportunity to work on a real world consulting project as part of your Master’s?
It was a brilliant opportunity to put theory into practice. We had to get to grips with an entirely new disruptive technology and produce our report and presentation in a tight timeframe in the context of having a very professional client who had high expectations of us. In short, it was absolutely like the real world! It was both instructive and pleasurable to work with the DNA Nudge team – we learned a lot.
How would you rate your overall experience of studying MSc Innovation, Entrepreneurship & Management at Imperial College Business School?
During the introductory week at the beginning of the programme, a promise was made that by the end of the year, we would no longer be students but rather professional executives. Imperial College Business School delivers on its promise: the programme advances students across a number of criteria, instilling knowledge and professional acumen, developed through lectures, projects, presentations and tough exams. This culminates in the development of graduates who are equipped with the tools which enable them to handle difficult tasks, such as the ambitious project we undertook for DNA Nudge.
What would you say to a student who is thinking about studying at Imperial College Business School?
Imperial College Business School is a fantastic institution with exceptional academic staff, unrivalled diversity, and offers tremendous links into some of the most exciting research areas, such as robotics, artificial intelligence, crypto-currencies and healthcare.
We would highly recommend the Business School to prospective students, and would urge them to fully investigate the vast array of programmes which it offers, as there will be a programme suited to almost everyone.
Learn more about MSc Innovation, Entrepreneurship & Management at Imperial.