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The foreign exchange market represents the direct connection between a national economy and the global environment. The smooth functioning of the foreign exchange market contributes to national financial markets increasingly establishing relationships. The increase in the number of countries that have established currency convertibility and the rapid development of telecommunication technologies have primarily encouraged the foreign exchange market to develop at an astonishing speed. The efficiency of a national economy is best seen in the foreign exchange market through the price of the domestic currency, i.e. the exchange rate. The topic of the paper is the foreign exchange market and the dinar exchange rate, with a primary focus on the functioning of exchange rates and the analysis of foreign exchange markets during global financial crises in the period 2008-2010 and during the 2019-2021 crisis caused by the Covid-19 pandemic. In addition to the analysis of these two major crises, the effects of which were reflected on the Serbian economy as a whole, the similarities and differences of their impact on the foreign exchange market in Serbia are also listed here.

Innovation emerged as a subject of major research in the second half of the twentieth century, so that researchers observe this period as the beginning of the development of innovation studies. The paper presents an analysis of relevant literature that indicates innovation as a significant factor in increasing the competitiveness of the economy. The European System of Innovation Indicators (EIS and IUS) is explained, which enables a comparable assessment of the success of innovation in EU countries, pointing out the relative strengths and weaknesses of their research and innovation systems. In this way, it helps Member States to assess areas that would be good to focus on in order to strengthen their profits in the field of innovation. The paper presents an analysis and a comparative innovation index of Slovenia, Croatia, and Serbia for 2021 according to the IUS methodology.

Trade in modern market conditions has a complex and very important role in economic and social development. In Serbia, trade and market issues are gaining importance with the beginning of the approach toward the single European market. In parallel, the first modern strategic directions in the field of market development and trade policy have been created. Trade Development Strategies of the Republic of Serbia were the basis for the preparation and enactment of trade laws. The 2019 Trade Act in a modern and comprehensive way regulates the area of trade and markets in the Republic of Serbia. However, after its adoption, a timely and intensive implementation of the created resolutions is necessary. Also, a firm commitment is needed towards future amendments to this act, as it is a very dynamic area that requires close monitoring and a full understanding of the changes that are happening in the environment. Special attention should be focused on analysing the current situation, further developments and regulating the trade of goods with the Autonomous Province of Kosovo and Metohija.

National regulations are partially harmonised with the provisions of the WHO International Code of Marketing of Breast-milk Substitutes. The WHO Code contains provisions on the necessity and manner of labeling of breast-milk substitutes and related products, the ban of marketing of breast-milk substitutes, and the necessity to promote breast-feeding. The Ministry of Health has formed a Working group for drafting the bylaws on food for infants and young children, which is currently working on solutions for completely incorporating the Code into the national legislation.

Integrating CSR principles into business activities is one of the biggest challenges of companies. Last decades, a critical attitude of the public has been expressed towards companies and their activities and concerns about natural imbalance and consequently on social problems are growing. In such conditions, the concern and awarness of consumers about the impact they can have on their environment and society as a whole, grows. Increasing the environmental awarness of the public over time, has led to the profiling of a new segment of consumers with significantly changed motives and expectations in pruchasing and consumption. It is about environmentally responsible consumers who make up a segment with distinct characteristics. The growth of such a market segment has led to a change in the company's business models. New business models are characterized by an increasing adoption of marketing principles and their incorporation into business activities. Part of such changes and trends is leading to the so-called green marketing that companies are using as a possible marketing strategy. Companies led by the concept of green marketing are characterized by the adoption of new criteria in generating inovation and positioning in the value chain. The effects of such a strategy are possible if there is cooperation of partners in the value chain who have a sense of responsibility towards the environment. In this paper, the author's intention is to identify, based on the empirical research conducted, the motives and limitations of consumers in the Republic of Serbia which trigger them or prevent them from purchasing green products. Also, the goal is to determine whether environmental concerns affect the purchase of products that are marketed as healthy. Such information will make it possible to look at the potential discrepancy between preferences and consumer behavior in the domestic market and to define the implications for developing the marketing strategy of companies in the Republic of Serbia.

To be able to effectively manage changes, the management of modern enterprises is forced to constantly create new business opportunities and respond to the challenges that arise under the influence of a number of primarily technological and market factors. It is required from company managers to understand the sources of advantage, which has become considerably more complicated than before. Only a small number of companies, especially from countries in transition, have a harmonized organization and strategies that support research demands and sustainable business and marketing strategy creation. The transformation from traditional to socially responsible marketing is imperative to the success of both economy and society. The authors highlight the role and importance of a marketing manager for company's successful transformation into the system which should create and manage market. Based on specificity of markets of countries in transition, such as Serbia, they perform the analysis of challenges of marketing practice development, confirming the hypothesis that the level of both marketing development and market orientation significantly affects business and national competitiveness, and therefore the economic and social development.

The main aim of research presented in this paper is to determine how factors related to market size influence national competitiveness of Republic of Serbia. Additional aims of this research pertain to identification of level and scope of Serbian enterprises' activities on international market and activities related to development of innovations. The rationale is the following: activities on international market, especially export, are very important for increasing the size of the market, especially in cases of small economies as Serbian. Development of innovations is one of the best strategies for achievement of these goals. Various methods have been used in this research. In order to investigate positioning of Serbia related to its overall global competitiveness and according to determinants related to its market size, authors used desk research methods. Main sources of evidence included relevant reports of World Economic Forum and other referent international institutions. In addition to this, field research was carried out in order to gather primary data relevant for providing answers to defined research questions. Research results show that Serbia has very unfavourable position according to its global competitiveness, market size, export activities and level of innovativeness. More detailed analyses show that representatives of business organizations do not fully comprehend the importance of networking with organizations and institutions from other countries, of activities on foreign markets, of innovations related to products, services and business processes. Therefore, main recommendation refers to necessity of organizational learning as basis for innovations, export activities and collaboration with organization from international surrounding in general. Finally, that would lead to increased size of the market, and global competitiveness of Serbian national economy.

In knowledge-based economy, strategic innovation portfolio management becomes more and more important and critical factor of enterprise's success. Value creation for all the participants in value chain is more successful if it is based on efficient resource allocation and improvement of innovation performances. Numerous researches have shown that companies with best position on the market found their competitiveness on efficient development and exploitation of innovations. In decision making process, enterprise's management is constantly faced with challenge to allocate resources and capabilities as efficiently as possible, in both short and long term. In this paper authors present preliminary results of realized empirical research related to strategic innovation portfolio management in ten chosen enterprises in Serbia. The structure of the paper includes the following parts: theoretical background, explanation of research purpose and methodology, discussion of the results and concluding remarks, including limitations and directions for further research.

Enterprise's competitiveness and strategic position are influenced by numerous factors. Market factors represent significant group that cause the need for developing new business models and implementing strategic shifts in business orientations of enterprises. Development of innovations and marketing capabilities are critical factors of modern enterprises' success. Theory and practice show that both innovations in marketing and marketing of innovations contribute to improving competitiveness on all levels, and also more efficient use of limited resources. This paper is structured as follows: first the competitiveness of Serbian economy is analyzed, then role of market orientation and open innovation models are explained as well as their importance for improving competitiveness. At the end, based on results of researching theory and practice of enterprises in Serbia, authors present identified relation of business performance, innovativeness and market orientation, followed by conclusions and directions for further research.

Business conditions in which modern enterprises do business are more and more complex. The complexity of the business environment is caused by activities of external and internal factors, which imposes the need for the turn in management focus. One of key turns is related to the need of adaptation and development of new business performance evaluation systems. The evaluation of marketing contribution to business performance is very important however a complex task as well. The marketing theory and practice indicates the need for developing adequate standards and systems for evaluating the efficiency of marketing decisions. The better understanding of marketing standards and ways that managers use is a very important factor that affects the efficiency of strategic decision-making. The paper presents the results of researching the way in which managers perceive and apply marketing performance measures. The data that were received through the field research sample enabled the consideration of the managers' attitudes on practical ways of implementing marketing performance measurement and identifying measures that managers imply as used mostly in business practice.

The choice of retail store location is a very complex process, with many different stakeholders having interests in both the micro and macro locations. The goal of this work is to contribute to the better understanding of the different interests of corporative and public policies in choosing retail store locations, in order to enable more efficient and effective trade network development. After having slowed down as a consequence of the global economic crisis, the retail sector is experiencing strong expansion in the markets of transitional countries. Insufficient engagement of public policy in planning trade networks can violate market competition. An active government role in carrying out the policy of retail network development in transitional countries is necessary to maintain the level of competition and prevent big market players abusing their dominant position.

It is widely accepted that only informed consumers are protected from potential violation of their consumer rights. Advertising represents one of the main ways of informing consumers, so it is of crutial importance for it to include adequate information that can facilitate decision making proces regarding the purchase. With aim of preventing violation of basic consumer rights, advertising is regulated by legislation, both on EU level and on national level in Republic of Serbia, and while so special attention is dedicated to defining advertising that can possibly lead to deception of consumers. Authors of this paper are focused on analysing legislation and theoretical explanations of deceptive advertising. Results of the research regarding advertising in Serbia and ability of consumers to protect themselves from deceptive advertising are presented. The main aim of the authors is to contribute to increasing level of consumers' self-protection through increasing level of their counciousness on deceptive advertising and its concequences.

The research on consumer behavior and the consumption system is one of the crucial tasks for destination marketing. The information on consumers' needs, priorities in satisfying them, motives, their solvency and the degree of realized satisfaction represent the basis for the development of marketing strategies and value creation. It is of special importance to identify and clarify the factors that determine consumers' preferences in the process of different options evaluation and the choice of a tourist destination. Consumer behavior and the consumption system are determined by the influence of a large number of factors: geographical, economic, demographic, social, psychological, etc. Only through simultaneous interaction of these factors, the complex processes of translating stimuli in the minds of consumers into their certain reactions in the process of purchasing and using the products could be understood.

In contemporary knowledge-based economy characterized by fast and turbulent changes, the achieved competitive advantage is much more exposed to hazards in contrast to earlier periods. Companies are forced to constantly create new business opportunities in order to respond to the challenges that are generated by the impact of numerous primarily technological and market changes. However, there is a small number of companies, with arranged organization and strategy, that support the requests for the research and creation of sustainable business and marketing strategies. The global scene conditioned by the development of new markets and developing economies requires changes in marketing approaches and strategy adaptation. The realization of superior business performances in global environment is related to the acquirement and adaption to new challenges and trends. The trend that questions the business activity of many companies is the requests for responsible behavior of enterprises in the market and acceptance of ethical, moral and environmental principles. There are more and more evident requests for aligning of business and marketing decisions with the aims of socially responsible business. The development of socially responsible marketing is the imperative of economic and social success. The authors point to the role and importance of innovation in marketing approaches, the need for enhancement of socially responsible marketing with the aim of improving its business performance and successful positioning.

Institutional changes stemming from the demands for harmonization of Serbian legal regulative with the EU regulative, reflecting in passing of the Law on the Protection of the Users of Financial Services has for the aim the increase in consumer satisfaction of these services through enhancement of delivered value. This will require certain changes that are related to improvement of value dimension for users primarily regarding quality, availability and service price. Legal regulative enables the protection of service users' rights as a weak side In contractual relations with financial institutions. Meeting the requirements stemming from the saying' informed and educated consumer is protected consumer' creates the foundation for service users, after exercising basic rights, to exercise other assumptions for achieving satisfaction. Research reveals that delivered value to users of financial services in Serbia is not still in compliance with their expectations, which has been explained in the first section of the paper. Stemming from the fact that institutional assumptions are very important for enhancing consumer protection, the authors proceed to present the critical analysis of individual regulations of the Law that consider key to expected redistribution of the impact of three basic groups of stakeholders: service users, service delivers, and agencies responsible for the control of the application of the Law. Finally, the authors have explored certain attitudes about new challenges that can limit the final outcome of the legal reform.

The complexity of business environment imposes the need for continuous change and reexamination of business marketing strategies of enterprises. Theory and practice of strategic management and marketing show that the activities of marketing, which are closely connected to corporate strategy, are the key drivers of growth. There is a positive correlation between competition intensity, marketing strategy and business performance of companies. Even though, managers of many companies don't see a clear connection between marketing strategy and business performance, numerous empirical research show that the companies which possess and efficiently use marketing resources and capabilities are more successful. In knowledge-based economics, the development of value oriented marketing strategies for all participants in the chain is a supposition of the survival, growth and development of companies. Competitive advantage is the essence of any strategy. Acquisition and maintenance of competitive advantage is more successful if the potentials for value creation are used efficiently. The paper examines the critical factors that influence alignment and transformation of marketing strategies in accordance with changes in value estimation. Superior value, is created in different network classes. Theory and practice researches create a reliable basis for the development of new concepts, marketing strategy business models that will contribute to competitive advantage of enterprises and the economy.

This paper is a result of researching the number of lettuce (Lactuca sativa L.) seed per plant in two sawing periods. The presumption was that the traits: total number of flowers and total number of flowers per head, are highly correlated and that they represent the components of seed yield. In the second sawing period the skipping of the heading phase was provoked. Skipping of the heading phase is the effect of the long day, when plants transfer to flowering phase from phase of 4-6 permanent leaves. This research aimed to investigate the decrease of the seed number depending on sowing time lettuce seed crop. Ten lettuce varieties (Nansen, Majska kraljica, Safir, Univerzal, Ravel, Atraction, Superble, Type-5140, Ljubljanska ledenka and Brauner) for total flower number and the number of flowers per flower head in two sawing periods were compared. Two-factorial trial in random block system with four replications was performed. The correlation of the two researched traits was medium (r = 0,706) without significance. Regression coefficient showed the correlation of these traits. Variance analysis showed that variance of genotype was not significant: the other factor, sowing time and interaction (genotype x sowing time) were not significant. The coefficient of phenotype variance was higher than the genetic variance coefficient for both traits.

Present day program for tomato selection are aimed at creating the genotypes with firm fruit. The fruits with this quality surfer from minor injuries while being harvested and transported, which directly affects their better consumption purpose. By crossing seven divergent tomato genotypes that differed among themselves in fruit firmness, and by applying the method of full diallel without reciprocal crossings, we obtained 21 hybrids of F1 generation. Upon analyzing the components of the genetic variance we found out that dominant genes prevailed in inheriting this feature. Considering all the crossing combinations together, it could be concluded that super dominance was the mode of inheritance recorded in Fl generation. The hybrid combination obtained by crossing the two hybrids with the best general combining ability (V-100 x No-10) was characterized by the best specific combining ability. .

Copyright of Marketing (0354-3471) is the property of SEMA - Srpsko udruzenje za Marketing i Ekonomski fakultet Beograd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Marketing (0354-3471) is the property of SEMA - Srpsko udruzenje za Marketing i Ekonomski fakultet Beograd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Marketing (0354-3471) is the property of SEMA - Srpsko udruzenje za Marketing i Ekonomski fakultet Beograd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Marketing (0354-3471) is the property of SEMA - Srpsko udruzenje za Marketing i Ekonomski fakultet Beograd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Marketing (0354-3471) is the property of SEMA - Srpsko udruzenje za Marketing i Ekonomski fakultet Beograd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)