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The Analysis of Local Marketplace Business on the Selected Urban Case—Problems and Perspectives

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  • Marko D. Petrović

    (Geographical Institute “Jovan Cvijić” of the Serbian Academy of Sciences and Arts, 11000 Belgrade, Serbia
    Institute of Sports, Tourism and Service, South Ural State University, 454080 Chelyabinsk, Russia)

  • Edna Ledesma

    (Department of Planning and Landscape Architecture, University of Wisconsin-Madison, Madison, WI 53706, USA)

  • Alfonso Morales

    (Department of Planning and Landscape Architecture, University of Wisconsin-Madison, Madison, WI 53706, USA)

  • Milan M. Radovanović

    (Geographical Institute “Jovan Cvijić” of the Serbian Academy of Sciences and Arts, 11000 Belgrade, Serbia
    Institute of Sports, Tourism and Service, South Ural State University, 454080 Chelyabinsk, Russia)

  • Stefan Denda

    (Geographical Institute “Jovan Cvijić” of the Serbian Academy of Sciences and Arts, 11000 Belgrade, Serbia)

Abstract

Local marketplaces and street vendors represent an important segment of trade in a community and one of the initiators of the rural and peri-urban development. Agricultural and other products available at marketplaces and street vendors very often originate from a wider urban surrounding or nearby villages, so both are also an important factor of the daily migrations, exchange of goods, services, and money on the relation suburb-downtown and village-town/city. This study aims to analyze the social segments of the organization and operation of marketplaces, to provide an insight into the contemporary market processes and decision-making, and also to illustrate the future tendencies of the market outcomes of this aspect of the business. Using qualitative data processing, the results of one of the first empirical research on this topic in Serbia and this part of Europe will be analyzed. The results will show the economic, social, and cultural impact that marketplaces have on people’s everyday life and the economy of Serbia, along with defining future development guidelines. Besides, the findings of this research may be used by local authorities, the economy, and communities for future strategic development planning of this market segment. The outcomes may have an impact on future research of other aspects of marketplaces depending on the difference of regions, on one side, and also alternative opportunities for local development in less-advantaged communities, on the other side. Moreover, this contributes to the identification of the differences in the marketplace business management and sheds light on future initiatives for the encouragement of this local/global process.

Suggested Citation

  • Marko D. Petrović & Edna Ledesma & Alfonso Morales & Milan M. Radovanović & Stefan Denda, 2021. "The Analysis of Local Marketplace Business on the Selected Urban Case—Problems and Perspectives," Sustainability, MDPI, vol. 13(6), pages 1-15, March.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:6:p:3446-:d:520842
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    References listed on IDEAS

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    Cited by:

    1. Nikola Vuksanović & Dunja Demirović Bajrami & Marko D. Petrović & Milan M. Radovanović & Slavica Malinović-Milićević & Adriana Radosavac & Valentina Obradović & Maja Ergović Ravančić, 2024. "The Role of Culinary Tourism in Local Marketplace Business—New Outlook in the Selected Developing Area," Agriculture, MDPI, vol. 14(1), pages 1-20, January.

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