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February 2009
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We invite you to join GfK Healthcare March 8-10 in Las Vegas at the Pharmaceutical Marketing Research Group’s Annual National Conference (ANC), Maximizing Brand Potential in a Volatile Marketplace. The event promises to be an engaging exploration of the increasing pressure placed upon marketing researchers to maximize their research dollars and overall potential.
On Monday, March 9 at 12:45 p.m., Richard B. Vanderveer, Ph.D., CEO of GfK Healthcare, will examine this volatility more closely and present the following workshop:
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Historically, those in the pharmaceutical marketplace considered themselves, because of the nature of the products they provided, mostly insulated from the vagaries of the larger economy. “People will always get sick and need our products, regardless of economic conditions,” they observed as pharmaceutical companies, even as the agencies that serviced the industry in fields such as marketing research continued to experience double-digit growth during good times and bad. Times are changing, however.
As Dr. Vanderveer’s workshop will point out, there is a perfect storm brewing in which the confluence of bad times in the pharmaceutical industry and horrible times in the world economy come together with potentially disastrous results for those on both sides of the table in pharmaceutical marketing research. In response to this situation, this session will discuss three strategic directions that marketing research companies will take, which in turn will impact the marketing researchers sitting on the client side of the table.
The three strategic directions include:
- Stop wasting money
- Proactively seek out business
- Diversification into other areas of health care
This session is important for both clients and agency representatives to attend. Since a failure to form a true partnership between these two sides of the table will inherently result in "the perfect storm" in pharmaceutical marketing research in the future, it is more important than ever for both sides to understand the strategies being pursued by the other, and to work toward maximizing the areas where these strategies overlap to increase synergies in times of scarce resources. Key takeaways from this presentation will be:
- An understanding by clients and agency personnel alike that pharmaceutical marketing research budgets have declined substantially, and are not likely to rebound.
- That it is in the best interest of client and agency alike to have agencies adapt to this new reality, rather than simply to role over and play dead.
- That their cooperation and shared vision will be required from client and agency alike to make this metamorphosis into a win-win situation.
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We encourage you to take a look at the full conference program and consider joining GfK Healthcare and hundreds of other industry colleagues at the PMRG 2008 Annual National Conference.
The PMRG Annual National Conference
March 8-10, 2009
Las Vegas, NV
Click here for the full conference agenda
Representing the GfK Healthcare at PMRG:
, Chief Executive Officer
, President & Chief Operating Officer
, Senior Vice President
, Associate Vice President
, Associate Vice President
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The Perfect Storm in Pharmaceutical Marketing Research: GfK's Workshop at the PMRG 2009 ANC, Monday, March 9