Bioentrepreneurship Market Development: Bioentrepreneurship and Marketing

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Author(s): Archana Bhaskar (Guru Ghasidas Vishwavidyalaya, Bilaspur, India)
Copyright: 2021
Pages: 22
Source title: Bioentrepreneurship and Transferring Technology Into Product Development
Source Author(s)/Editor(s): Swati Agarwal (Banasthali University, India), Sonu Kumari (Banasthali University, India)and Suphiya Khan (Banasthali University, India)
DOI: 10.4018/978-1-7998-7411-9.ch008

Keywords: Business & Management / Business Science Reference / Entrepreneurship / Entrepreneurship & Innovation

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Abstract

Bioentrepreneurship is a biological entity related to sciences that creates, builds, and acquires profit to establish a business. At present, the biggest challenges for bioentrepreneurs is to stand out from their competitors. There are various function that bioentrepreneurs apply to their businesses to be unique, such as marketing. Marketing includes product development, distribution methods, sales, advertising, etc. Despite of all these efforts, entrepreneurs are still facing a problem to sell products as the consumer preference and need is changing day by day. Therefore, to succeed in business today, it is very important to develop new strategies to change the existing products in order to provide good service to the consumers and retain the business. The process taken by the company to develop the existing market is known as market development. This chapter will focus on market development and selling the product according to consumer needs.

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