Notable business operations internationalization and changes in marketing channels have affected the position of domestic suppliers and domestic brands. This is especially characteristic for the developing countries’ markets, primarily with respect to consumer’s goods markets, where, as a rule, marketing channels are more developed and brand is more prominent as a means of competitive advantage. Under competitive pressure, many companies have started to implement modern marketing approach in their business operations in order to adequately respond to the perceived tendencies. A research on suppliers’(producers and distributors) marketing practice was conducted using a sample of 93 companies focused on consumer goods market from Serbia and Montenegro. Marketing approach was observed from the aspect of the following dimensions: company’s innovativeness, company’s differentiation, brand positioning and protection, developing good relations in marketing channels, perceiving the price as the reflection of brand value, and balanced application of promotion instruments. The results showed that implementation of modern marketing practice leads to more successful business operations and better financial results. It was also determined that, depending on the origin of (the majority) company ownership, there is a statistically significant difference in implementation of modern marketing approach. Foreign companies more consistently implement modern marketing practice in business operations. With respect to differences in companies’ market approach depending on the origin of the key brands no statistically significant differences were noted.