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Milo Lompar Ph.D., professor of the University of Belgrade Faculty of Philology

Revolt, Rebellion & Transitional Government

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H.E. Ahmed Hatem Almenhali, Ambassador of the United Arab Emirates to the Republic of Serbia

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Towards the end of Q1 2025, the...

Takashi Shimizu, Representative Director, President and CEO, Toyo Tire Corporation

Serbia is a Key Hub of Japanese Industry

Our choice of Serbia has proven correct,...

H.E. Akira Imamura, Ambassador of Japan to Serbia

A Glimpse Into the Future

Under the main theme of “Designing Future...

News

European Motorcycle Sales Surge in 2024

In 2024, Europe's five largest motorcycle markets saw a notable increase in sales, fueled by the demand for urban...

A New Front in the Trade War

President Donald Trump’s decision to impose 25% tariffs on steel and aluminum imports is stirring fresh tensions, particularly with...

Austrian Business Cooperation in Serbia

The annual survey by Advantage Austria on the business climate in Serbia for 2024 confirms the stability and growth...

The Hermitage Days are Being Held Again in Belgrade in 2025

The Hermitage Days in Serbia represent a unique international cultural project that will take place from February 19 to...

Djokovic into Australian Open Semifinals After Victory Over Alcaraz

The best Serbian tennis player, Novak Djokovic, secured his place in the Australian Open semifinals after an incredibly thrilling...

Dr Galjina Ognjanov, professor at the Faculty of Economics, University of Belgrade

Traditional Media Is Irreplaceable

The rise and rapid expansion of digital media alternatives, and the fact that they serve as the primary communication channel for younger generations, particularly Gen Z, have sparked debate over the future of traditional media. Personally, I have no doubt about this: traditional media is irreplaceable, while new digital media has also become an integral part of the modern media landscape ~ Dr Galjina Ognjanov

The development of new technologies and media has brought tremendous changes in the way we consume and interact with content, explains Dr Ognjanov, speaking in this exclusive interview for CorD Magazine.

“For decades, advertisers and marketing strategists have faced the challenges of media expansion and fragmentation. With the emergence of interactive and digital media at the beginning of this century, capturing the attention of audiences for marketing messages has become even more difficult. While theory suggested it, practice has proven that the most effective approach so far has been media integration. This means strategically combining different media – both traditional and digital – to achieve what we call the ‘synergy effect’.

Successful brands carefully leverage different communication channels, adapting to the preferences of their existing and potential customers by offering content that aligns with their media consumption habits. As a result, it is now common for a brand to first gain public attention in the digital space, prompting traditional media to start reporting on it -or vice versa, where traditional media outlets initiate a conversation that later expands to digital platforms, allowing for greater interaction.”

How do modern communications channels, especially social and digital media, shape Gen Z’s perception of the world and social relations? To what extent and in what ways do these channels influence their political socialisation and the formation of their views, particularly in the context of their behaviour as a voting demographic (electorate)?

— In order to discuss the impact of modern communication channels, particularly social media and digital platforms, on Gen Z’s worldview and social interactions, we must first acknowledge the variety of content available to them. Unlike traditional media – or even professional digital media, where content is filtered through journalists and editors, as so-called “gatekeepers” – social networks aren’t limited to curated information. However, their advantage lies in interactivity, which creates an illusion of personalisation for users.

It is well known that people tend to trust media with a personal touch more than commercial media. And yet, this strength of social media is also its greatest risk.

Brands can only build credibility through truthful and transparent communication with consumers, maintaining consistency over the long term. This requires a combination of various communication tools and media, with a strong emphasis on content that adheres to ethical business principles

The way people perceive reality and form opinions ultimately depends on their ability to assess the credibility and accuracy of the content to which they are exposed. This underscores the importance of media literacy and the need to educate younger generations on how to consume online content critically.

However, in a broader context, as we are currently witnessing a wave of youth-driven protests and student-organised blockades in Serbia, it is clear that Gen-Z is not living in an isolated bubble, as was often suggested in previous years. In relying primarily on social media for communication and digital platforms for information, they have demonstrated that they are not uninformed. Indeed, they have shown a high level of media literacy, proving that they can quickly find, create, share and interpret relevant media content, adapting it to their audience with remarkable efficiency.

We are witnessing a growing crisis of trust in institutions, corporations and even marketing. How can brands build credibility in such an era of consumer scepticism? Are authenticity and transparency becoming key factors in effective marketing communication?

— Scepticism – and even outright negative perceptions of advertising – is nothing new. As I’ve mentioned previously, consumers distinguish between personal and commercial content, and they tend to trust personal messages more.

Advertising and sponsorship are classic examples of commercial communication, which is why advertisers have always sought alternative strategies to enhance the word-of-mouth effect.

With the rise of social media and digital platforms, influencers and influencer marketing have emerged as a paradigm of authentic and transparent communication. However, the intensified use of this form of paid promotion has led to a decline in consumer trust in influencers – in their opinions and recommendations.

In response to your question, brands can only build credibility through truthful, open and consistent communication with consumers over the long term. This requires a combination of various communication tools and media, with a particular focus on content that adheres to ethical business principles.

Inflation, rising prices and economic uncertainty continue to influence consumer behaviour worldwide. How have these changes impacted marketing strategies? Are we seeing a tendency towards downtrading (consumers choosing cheaper alternatives) or growth of luxury consumption in certain segments?

— There is growing resistance to corporations globally, which is also linked to increasing awareness of rising global inequality.

Inflation, rising prices and economic uncertainty inevitably influence consumer decision-making, affecting the products they buy and how they allocate their budgets.

Price sensitivity, however, is driven by multiple factors and is not a universal phenomenon – it varies across different products and consumer segments. If we generalise, we can observe that consumers in Serbia and neighbouring countries have been opting increasingly for cheaper alternatives to products they usually buy.

A new movement is emerging among consumers, driven by heightened consumer activism, where boycotts of retailers are being organized. Unlike similar attempts in past decades, these actions are yielding far greater results today

What I find particularly interesting, however, is the rise of a new consumer movement driven by increased consumer activism. We are now witnessing organised boycotts of retailers, which – unlike similar attempts in past decades – are yielding far greater results today.

For example, a recent boycott in Croatia resulted in a more than 50% drop in issued receipts in just one day. Similar boycotts have been announced in Slovenia and seem likely to spread to other countries in the region, including Bosnia and Herzegovina, Montenegro and Serbia.

ESG (Environmental, Social and Governance) initiatives are becoming a central topic in corporate business. Is green marketing still a valuable tool for brands or have consumers developed an immunity to sustainability messaging? How can companies avoid greenwashing and create campaigns that consumers perceive as genuine?

— Green marketing is a subset of socially responsible marketing and its significance grows in parallel with increasing consumer awareness of the need to protect the environment and broader social values.

Returning to the topic of consumer activism, it is important to note that today’s consumers are more aware and more willing than ever to penalise companies and brands that fail to uphold accepted social values and ethical norms.

This includes the poor treatment of employees, unethical practices pertaining to animals, environmental neglect, or discrimination against specific social groups. In this sense, socially responsible marketing has become a necessity for companies that aim to survive and maintain their reputations.

However, problems arise when companies exploit sustainability narratives merely to enhance their public image, cover up questionable business practices or promote products in industries where direct advertising is restricted – such as in the gambling sector.

In such cases, this is not genuine corporate responsibility or a sincere commitment to ESG principles, but rather falls under the category of greenwashing, a practice aimed at whitewashing the reputation of companies that fundamentally operate unethically.

This deception is impossible to hide, as consumers quickly recognise and punish insincere efforts—whether through boycotts, negative publicity or reduced brand loyalty.