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2011/2012  KAN-CM_A118  Pharmaceutical Marketing Management

English Title
Pharmaceutical Marketing Management

Course Information

Language English
Point 7,5 ECTS (225 SAT)
Type Elective
Level Full Degree Master
Duration One Quarter
Course Period Autumn . First Quarter
Please see e-campus
Time Table Please see course schedule at e-Campus
Study Board
Study Board for MSc in Economics and Business Administration
Course Coordinator
  • Lars Grønholdt - Department of Marketing
Administrator: Yvonne Bjørkov - yb.marktg@cbs.dk
Main Category of the Course
  • Marketing
  • Corporate and Business Strategy

Taught under Open University-Taught under open university.
Last updated on 29 maj 2012
Learning Objectives
At the end of the course the student should be able to:
• Describe, classify, structure and combine concepts, theories, methods and models taught
• Identify and develop relevant issues within pharmaceutical marketing
• Analyze and synthesize specific issues within pharmaceutical marketing by using the concepts, theories, methods and models taught
• Assess and communicate problem-solving on a reflective, scientific basis
Prerequisite
It is recommended that students have a basic knowledge of theories about consumer behaviour and marketing (bachelor level). The course is especially relevant for graduate students from e.g. the EMF, MCM and IMM lines at CBS or students from other lines wanting to expand their marketing skills. All students are welcome to attend. This course is strongly recommended for students planning careers in biotechnology, pharmaceuticals, other R&D-heavy industries, management consulting etc.
Examination
Oral exam based on miniproject
Pharmaceutical Marketing Management:
Assessment Oral with Written Assignment
Marking Scale 7-step scale
Censorship Internal examiners
Exam Period Autumn Term
Aids Open Book, Written and Electronic Aid is permitted
Duration 20 Minutes

Course Content

The course will give an overview of the pharmaceutical industry and how marketing has become essential even for one of the most R&D-heavy industries. Many people – also within the pharmaceutical companies themselves - find marketing circumspect and believe pharmaceuticals should be sold on scientific merits only. However, R&D productivity has fallen and companies need to maximize return on each and every innovation just to survive. Therefore, the pharmaceutical industry is a good place to learn about recurrent as well as future challenges for marketeers, e.g:

  • How to ensure customer-focus throughout product development?
  • How to differentiate products with similar functionality?
  • How to comply with tougher and tougher regulation?

The course will provide a theoretical understanding and a practical grasp of pharmaceutical marketing and leverage the expertise that has been developed by the Danish pharmaceutical industry. During the course, participants should dissect challenging case studies and thus prepare themselves for strategic brand management issues in an international context. Key learnings include how to develop pharmaceuticals, how to launch and brand a new product, how to price, how to manage a wide array of stakeholders, as well as what other industries can learn from the pharmaceutical industry.

The course will introduce participants to the fundamentals of pharmaceutical marketing management, including for example:

  • What is the role of marketing in the pharmaceutical industry:Few industries are under such close scrutiny by authorities and consumer groups, and stakes are high and increasing; the development of a new pharmaceutical product costs 800 million USD and more often than not new product have few, functional benefits, ie. marketing makes the difference. However, many industries are experiencing the same trends and could learn from the pharmaceutical industry…
  • How are pharmaceuticals developed:Pharmaceutical products can take 10-15 years to develop and often result in products that are difficult to distinguish from competitor’s. This can of course be mediated if the marketing strategy is clear and succinct from the start and incorporated into product development!
  • Who are the customers:Purchase decisions are made by many different people, including authorities, physicians, patients, nurses, payers, patient groups etc. Therefore it is essential to understand customers and purchase factors well before a product is even developed
  • How to launch a new product:Similar to other industries, first impressions and exposure counts are important, but since pharmaceutical companies have some of the biggest budgets and sales forces of any industry the difference between success and failure of a single product can mean life or death of a company
  • How to extend the lifecycle:The pharmaceutical industry is increasingly relying on line extensions and new uses for old products to maintain sales after the first patents have expired
Teaching Methods
Lectures
Literature
  • A compendium will be developed for the course as current literature does not sufficiently cover the course material