Materials Needed
Market research tools
Spreadsheet software
Document editing software
Presentation software
Computer with internet access
(e.g. IBISWorld, PubMed)
(e.g. Microsoft Word, Google Docs)
(e.g. Microsoft Excel, Google Sheets)
(e.g. PowerPoint, Google Slides)
Simulation
As a reminder, below are the steps we're going to take in order to complete the simulation. These timings are just for guidance, so there is no pressure to finish before or after the time is up!
If you're ready, click the start button below to get going!
Preparation Task (10 minutes)
Research Task (30 minutes)
Analysis Task (30 minutes)
Create Task (20 minutes)
Document and Present (15 minutes)
Reflection Task (10 minutes)
Expected Outcome
Simulation
PREPaRAtion task
Gain a foundational understanding of the drug commercialisation process.
Read an Article or Watch a Video: Review the following brief article about the essential steps of drug commercialisation, such as market analysis, regulatory pathways, pricing strategies, and promotional planning in the pharmaceutical industry:
Read article
Simulation
research task
Conduct thorough market research to assess opportunities and challenges for a hypothetical new drug.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Market Analysis
Regulatory Landscape
Data Compilation
Market Reports
Use available market research tools to collect data on the target market for a new drug (e.g. a novel immunotherapy). Investigate competitors, market size, pricing trends, and customer demographics (e.g. healthcare providers, patients).
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Research the regulatory requirements for bringing the drug to market. Focus on guidelines from relevant authorities such as the FDA, EMA, or the MHRA.
Organise the gathered information into a spreadsheet for easier reference and analysis.
Simulation
Analysis Task
Analyse the market data to create a viable strategy for commercialising the drug.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Market Reports
SWOT Analysis
Customer Segmentation
Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis based on your market research. Consider key factors like regulatory challenges, market needs, and competitive advantages.
Break down the potential market into key segments based on patient needs, healthcare provider preferences, or insurance coverage. Identify the most promising segments for targeting the drug.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Simulation
Create Task
Develop a detailed promotional plan for the drug based on your analysis.
Promotional Strategy: Create a detailed promotional strategy that includes the following elements:
Promotional Activities: Outline specific promotional activities such as educational webinars, free samples to healthcare providers, and social media campaigns.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Market Reports
Market Reports
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
- Target Audience: Define the primary and secondary target audiences. - Marketing Channels: Identify the most effective channels for reaching the target audience (e.g., online advertising, healthcare conferences).
- Budget Allocation: Estimate the budget for each activity. - Mock Promotional Materials: Develop basic mockups of key promotional materials such as brochures, social media posts, or email newsletters.
Simulation
Document and Present
Summarise your findings and promotional plan in a professional presentation for stakeholders.
Compile Documentation: Use presentation software to create a concise and visually appealing presentation summarising the market research, analysis, and promotional plan.
Simulation
Reflection Task
Reflect on the entire process and identify key takeaways for future drug commercialisation efforts.
Reflect
Future Application
Write a brief reflection on what you learned during the simulation, highlighting the most challenging and rewarding aspects.
Consider how these new skills can be applied to real-world drug commercialisation projects and identify areas for further development.
Simulation
Expected outcome
Expected Outcome
By the end of this simulation, you will have developed a comprehensive promotional plan for a new drug, based on detailed market research and analysis. This exercise will enhance your understanding of the drug commercialisation process and strengthen your ability to craft effective marketing strategies within the pharmaceutical industry.
SFU-018 - Module 3 (Simulation)
Springpod Team
Created on September 17, 2024
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Transcript
Materials Needed
Market research tools
Spreadsheet software
Document editing software
Presentation software
Computer with internet access
(e.g. IBISWorld, PubMed)
(e.g. Microsoft Word, Google Docs)
(e.g. Microsoft Excel, Google Sheets)
(e.g. PowerPoint, Google Slides)
Simulation
As a reminder, below are the steps we're going to take in order to complete the simulation. These timings are just for guidance, so there is no pressure to finish before or after the time is up!
If you're ready, click the start button below to get going!
Preparation Task (10 minutes)
Research Task (30 minutes)
Analysis Task (30 minutes)
Create Task (20 minutes)
Document and Present (15 minutes)
Reflection Task (10 minutes)
Expected Outcome
Simulation
PREPaRAtion task
Gain a foundational understanding of the drug commercialisation process.
Read an Article or Watch a Video: Review the following brief article about the essential steps of drug commercialisation, such as market analysis, regulatory pathways, pricing strategies, and promotional planning in the pharmaceutical industry:
Read article
Simulation
research task
Conduct thorough market research to assess opportunities and challenges for a hypothetical new drug.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Market Analysis
Regulatory Landscape
Data Compilation
Market Reports
Use available market research tools to collect data on the target market for a new drug (e.g. a novel immunotherapy). Investigate competitors, market size, pricing trends, and customer demographics (e.g. healthcare providers, patients).
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Research the regulatory requirements for bringing the drug to market. Focus on guidelines from relevant authorities such as the FDA, EMA, or the MHRA.
Organise the gathered information into a spreadsheet for easier reference and analysis.
Simulation
Analysis Task
Analyse the market data to create a viable strategy for commercialising the drug.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Market Reports
SWOT Analysis
Customer Segmentation
Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis based on your market research. Consider key factors like regulatory challenges, market needs, and competitive advantages.
Break down the potential market into key segments based on patient needs, healthcare provider preferences, or insurance coverage. Identify the most promising segments for targeting the drug.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Simulation
Create Task
Develop a detailed promotional plan for the drug based on your analysis.
Promotional Strategy: Create a detailed promotional strategy that includes the following elements:
Promotional Activities: Outline specific promotional activities such as educational webinars, free samples to healthcare providers, and social media campaigns.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Market Reports
Market Reports
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
Search for recent market reports, articles, or statistics related to your chosen market segment. Use sources like Statista, Nielsen, or industry-specific publications.
- Target Audience: Define the primary and secondary target audiences. - Marketing Channels: Identify the most effective channels for reaching the target audience (e.g., online advertising, healthcare conferences).
- Budget Allocation: Estimate the budget for each activity. - Mock Promotional Materials: Develop basic mockups of key promotional materials such as brochures, social media posts, or email newsletters.
Simulation
Document and Present
Summarise your findings and promotional plan in a professional presentation for stakeholders.
Compile Documentation: Use presentation software to create a concise and visually appealing presentation summarising the market research, analysis, and promotional plan.
Simulation
Reflection Task
Reflect on the entire process and identify key takeaways for future drug commercialisation efforts.
Reflect
Future Application
Write a brief reflection on what you learned during the simulation, highlighting the most challenging and rewarding aspects.
Consider how these new skills can be applied to real-world drug commercialisation projects and identify areas for further development.
Simulation
Expected outcome
Expected Outcome
By the end of this simulation, you will have developed a comprehensive promotional plan for a new drug, based on detailed market research and analysis. This exercise will enhance your understanding of the drug commercialisation process and strengthen your ability to craft effective marketing strategies within the pharmaceutical industry.