Consumer rights protection and prohibition of unfair business practices with the aim of improving consumer needs and demands satisfaction

A characteristic feature of contemporary business and current trends in the market economy is primarily globalization, which has significantly enhanced the possibilities for expanding operations from one market to multiple markets, while simultaneously increasing competitiveness among business entities. Consumer protection in developed market economies is not a new topic; however, under the conditions of globalization, the transition processes of the economy in certain countries, and competitive relations in modern economic flows, this issue has attracted significant attention from the scientific and professional community in recent years. After the introductory section, this paper reviews the concept and significance of consumer satisfaction, specifically addressing the meeting of consumer needs and demands as an economically significant category essential for modern business practices. Furthermore, the paper focuses on the legal provisions related to consumer rights protection and the prohibition of unfair business practices. The concept of consumer protection is safeguarded by the Constitution of the Republic of Serbia, while consumer rights protection and the prohibition of unfair business practices are primarily regulated by the Law on Consumer Protection and the Consumer Protection Strategy for 2019-2024.