Commercializing and Marketing the Concept of Cord Blood Stem Cells Preservation through Public Private Partnership Model (PPP)
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The medical technology has transformed into a greater pinnacle and changed the way the diseases are diagnosed and treated. The recent innovation is preservation and the use of cord blood stem cells to cure incurable/difficult to cure diseases. The awareness is minimal and overshadowed with myths and misconceptions. Approach: A survey was conducted -to ascertain people’s awareness and preparedness concerning Stem Cells Preservation; -formulate marketing strategies to diffuse the innovation and -devising unique PPP model. Results: the assessment unearthed various myths; cost, utility and trust factors were prominent. Conclusions / Recommendations: the diffusion of innovation requires marketing techniques to reach and persuade people. The PPP model provides infrastructure, technology, professional management, reduces medical expenditure and augments affordability.