Market Segmentation of an International Cultural-Historical Event in Italy

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Abstract
This study explores the existing markets of a unique annual event, the Spoleto Festival in Italy, that blends inter nationally well-known cultural exhibitions with historical settings. Behavioral, motivational, and demographic char acteristics of festival visitors were examined by using a posteriori market segmentation. Factor analysis was performed to determine the leading motivations for attending the international cultural-historical event, whereas cluster analysis was employed to identify groups of respondents based on motivational behaviors. Based on the findings, two distinct groups were formed: Enthusiasts and Moderates. The results of the study show statistically significant differences between the two groups in terms of age, income, and marital status. Marketing and management implications for effectively targeting the two market segments are discussed.