Company: Thermo Fisher Scientific
Liaison(s): Melanie Kuderka
Thermo Fisher Scientific is a global company with a presence in over 50 countries, reporting over $18 billion in revenue in 2016 and dedicating $700 million in research and development. Since its inception in 2006, Thermo Fisher Scientific has solidified its position as a market leader in life science technology within healthcare, pharmaceutical, biotechnology, industrial, government, and academic settings with their consumables, services, and instruments. Despite this reach in the life science industry, there is significant untapped potential within the academic laboratory to drive product adoption, retention, and overall revenue growth for the company. Consequently, the team was tasked with developing an innovative and implementable product marketing model that aligns with the company’s overall strategy to garner customers and foster long-term relationships with new and existing customers as they move forward in their careers, from bench scientists and beyond. To do this, the team accrued a comprehensive understanding of the customer’s purchasing behavior and translated it into an actionable strategy and recommendation. Beginning with a thorough assessment of the competitive landscape within the life science and retail consumer industries, the team gathered the voice-of-consumer to identify unmet needs through interviews, surveys, and a focus group with bench scientists, lab managers, and principal investigators. Then, they were able to discern the ideal customer journey to develop a novel marketing model to implement within the company’s overall strategy, culminating in a recommendation with key performance indicators to assess performance and maintain the program as Thermo Fisher Scientific looks toward the future
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