New Market Segmentation Knowledge in the Function of Bioeconomy Development in Serbia

Nenad Djokic, Aleksandar Grubor, Nikola Milicevic and Viktorija Petrov
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Nenad Djokic: University of Novi Sad, Faculty of Economics in Subotica, Subotica, Serbia
Aleksandar Grubor: University of Novi Sad, Faculty of Economics in Subotica, Subotica, Serbia
Nikola Milicevic: University of Novi Sad, Faculty of Economics in Subotica, Subotica, Serbia
Viktorija Petrov: University of Novi Sad, Faculty of Economics in Subotica, Subotica, Serbia

The AMFITEATRU ECONOMIC journal, 2018, vol. 20, issue 49, 700

Abstract: Sustainability of companies in modern market conditions greately depends on the knowledge. In order to improve their business processes and satisfy the needs of their customers, managers have to rely on new marketing knowledge, especially in new sectors such as bioeconomy. The aim of this paper is to investigate potential added value to Serbian organic food market segmentation researches (belonging to preconditions of further bioeconomy development) when implementing new marketing knowledge – food-related lifestyle market segmentation and scales’ testings. The results point out to adventurous consumers as the most important current and future market for organic food. Besides being the most educated (what was already established for consumers accepting organic food well in previous domestic researches), it is the first time that consumers accepting organic food in larger extent are brought in connection to their inclusion of the whole family in the preparation of meals and acceptance of novelties in cooking. It is also the first time to identify that there is a segment in domestic conditions for which price is not the greatest obstacle for increasing organic food consumption. That can be of the great importance for all actors (both national and foreign) operating at domestic food market.

Keywords: knowledge marketing; market segmenetation; food-related lifestyle market segmentation; scales’ testing; bioeconomy; organic food market; Serbia. (search for similar items in EconPapers)
JEL-codes: D8 M31 Q13 Q57 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:aes:amfeco:v:20:y:2018:i:49:p:700

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