• Žaklina Stojanović, PhD Faculty of Economics, University of Belgrade
  • Mirjana Gligorijević, PhD Faculty of Economics, University of Belgrade
  • Tatjana Rakonjac-Antić, PhD Faculty of Economics, University of Belgrade


Specialization of agricultural production is closely associated with increased risk. Insurance is often used as a method of transferring risk from a farmer to an insurance company. The development of modern agriculture requires widening the scope of insurance coverage. Therefore, the paper analyzes the possibility of adjusting insurance offers to the specific needs in agriculture sector with the aim of increasing the number of insured business entities. First, it is necessary to properly defne the marketing mix in agricultural insurance. Second, it is equally important to permanently measure effectiveness and legitimacy of its application. Importance of the most commonly used indicator - the Return on Marketing Investment Coeffcient (ROMI), is underlined.


Download data is not yet available.


1. Ahsan, S. M., Ali, A., Kurian, N. (1982): Toward a Theory of Agricultural Insurance, American Journal of Agricultural Economics 64 (3), pp. 520-529.
2. Enjolras G., Sentis P. (2011). Crop insurance policies and purchases in France, Agricultural Economics No. 42, pp. 475–486.
3. Farris, P. W., Bendle N. T., Pfeifer P. E., Reibstein, D. J. (2010): Marketing Metrics: The Defnitive Guide to Measuring Marketing Performance, Pearson Education, New Jersey.
4. McGovern, G., Quelch, J. A. (2007): Measuring Marketing Performance, Harvard business review, Boston.
5. Galeski, B., Wilkening, E. (1987): Family Farming in Europe and America, West-view Press, Boulder.
6. Gligorijević, M. (2012): Poslovni marketing, CID, Ekonomski fakultet Beograd.
7. Glauber, W. J. (2004): Crop Insurance Reconsidered, American Journal of Agricultural Economics 86n (5), p. 1179–1195.
8. Goodwin, B. K. (2001): Problems with Market Insurance in Agriculture, American Journal of Agricultural Economics, 83 (3), p. 643-649.
9. Hardaker, J. B., Huirne, R. B. M., Anderson, J. R. (1997): Cooping with Risk in Agriculture, CABI Publishing, Wallingford, Oxon.
10. Kočović, J., Šulejić, P., Rakonjac-Antić, T. (2010): Osiguranje, CID, Ekonomski fakultet, Beograd.
11. Kotler, P., Keler, K. L. (2009): Marketing Management, Pearson Education, London.
12. Labudović Stanković, Lj., Todorović, N. (2011): Osiguranje biljne proizvodnje u EU I Srbiji, Ekonomika poljoprivrede, IEP Beograd, Vol. 58, No. 4, p. 723-734.
13. Lilien, G., Kotler, P., Moorthy, K. S. (1992): Marketing Models, Prentice Hall, Englewood Cliffs, N. J.
14. Lenskold, J. (2003): Marketing ROI: The Path to Campaign, Customer and Corporate Proftability, McGraw-Hill, New York.
15. Milanović Golubović, V. (2006): Novi koncept marketinga u agrobiznisu, Ekonomika poljoprivrede, IEP Beograd, Vol. 53, no 3, p. 543-560.
16. Miranda, M., Vedenov, V. D. (2001): Innovations in Agricultural and Natural Disasters Insurance, American Journal of Agricultural Economics, 83 (3), p. 650-655.
17. Myers, R. J. (1987): Econometric testing for risk averse behaviour in agriculture? Applied Economics 21, p. 541-552.
18. Nelson, C. H., Loehman, E. T. (1987): Further Toward a Theory of Agricultural Insurance, American Journal of Agricultural Economics, August 1987, p. 523-531.
19. O’Donoghue, J. E., Roberts, M. J., Key1, N. (2009): Did the Federal Crop Insurance Reform Act Alter Farm Enterprise Diversifcation?, Journal of Agricultural Economics, Vol. 60, No. 1, p. 80–104.
20. Pejanović, R. (2006): Rizik i osiguranje u (poljo)privredi, Poslovna politika 35 (5), str. 12-17.
21. Powell, G. (2003): Return on Marketing Investment: Demand More from Your Marketing and Sales Investments, RPI Press, Atlanta.
22. Sherick, B., Barry, P., Schnitkey, G, Ellinger, P., Wansink, B. (2003): Farmers Preferences for Crop Insurance Attributes, Review of Agricultural Economics, 25, p. 415-429.
23. Shaw, R., Mazur, L. (1997): Marketing Accountability, Financial Times, Retail & Consumer Publishing, London.
24. Strange, M. (1988): Family Farming – a New Economic Visions, Lincoln, Neb.: University of Nebraska Press, San Francisco.
25. Vogeler, I. (1985): The Myth of the Family Farm – Agribusiness Dominance in U.S. Agriculture, West-view Press, Boulder.
26. Vračar, D. (1991): Marketing u osiguranju, u red. Milisavljević, M., Marketing uslužnih delatnosti, CID, Ekonomski fakultet, Beograd.
27. Zakić, Z., Stojanović, Ž. (2008): Ekonomika agrara, CID, Ekonomski fakultet Beograd.
How to Cite
STOJANOVIĆ, Žaklina; GLIGORIJEVIĆ, Mirjana; RAKONJAC-ANTIĆ, Tatjana. THE ROLE OF THE MARKETING MIX IN THE IMPROVEMENT OF AGRICULTURAL INSURANCE. Economics of Agriculture, [S.l.], v. 59, n. 4, p. 769-780, dec. 2012. ISSN 2334-8453. Available at: <>. Date accessed: 22 oct. 2020.