Determination and ranking of factors that are important in selecting an over-the-top video platform service among millennial consumers. Issue 1 (28th December 2020)

• Record Type: Journal Article
• Authors: Koul, Shiva; Ambekar, Suhas Suresh; Hudnurkar, Manoj
• Is Part Of: International journal of innovation science. Volume 13:Issue 1(2021)
• Page Start: 53
• Page End: 66
• Publication Date: 2020-12-28
• Subjects: Millennials -- Consumer behavior -- Indian OTT market -- Over-the-top video -- Subscription; Creative thinking -- Periodicals; Creative ability -- Periodicals; Creative ability in business -- Periodicals; Creative ability in technology -- Periodicals; Technological innovations -- Periodicals; 153.35
• DOI: 10.1108/IJIS-09-2020-0174
• Languages: English
• ISSNs: 1757-2223

Abstract

Abstract : Purpose: The purpose of this paper is to determine, rank and form composite relational factors that impact the millennial consumer's mind-set when they opt for an access-based subscription of an over-the-top (OTT) platform service. In the competitive rising Indian market of OTT platforms, there is a need to understand what factors drive the subscription of a service for a company strategizing to build up on their customer base or for a company seeking to retain its customers. Design/methodology/approach: The approach includes determining factors that impact the buying behavior of the consumer and have them ranked by the survey participants in order of their importance as a factor in considering a subscription of an OTT platform service. Questionnaire as a method is used for primary data collection in this research. Using "purposive sampling, " participants of the survey were determined based on their age group and current or historic consumption of at least one OTT platform service. The survey was conducted for the millennial viewership from Tier I and Tier II cities that have good internet connectivity over their mobile phones. Findings: The result of this research is a ranking of factors based on their importance as perceived by the millennial consumers and then form composite factors, which have similarities in responses. Practical implications: This research enables the consumers of the information to dwell on the factors that prove to be of comparative importance to the consumer and plan/forecast their strategies and further research studies accordingly. Originality/value: A research along similar lines has been conducted for US-based OTT platforms. However, this research is specific for Indian consumers and platforms and holds significance because of growth in the Indian OTT market.