African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 4187

Full Length Research Paper

Market research – base of business decision making (company examples from Serbia)

Zelenović Vera1, Lukač Dragan2 and Davidović Milivoje1*
  1The Faculty of Economics in Subotica, Segedinski put 9-11, 24000 Subotica, Republic of Serbia. 2Regional Chamber of Commerce, Narodnog fronta 10, 21000 Novi Sad, Republic of Serbia.
Email: [email protected]

  •  Accepted: 29 March 2011
  •  Published: 30 June 2011

Abstract

 

Market research in developed countries is condition sine qua none business of successful companies. On the other hand, market orientation as the key mechanism of allocation of limited economic resources in the countries of transition is still in the implementation phase. This paper deals with the issues of market research in the function of business decisions, on the example of companies in the South Backa region (Republic of Serbia). The many-year transition process (it has been going on for 20 years now), the insufficiently developed market mechanisms, the problems imminent to the nature of transition – monopoles, slow decentralization and non-efficient institutional system resulted in the fact that companies are relatively slow in the implementation of modern business methods. The first part of the paper aims to define market research on theoretical-methodological level. The second part of the paper deals with the influence of research on company businesses, as well as the implementation of the research on company decision-making. The third part of the paper presents certain aspects of market research of companies in the South Backa region. The aim of the research implies the representation of market research analysis as a modern business method. The informative significance that company management attaches to market research results in the context of business decision-making has also been analyzed. The fourth part of the paper is reserved for the research results.

 

Key words: Market research, companies, business decisions, business.