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| The Research Behind PHARLEX® |
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The
development of PHARLEX® as an efficient alternative to the
mammoth conferences has been based on thorough market research, taking into
account experiences made by licensing and business development executives.
The result, a focused and no-nonsense partnering event, provides you with a
well-structured environment designed specifically for efficient networking
and partnership building.
During the first half
of 2002, Montalier International Ltd. conducted anonymous interviews with
126 licensing and business development executives attending various large
conferences in North America and Europe.
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Findings
As many as 91% of the
interviewees confirmed that they experience various degrees of frustration
while participating in mammoth events.
96% of the
interviewees confirmed that their fear of missing out on the action is a
more important motivator for attending such mammoth events than their actual
partnering expectations.
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Complaints
The most common complaints offered by the interviewees were:
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The conferences are too big to be effective |
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There are too many non-licensing people attending |
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Participants are too busy running around trying to find someone |
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Everyone seems to be chasing the same few companies |
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The large number of people and companies is causing information overload |
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The competition for attention is aggravating |
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Attendees are treated as numbers in a queue and are left to themselves |
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The efforts in advance of the congress to contact and to schedule individual meetings are extremely time-consuming and exasperating |
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Efficacy and Impact
When asked to compare
the efficacy and the potential impact of lecture-type presentations made to
mixed audiences, as compared with one-to-one, face-to-face meetings, 92% of
the executives rated the latter type of encounters the highest. On a scale
from 1-10, where 10 represents the highest degree of efficacy and impact,
the lecture type presentations scored an average of 4.6, while the
one-to-one, face-to-face meetings scored an average of 8.7.
It might be worth
noting that many interviewees emphasized the importance of targeting, even
though it was not a part of this particular question. We interpret that to
confirm the significance of a selection process allowing participants to
make pre-informed, qualified decisions with regards to who they will be
meeting with or talking to.
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Web-Based Licensing
Another interesting
finding was, much to our surprise, that as many as 84% of the interviewees
responded that they did not believe in, or that they had negative
experiences with, web-based licensing marketplaces and various online
submission procedures that many pharma companies have developed.
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Alternatives
When asked to suggest
alternatives that may improve their chances of success, a vast majority
(95%) of the interviewees offered one or more recommendations that are
summarized below:
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Smaller events offering transparency, ie. you know who is there and you have a chance of getting to know many of them |
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Specific admittance criteria, ie. only executives with legitimate licensing objectives |
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Formalized and effective pre-event processes, ie. allowing information to be shared, selection of companies to meet with and unbiased,
optimal scheduling of meetings |
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A personable and "intimate" setting, ie. encouraging development of relationships |
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Personal Contacts
Absolutely everyone
interviewed confirmed the opinion that there is a clear correlation between
success in licensing and personal contacts. This supports the view that
business is conducted between people and not between companies.
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Earlier Research
These interviews
verified the findings that were made in a more informal market research
project, conducted one year earlier, while the PHARLEX®
concept was developed. It was indeed very encouraging to confirm that we are
on the right track.
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Structure and Focus
The main objective of
Montalier International Ltd. was to organize the most efficient partnering
event in North America. The final result is an event that is different from
most others.
What we have done is
to listen to the executives who are facing daily the challenges of
partnership building. On that basis, we designed a highly efficient and
effective alternative to the mammoth congresses. PHARLEX®
offers a structured and focused approach to partnership building that few
other events can match.
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Requirements
By carefully assessing
the submitted registrations to ensure that only executives with legitimate
licensing objectives are admitted, we can achieve a unique and highly
focused event with people that are all there for the same reasons and with
the same objectives - namely to establish the professional contact and the
initial discussions that constitute the universal basis for successful
partnership deals.
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Expectations
As the organizers, we
feel confident that PHARLEX® meets the expectations of
most business development and licensing executives. |
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