caused by the competition in the personalized medicine concept implementation.
Therefore, the link between the market demand and applications of granted patent
in technology fields significant for personalized medicine approach can be seen in
Table 3.
The process of technology transfer in the health care systems has a significant
influence on national economies, as well as on the global economy. Technology
transfer concept in biomedicine caused the formation of new products and pro-
cesses in the fields of pharmaceuticals and biotechnology. Therefore, the number of
newly granted patents in the fields of pharmaceuticals and biotechnology is causally
related to the new market development.
3 Role of Marketing in Personalized Medicine Concept
Marketing as a dynamic and complex modern phenomenon is not easy to define.
Thus, it is not surprising that there is still no universally accepted definition of
marketing. Usually, people who are not professionally involved in marketing
confuse marketing with selling and advertising. Although important, these are not
the only functions of marketing. Marketing begins long before the certain product is
produced. Managers, when considering their marketing activities, base on market
conditions, consumers’needs and desires, the scope and intensity of the identified
needs, competition, and potential profit estimates. Also, marketing activities will
continue during the whole product, by making it attractive for both existing
customers and new customers.
Customer satisfaction with a certain product or service is a measure of its
expectations. If in the process of buying and using the product the consumer gets
what he expects, he is satisfied, and the opposite. The most successful companies
want to delight customers by promising only what they can actually provide and
then try to give more than they promised.
According to Philip Kotler, in order to have an effective exchange, it is necessary
to realize the following five conditions: there must be at least two parties, each party
should have something valuable for another party, each party should be able to
communicate and deliver, each party should be able to accept or reject what is
traded, and each side should believe it is appropriate and desirable to carry out the
work with the other side.^3
As a business policy, marketing puts consumers in focus in order to perceive
their needs and to create and deliver values and satisfaction to customers better than
the competition. The main benefit of marketing is the rational use of the limited
resources for production and services that the market demands based on the
consumers’needs and desires. The placement of such products and services is
(^3) For various definitions of these terms, see, e.g., Kotler ( 2000 ) and Kotler and Armstrong ( 1996 ).
100 P. Karanikic