My class has just received final results for a course we just finished titled ‘Market Analysis’ and so I wanted to write a blog detailing some information about it. This blog is mainly for those who want to see more of what my master programme involves to see if the level of interest in really there for when you apply! So it has been interesting and in my opinion one of my favourite courses and ‘easiest’ to work within. This is obviously as my interest was piqued. Grading was divided. The first aspect was a group project on a fictional product which the group is to put to market and carry out a situational analysis, strategy and time plan as well as budget. The final report was presented in front of the class and each group was assigned another group in order to give feedback on the report itself. Additionally a guest lecturer in the medical marketing field attended and gave her opinions and ideas on our projects themselves which was exciting to hear given the work we had put into the project.
Once this aspect was completed an individual assignment was completed by each student based on a real life case study. We were asked to determine why a medical device which was released to market, with great potential, failed to achieve success. In addition we had to analyze the situation and ascertain whether or not to relaunch the product, of course giving evidence to each claim. This has allowed me to think in an entirely different way about medical products released to market and just how difficult it is to target the correct market and product vision, as this can be the difference between success or failure despite the product itself being of a very high quality.
In our official student web it is stated that upon completion of the course, each student should be able to: account for central principles within market analysis and marketing and apply the most important concepts within market analysis and marketing on life the science industry.
I believe I have done just that! Hope this helped!