Chromoband Aid Case Study

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CHALLENGES AND POSSIBLE PROBLEMS TO INTRODUCE CHROMOBAND AID INTO THE MARKET Financial challenge has always been a great obstacle in bringing forth new products into the market. Sufficient financial support is highly crucial to afford from the level of preliminary research, patent and clinical test, mass production and finally the commercialization of product into public. To ensure consistency of product research, efforts should be done by researcher to get funds or sponsorship from relevant governmental or non-governmental agencies. However, even though researchers managed to make a breakthrough that could be worth millions of dollars, it is hard enough to convince investors since they are more interested in the estimation of the biotechnological worth instead of its potential (Stewart, Allison & Johnson, 2001). Unfortunately, there is no way to tell the real worth or values of…show more content…
The concept for better improvement of living is that everybody; not only the high-income households, but also the low-income communities, can afford better healthcare as well. ChromoBand Aid is a good example of powerful medicinal item that can reach different levels of community regardless of their background and culture. With easy cultivation and production, this product is also a fusion of traditional method and modern method in wound healing mechanism for everyday comfortable use. Since Chromolaena odorata is known to be traditionally used for healing wounds among the local practitioners especially those who lived in rural areas, they can now enjoy their traditional practices in better way which focused on safety, efficacy, applicability and practicability on any occasion at any time; all-in-one product which is ChromoBand

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