Developing a market strategy for biotechnological products: studying the effects of product stewardship, commercialization, and innovation

Abstract

The biotechnology sector of the USA is highly demanding and requires high investments in order to ensure desired outcomes. Therefore, the firms have to generate remarkable commercialization and innovation strategies and products to worship to ensure that their products are successful in the market. For this purpose, the researcher in the current paper has analysed the impact of product stewardship, commercialization, and innovation on the marketing strategy and marketing performance of biotechnology products in the USA. The researcher collected data from professionals working within the USA biotechnology department. Uh, a survey strategy was used to collect data using structured questionnaires. The data were analysed by applying an ANOVA-based regression technique. The results indicated a positive impact of all three variables on the marketing performance of biotechnology products in the USA. Therefore, in the future, there is a need to enhance the usage of such strategies in the development of marketing plans and marketing strategies for innovative products.