Year: 2015-16
Company: WuXi Biologics
Liaison(s): Steve Farmer
WuXi Biologics Ltd., originally established in 2009 as a WuXi AppTec operating division, is now a wholly owned subsidiary of WuXi PharmaTech, Inc. Wuxi Biologics is the world’s single source provider from drug discovery through manufacturing of bulk drug substance and release of final drug product. By using a single vendor, clients are able to track accountability and streamline their workflow. WuXi Biologics has operating divisions in Shanghai, WuXi City, and Suzhou, China. Its parent company, WuXi PharmaTech, was established in 2000 and now has 10,000 employees globally, generating revenues greater than 750 million USD. The WuXi Biologics sales and marketing team charged the KGI Team Master’s Project team with design of a market research survey. WuXi Biologics was interested in assessing its market perception within different geographic regions of interest. Based on the results of the market research survey, WuXi Biologics also tasked the students with outlining an actionable and implementable strategy in order to increase revenues in major territories. The KGI students created a detailed market research survey under the guidance of the WuXi Biologics corporate liaison. The survey, email blast strategy, and data analysis were optimized in order to ensure that useful information was obtained for WuXi Biologics. The team was successful in obtaining over 500 complete responses, meeting the initial target goal. Through data analysis, the students were able to discern the perception of WuXi Biologics within the industry. The team then devised strategic recommendations for WuXi Biologics to increase customer retention and overall revenue.