@article{Simic:289615,
      recid = {289615},
      author = {Simic, Vladimir},
      title = {The Institutional Development of Online Advertising  Serbia},
      journal = {Ekonomika, Journal for Economic Theory and Practice and  Social Issues},
      address = {2012-12},
      number = {1350-2019-2555},
      year = {2012},
      abstract = {Online advertising or web advertising is the central and  most important promotional activity of modern brands and  companies on the global network – the World Wide Web, which  encourages the purchase of goods and services, either over  the Internet, either at the physical point of sale. Online  advertising includes banners, the pages displayed during  the web search, contextual ads, blogs, advertising on  social networks, interstitial ads, Email ads... [1]. In the  most general sense, online advertising is defined as  advertising (commercial) messages that appear on a computer  monitor, using an online service called Internet World Wide  Web. [2] The very fact that we say “central” promotional  activity, suggests that there are other Internet  promotional activities such as Internet PR, Internet direct  marketing and so on. Thus, the concepts of online promotion  and online marketing are more general than the concept of  online advertising. Their relation, in the terms of  generality, is the same as the relation between the  concepts of marketing, promotion and advertising in  traditional media. Consequently, online advertising is part  of the overall marketing and promotional activities of the  participants at the national or international market. In  everyday use of terminology, the concepts of online  marketing and online advertising are often equated, which  also tells a lot about the level of significance of online  advertising in the overall system of promotion and internet  marketing. On the other hand, online advertising has its  own internal structure, because till now there has been a  differentiation of several forms of this type of  advertising. Inside this structure we can distinguish:  display advertising, advertising on web search engines,  classified ads and advertising in the address books /  directories / catalogs, and more. These forms of internet  advertising are dominant in its structure. Display  advertising is popularly called banner advertising, but it  is certainly a broader phenomenon, because the banners have  become in recent years only one of the possible forms of  display advertising. Those other forms are video ads,  branding, ads in the text and others. Web search engines  such as Google, Yahoo, MSN, Bing are significant platform  for advertising on the Internet, given that they are  practically unavoidable mediums in the Internet use. For  this reason, many brands and companies do their advertising  on the most important search engines; in other words, they  pay for a good position of online contents about them, in  the search of the Internet users. Small ads on the Internet  and advertising in address books and other types of  directories have their own stable and indispensable place  in the overall web advertising. These types of online  advertising also record revenue growth, but it must be  noted that display and search advertising record a higher  level of growth and at the same time, as the segments,  strengthen dominance. Online advertising is of predominant  importance compared to all the other forms of promotional  activities on the web, if we take into account the amount  of money invested by the world’s largest multinational  brands in display and search advertising, on one side, and  in PR announcements and press releases on various  influential news sites, on the other side. Another fact  which largely indicates the importance of online  advertising is its very strong expansion in relation to the  advertising on the so-called traditional media such as TV,  radio, newspapers, billboards and so on., at least when we  observe the group of the most developed countries in the  world (EU, USA, Canada, Oceania, Japan, etc.). Most  predictions about the commercial position of the Internet  media in the future suggest its predominance over the  traditional media. However, there are other views, such as  the one represented by the marketing guru, Philip Kotler.  He believes that the Internet will not become the main  medium of advertising in the future, such as TV, radio and  newspapers, because commercials (advertising) are not  welcome by Internet users [3] In some countries, online  advertising, according to the total revenue, has been  equated with advertising on TV, which is the most powerful  traditional media. In the UK, in 2009 online advertising  surpassed TV advertising, when the share of the first one  was 23.5% and the second one 21.9%. The cause of this shift  is not only the online advertising growth of 4.6 percent  compared to 2008, but also the decline in television  advertising in the amount of 17%. The institutions of  online advertising can be defined as a network of  institutions and organizations that are crucial to the mere  process of conducting the business of online advertising.  Institutional base is essential for the formation,  sustainability and development of any business, because the  mere institutions and organizations are the entities that  conduct and improve business. The network of online  advertising in Serbia is, in structural sense, in the  process of rapid development, which means that the  indispensable institutions and organizations for online  advertising have been formed. On the other hand, the  systematic relation between these institutions is weak and  their importance and role in the field of online  advertising are not at sufficient level; they must be  improved as soon as possible, so as to avoid the delay of  Serbia, not only in relation to Europe and the world, but  also in relation to the countries of the region.},
      url = {http://ageconsearch.umn.edu/record/289615},
      doi = {https://doi.org/10.22004/ag.econ.289615},
}