Nanomedical devices as a tool for consumer research

Abstract

The recent intensive technology advancements fuel innovation in every area of modern society. Nanotechnology together with biotechnology, and ICT (Information and Communication Technology) represents a technology triad that has the potential to revolutionize every aspect of our lives in the 21st Century. The unique and fundamentally different physical, chemical, electrical, mechanical and biological properties of nanomaterials from the properties of largersize bulk counterparts, enable the fabrication, characterization, and the manipulation of functional and intelligent materials, devices, and systems opening a whole new universe of the applications. In the nanotechnology industry, which is expected to reach USD 132.41 by 2023, it is crucial to adequately market a product, service, or even new technology in order to successfully position it. The environment in which businesses operate is characterized by numerous competitions, products, dynamic and rapid changes, strong technology development and increasingly demanding consumers. Consumers are at the center of marketing activities and therefore it is crucial to get to know the consumers and establish a long-term relationship with them. It can be anticipated that economic expansion will lead to the rise of the nanotechnology sector through the stimulation of consumers and industry to use a wide range of nanotechnology-enabled products. Therefore, this paper deals primarily with the analysis of how nanotechnologies affect marketing and measure consumer satisfaction that is crucial to the success of the enterprise in this industry. Nanotechnology’s influence on sustainability is presented as well.