Marketing the Technology

Abstract

For small biotechnology companies to survive, they must be able to market their products quickly and effectively in order to acquire revenue. Failure rates among startup companies, especially biotechnology startups, is around 90%. Therefore, young companies that have made it as far as producing products, such as human diagnostic assays, are increasingly using a two stage marketing procedure to generate much needed revenues. These two market segments are generally called the “For Research Use Only,” and “For in vitro Diagnostic Use” segments. These markets are further broken down into a large number of segments, each with varying market potential for biotechnology companies.