FINANCIAL LITERACY, RISK ASSESSMENT AND MARKETING OPPORTUNITIES IN THE ADOPTION OF NEW AGRICULTURAL PRODUCTS

Aleksandra  Zlatić Tešić; Bojana  Ostojić; Miloš  Nikolić

doi:10.59267/ekoPolj2602435Z

Authors

Aleksandra Zlatić Tešić University Business Academy Novi Sad, Faculty of law for commerce and judicary, Cvecarska 1, 21000 Novi Sad, Serbia https://orcid.org/0000-0001-5993-3065
Bojana Ostojić Faculty of Project Management (PMC), Bozidara Jankovica Street 14, 11000 Belgrade, Serbia https://orcid.org/0000-0001-6731-431X
Miloš Nikolić MB University, Faculty of Business and Law, Teodora Drajzera no. 27, 11000 Belgrade, Serbia https://orcid.org/0000-0003-0690-8047

DOI:

https://doi.org/10.59267/ekoPolj2602435Z

Keywords:

Agricultural products, financial literacy, financial risks, marketing opportunities

Abstract

This paper investigates the relationship between financialliteracy, financial risk perception, and marketingopportunities during adoption of new agriculturalproducts. Based on a sample of 307 agricultural producersfrom Serbia, the findings highlight the central role offinancial literacy in shaping both market orientation andrisk awareness. Agricultural producers with strongerfinancial literacy were more likely to recognize theimportance of marketing for new product success, whilealso demonstrating heightened sensitivity to financialrisks. Importantly, financial literacy did not diminishperceived risks but sharpened agricultural producers’ability to critically evaluate uncertainties and investmentdecisions. At the same time, risk-aware producers tendedto view marketing not as an additional burden but as astrategic mechanism to mitigate or balance risks. Overall,the results underscore how financial literacy and riskperception jointly foster opportunity-driven behavior inthe placement of new agricultural products.

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