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Database Marketing Based Business Development – The Case of Serbian Financial Sector

In: Contemporary Issues in the Integration Processes of Western Balkan Countries in the European Union

Author

Listed:
  • Ivana Domazet

    (Institute of Economic Sciences)

  • Jovan Zubovic

    (Institute of Economic Sciences)

Abstract

In this paper the authors have discussed on the importance of database marketing and analyzed the level of its development in Serbia. A need to store large amounts of data necessary for making business decisions is the main reason for introduction of information technology, and building information systems and databases in the modern enterprises. To become successful in competitive markets, companies must use databases as a starting point in formulating their marketing campaigns. Information from databases enables companies to optimally adapt all marketing mix elements, increase sales and market share, as well as to improve profitability. In accordance with those assumptions there has been conducted an empirical research in the financial sector in Serbia to determine the level of development of databases and CRM systems. Research results show that in Serbian financial sector, unlike in the rest of the economy, database marketing is very developed and it is following the global trends.

Suggested Citation

  • Ivana Domazet & Jovan Zubovic, 2011. "Database Marketing Based Business Development – The Case of Serbian Financial Sector," Book Chapters, in: Stefan Bogdan Salej & Dejan Eric & Srdjan Redzepagic & Ivan Stosic (ed.), Contemporary Issues in the Integration Processes of Western Balkan Countries in the European Union, chapter 24, pages 389-404, Institute of Economic Sciences.
    • Handle: RePEc:ibg:chaptr:conissue-24
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