Market assessment and analysis for business and science
This course recognizes the critical importance for science and technology graduate students to fully understand strategic marketing concepts (4P’s: product, pricing, promotion, placement) in the context of science and technology brands. There are two flavors of the course: IT/Digital Marketing and Life Science Marketing.
Information Technology/Digital Marketing Focus (Fall & Summer): This course is designed to help science and business students gain a solid foundation in strategic marketing concepts in a dynamic social media context. Students will learn how to develop and implement actionable marketing strategies. Special emphasis is on creating effective marketing strategies for science and technology brands. Focus on building a connected brand in a real-time marketing world where constant change is the norm.The course will focus on decision-making processes in management of the marketing mix including product planning, pricing, sales, selection of distribution channels and development of effective promotion programs. The course will include target market selection, use of marketing research (traditional and social), and brand-building strategies. Students will learn how to take advantage of data and analytics. Analytical, collaborative and presentation skills will be enhanced in a business context thorough a team project.
Life Science Focus (Spring): The course examines seven key strategic questions facing life sciences teams, including 1) What are the market boundaries for a particular drug/life sciences product? Where will it compete? Where will it not compete? 2) Which key influencers and decision makers will be targeted? 3) How will the current patient/consumer journey be impacted with the drug/product? 4) Who are the primary competitors that could threaten the drug’s/products success? 5) How will the drug/product be differentiated? 6) What is the size of the commercial opportunity for the drug/product? and 7) What are the clinical and commercial thresholds for launching the drug/product?
Read the blog article about the trip our Marketing students took to IKEA here!