Market Segmentation in the Film Industry Based on Genre Preference: The Case of Millennials

Authors

  • Dejana Nikolic Faculty of Organizational Sciences, University of Belgrade, Serbia
  • Milica Kostic-Stankovic Faculty of Organizational Sciences, University of Belgrade, Serbia
  • Veljko Jeremic Faculty of Organizational Sciences, University of Belgrade, Serbia

DOI:

https://doi.org/10.5755/j01.ee.33.2.30616

Keywords:

Market segmentation, Film industry, Genre preference, Communication strategy, Biclustering

Abstract

One of the industries that has been hit the most by the Covid-19 is the film industry. Practitioners and experts in the field are in need to better understand the changed consumers and their new behaviour so that they can adequately communicate with them. The population segment which attracts the most attention are the Millennials due to the fact they have a high level of self-interest, they mix streaming services, and their purchase intention building is much slower compared to other generations. This study aimed to propose a segmentation approach in the film industry based on genre preference. To verify the proposed approach, an online survey on consumer habits and attitudes towards different elements of film marketing mix was conducted at the beginning of the Covid-19 lockdown in Serbia. Upon that, biclustering algorithm was employed to segment the respondents. Finally, similarities and differences between retained segments were explored, which provided insights on which elements of film (elements of product, Word of Mouth, Frequency of consumption, and elements of promotion) respondents pay attention to based on their genre preference. The observed similarities and differences led to the creation of tailored communication strategies for each segment, which could improve the effectiveness of marketing activities in the film industry during the Covid-19 era, and could be extended in the post-Covid era.

Author Biographies

Dejana Nikolic, Faculty of Organizational Sciences, University of Belgrade, Serbia

Dejana Nikolic is Teaching Assistant at the Univeristy of Belgrade, Faculty of Organizational Sciences, Department of Marketing Management and Public Relations. She is also PhD student at the University of Belgrade, Faculty of Organizational Sciences. Her research fields are creative industries, marketing and public relations. She is also the author of more than 30 scientific papers in the field of management and communications.

Milica Kostic-Stankovic, Faculty of Organizational Sciences, University of Belgrade, Serbia

Milica Kostić-Stanković is Full Professor and Head of Department of Marketing Management and Public Relations at the University of Belgrade, Faculty of Organizational Sciences. She received her PhD from the University of Belgrade, and has specialized in marketing, strategic marketing and public relations. She is the author and co-author of seventeen books on marketing management and corporate communications, as well as the author of six monographs. She is also the author of more than 100 scientific papers in the field of management and communications.

Veljko Jeremic, Faculty of Organizational Sciences, University of Belgrade, Serbia

Veljko Jeremić is an Associate Professor at the Department of Operational Research and Statistics at the Faculty of Organizational Science, University of Belgrade. He finished his PhD thesis in the field of computational statistics. He has published over 60 scientific papers with emphasis on ISI indexed journals. He is co-author of one university textbook. He has acted as a reviewer for many ISI indexed journals such as Jasist, Scientometrics, and Journal of applied statistics.

Additional Files

Published

2022-04-27

Issue

Section

Articles