Market research for creating current account balance equilibrium

Keywords:
current account balance, equilibrium, market research, export, goods, services.

Abstract:
The long-term balance of payments and current account balance could be achieved by adequate development policy and rational use of production resources. In order to improve the domestic production and export competitiveness, it is necessary to include marketing activities when creating new investment programs, using opportunities and reducing weeknesses which influence economic development. Market research precedes planning and conducting of foreign trade business activities. Also, market research provides an insight into the needs and possibilities of the market, which is a function of balancing export-import relation. When creating export business plan, it is of vital importance to be competitive in the area of pricing, quality, distribution channels, ways of payments and promotion of goods and services. According to these requests, it is necessary to carry on with the organized and continuous market research, which is crucial for defining marketing strategies to be used in export stimulation.

CITATION:

IEEE format

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N. Kordić, J. Gajić , J. Stanković, “Market research for creating current account balance equilibrium,” in Synthesis 2015 - International Scientific Conference of IT and Business-Related Research, Belgrade, Singidunum University, Serbia, 2015, pp. 594-598. doi:10.15308/Synthesis-2015-594-598

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Kordić, N., Gajić , J., Stanković, J. (2015). Market research for creating current account balance equilibrium. Paper presented at Synthesis 2015 - International Scientific Conference of IT and Business-Related Research. doi:10.15308/Synthesis-2015-594-598

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