SFU-018 - Module 2 (Learning Objectives)

Learning Objectives

During this module we'll outline the key concepts you need to understand before starting the simulation. We'll also cover the goals you should aim to achieve, ensuring you're well-prepared for the tasks ahead.

Remembering

Understanding

Applying

Analysing

Evaluating

Creating

Learning objectives

Detailed breakdown

Here's a breakdown of what's to come in the course.

Preparation Task

Research Task

Analysis Task

(10 minutes)

(30 minutes)

(30 minutes)

Remembering: Identify the key steps and considerations in drug commercialisation. Understanding: Read an article or watch a video summarising the stages of drug commercialization, focusing on market research, regulatory requirements, and promotional strategies.

Applying: Conduct market research to gather data on the target market for a new drug. Analysing: Compile the data into a spreadsheet, organising information on competitors, market size, customer demographics, and regulatory requirements.

Analysing: Use the market data to perform a SWOT analysis and segment potential customers. Applying: Identify key factors that will influence the drug's market entry and develop strategic insights.

Learning objectives

Detailed breakdown

Here's a breakdown of what's to come in the course.

Create Task

Document & Present

Reflection Task

(20 minutes)

(15 minutes)

(10 minutes)

Creating: Develop a detailed promotional plan for the new drug, outlining the target audience, marketing channels, and promotional activities. Evaluating: Estimate the budget for each promotional activity and create mock promotional materials.

Evaluating: Reflect on the entire process, identifying what was learned and areas for improvement. Understanding: Consider how the skills gained can be applied to future drug commercialisation projects, and plan for further skill development.

Creating: Compile the research, analysis, and promotional plan into a visually appealing presentation. Evaluating: Present the plan to peers or mentors for feedback, considering their input for final refinement.

Learning objectives

Conclusion

By the end of this activity, you will have developed a comprehensive promotional plan for a new drug, grounded in thorough market research and analysis. This experience will enhance your understanding of the drug commercialisation process, equipping you with the skills needed to create effective strategies in the pharmaceutical industry. Now that you're all prepped, mark this section as complete and let's make a start on the simulation module!

• Identify key market research tools for drug commercialization (e.g., IBISWorld, PubMed).
• List the steps involved in drug commercialization, such as market analysis, regulatory compliance, SWOT analysis, customer segmentation, and promotional planning.

• Use the collected data to conduct a SWOT analysis and segment potential customers based on demographics and medical needs.
• Identify key trends and patterns that will influence the drug's market entry and promotional strategy.

• Develop a comprehensive promotional plan for the new drug, including target audience, marketing channels, and specific promotional activities.
• Create mock promotional materials and compile the entire plan into a presentation for stakeholder review.

• Assess the feasibility of the drug commercialization plan based on the SWOT analysis and customer segmentation.
• Evaluate the potential effectiveness of different promotional strategies for the target audience.

• Explain the importance of market research in determining the feasibility of a new drug.
• Describe how regulatory requirements, customer demographics, and competitor analysis impact the commercialization strategy of a new drug.

• Conduct market research to gather relevant data for a hypothetical new drug.
• Compile and organise the collected data in a spreadsheet to facilitate analysis and strategic planning.