Company: Thermo Fisher Scientific
Liaison(s): Sean Banks, Matt Ferris
Thermo Fisher Scientific, Inc. is the world leader in serving science, with revenues of $17 billion and approximately 50,000 employees in 50 countries. Their mission is to enable customers to make the world healthier, cleaner, and safer. They help customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, and increase laboratory productivity. Through five premier brands Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services they offer an unmatched portfolio of innovative technologies, purchasing convenience, and comprehensive support. Thermo Fisher Scientific, Inc. has completed several major mergers and acquisitions over the past ten years. This has led to an overcrowded molecular biology portfolio that requires simplification through product discontinuations and conversions. The company wants to determine best practices for this process in order to maintain customer loyalty and satisfaction. The KGI team conducted primary research to evaluate customer preferences regarding product discontinuations and conversions. A comprehensive market research survey was designed, tested, validated, and sent out to several databases totaling nearly 40,000 individuals within the field of molecular biology globally. Quantitative data collected from the survey was supplemented with qualitative data gathered through 30 one-on-one interviews at the American Society of Cell Biology annual meeting. All data was then compiled and analyzed to discover trends and patterns, and to ultimately develop a strategic proposal. The recommendation aimed to assist Thermo Fisher Scientific, Inc. in developing the most seamless transition for customers experiencing a product discontinuation.