Theoretical Approaches to the Marketing of Innovation in Biotechnology Firms: New Products for New Markets

Marketing of innovation is highly complex because the potential customers usually are unaware of the new product. In the same way, the markets as known in traditional marketing are frequently absent. The biotechnology is based on a crosssectional knowledge, which represents a particular challenge and is different from other more mature and more traditional market products. Customers and biotech markets are different from traditional products as well as their goals and needs. The studies related to behavior, tactics and influence of marketing in the process of developing a new technology product are relatively poor (Millier, 1997; Di Benedetto, 1997 and AtuaheneGima, 2000). The most cases of biotechnology refer not to a particular industry, but to crossing a set of applications with multiple characteristics, which can be used in a variety of fields, such as agriculture, pharmaceutical, information technology, environment, etc. This makes both the customers, markets, and the objectives and needs of biotechnology, different from that of any other technology or industry. ABSTRACT