The role and importance of value-based segmentation on the cohort of millennials: Case study Serbia

The paper deals with the value-based segmentation conducted on Millennials generation in Serbia. It presents the research findings of the five segments of the Serbian Millennials according to their values and life style. The subject of defining the set of segments was processed by conducting a cluster and factor analysis on the representative national sample of Millennials in Serbia. Once the cluster analysis discovered the segments, the next step was to understand the essence of the clusters or segments. The sample is consisted of 1000 respondents, reflecting the population structure of the Serbian generation Y according to gender, age, region and type of settlement (urban / rural). The analysis showed some quite interesting and in some parts contradictory results. The results of this survey are relevant for sociologists, strategists, communications professionals and managers who are interested in this generation of voters, consumers, employees, leaders and entrepreneurs.