The negative effects of global financial and economic crises foster the application of modern concepts of strategic management. In fact, radical changes of business environment, which are manifested by numerous discontinuities and turbulent changes of business environment, justify the implementation of significant structural changes in principles of business activities. In addition, the application of strategic management concepts, within the necessary structural changes, represents a rational analytical framework to challenges from the environment. In order to achieve distinctive competitive advantage and satisfaction of diminishing consumer demands, it is necessary to implement a comprehensive business restructuring process, to a large extent based on market restructuring. Specifically, market restructuring, which includes a series of structural changes in market orientation and marketing activities, may provide a new strategic leverage, that is, through innovation of the business portfolio, the structure of the target market and marketing mix instruments, contribute to the survival and further growth and development of numerous business entities.

Ivana Domazet, Ivan Stošić, Jovan Zubović