Wednesday, February 12, 2020

Biohacking in the mass market Essay Example | Topics and Well Written Essays - 3000 words

Biohacking in the mass market - Essay Example This hacking ethic has resurfaced again in garages, kitchens and closets all throughout the world. In this modern world, the practice of soldering circuit boards and programming in FORTRAN has been replaced with splicing DNA and cloning bacteria. These practices in particular are referred to, what is called in today’s world, as bio-hacking. Bio-hackers involved with this practice, manipulate the building blocks of life thereby advancing knowledge and creating new life forms with novel purposes. As has been witnessed in the past few decades, computer hacker movement sparked a revolution in the field of computer science and information technology. The revolution increased the pace at which technology had progressed thereby permanently changing the societal landscape. Similarly, it is expected that the bio-hacker movement or rather the practice of bio-hacking will have a parallel effect on the technologies solely based on biology. These changes will not only bring about a massive development in the field of science but will also fundamentally alter human experience itself. The pioneers of this regime shift would be today’s bio-hackers. ... This is primarily because with proper information more and more people will gain expertise about this product and eventually will be able to make an informed decision regarding their usage and utility (Alba and Hutchinson, 1987). The underlying idea of this business is to distribute and install the body modifications using an agreement with a chain of tattoo studios. The product that will be offered to customers is magnetic implant which is another form of body piercing. According to Brownlie and Saren (1991, p. 35), â€Å"the marketing concept defines basic benchmarks against which marketing practice, i.e. what organizations can be judged.† In order to make a successful business venture, all those benchmarks need to be met. The result of these actions can be easily measured by the market share and profitability that the business will achieve, once it has fully implemented all the marketing strategies. One of the primary drawbacks related to this business approach is that it i s a completely unexplored area and henceforth it is going to be comparatively difficult for the owner to assess the risk associated with every operation. In addition to that, the pricing of the product will be a cause of concern as there is no relative market to compare the prices in order to set it accordingly. There is a potential failure associated with the pricing of the product. If the product is priced too high, then it will trigger a negative signal within the target market and as a result, the consumers might choose to refrain from availing products from this entity. Furthermore, another cause of failure that can be attributed to this business approach is the potential side

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