SCBMA2_ Week 3 2025

Eduvos Overview

• Institution: Eduvos

• Course: Biopharmaceutical Sales & Marketing

• Course Code: SCBMA2

Disclaimer on Learning Materials

• Content on myLMS may vary slightly from what is presented in lecturer-led sessions.

• It is essential for students to consult both myLMS materials and prescribed textbooks to prepare for assessments.

Learning Approach: Flipped Classroom

• Emphasis on revising concepts prior to lecturer-led sessions.

• Students participate in self-study via myLMS to enhance understanding.

• Structure of sessions:

  • Before the session: Students complete activities and prepare questions for discussions.

  • During the session: Engaging in active learning—students ask questions, debate topics, and work on technical aspects. Focus on higher-order thinking activities.

Market Characteristics

• Sizable market: Potential for growth.

• Growing demand: Opportunities present for new entrants.

• Competitor landscape: Moderate competition allows new firms to establish themselves.

• Resource accessibility: Firms should utilize available resources to compete effectively.

Discussion Forum Activity

• Compare two pharmaceutical products:

  • One with a niche audience.

  • One targeting a broad market.

• Description should cover target markets and competitors (6-8 sentences each).

Preparatory Activities

• Recap previous myLMS activities to prepare for upcoming discussions in the lecture.

Session Agenda

• Topics to cover:

  • SWOT Analysis

  • Selecting a Target Market

  • Pricing Strategy

  • Creating Product Solutions

  • Evolution of the Marketing Concept

SWOT Analysis Overview

• Purpose: Evaluate strengths, weaknesses, opportunities, and threats of a business.

• Executed by marketing managers and product teams.

Strengths and Weaknesses

• Strengths: Internal characteristics of the company and product.

• Weaknesses: Areas needing improvement.

Opportunities and Threats

• Opportunities: Identifies buyer needs that can be financially beneficial.

• Threats: External factors that may negatively impact sales.

Practical Group Activity

• Conduct a SWOT analysis for a hypothetical start-up pharmaceutical company focusing on developing a unique drug for dry cough.

  • Activity Duration: 10 minutes for setup, 15 minutes for discussion.

Pricing Discussion

• Groups discuss a specific discount type provided by the lecturer and give examples.

  • Activity Duration: 10 minutes for completion, 15 minutes for group discussion.

Additional Discussion Forum Activity

• Find a fast-food restaurant menu to compare bundle meal pricing against individual item prices.

• Consider consumer psychology regarding purchases of bundles.

Product Strategy Importance

• A well-defined product strategy focuses on product benefits and value added solutions.

• Key elements:

  • Product experts should make informed decisions regarding product selection and positioning.

Becoming a Product Expert

• Four key categories:

  1. Product development and quality improvement processes.

  2. Performance data and specifications.

  3. Maintenance and service contracts.

  4. Pricing and delivery.

• Consideration of company culture and support when becoming an expert.

Sales Presentation Guidelines

• Avoid discussions about competitors during sales meetings.

• Focus on adding value rather than negative comparisons.

Sources of Product Information

• Gathering a wide range of information from:

  • Product literature, catalogs, web sources.

  • Internal team members.

  • Client feedback.

Marketing Concept Fundamentals

• Principles to achieve goals are rooted in understanding customer needs and effectively delivering products.

• A focus on customer satisfaction is essential to the company’s philosophy.

Evolution of Marketing

• Discussion of historical perspectives and changes in marketing approaches, particularly within the pharmaceutical sector.

Upcoming Learning Tasks

• Prepare for Week 4 by reviewing Lessons 16-20.

• Complete all pre-class activities to ensure readiness for the next lecturer-led session.