Online business models in art markets: a comparative analysis on Instagram

• Autor(a) principal: Figueiredo, Mónica Horta de
• Data de Publicação: 2020
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10071/21739
• topic: Art markets; Online business models; Social networks; Customer relationship; Mercados de arte; Modelos de negócio online; Redes sociais; Relacionamento com o cliente

Operating in an industry traditionally reluctant to change, companies in the art market have felt the need to adapt to new communication and information technologies, currently concentrating efforts to make advertising and brand engagement effective. In this sense, social networks are gaining increasing importance as they allow companies to reach a large number of consumers while keeping the costs quite low, especially when other types of promotion platforms are considered. This thesis aims to compare different communication methods on Instagram by: (1) companies with different business models and same dimensions; and (2) companies with same business models and different dimensions, tending to explore their impact on followers’ engagement levels. For that a quantitative analysis was performed via 421 posts from a total of 9 companies on the social network. The results obtained from the sample, tend to point to certain patterns between the formed clusters, which indicates that there are effectively differences in the mode of operation of exclusively online or traditional companies as well as in relation to differences in the scope of operations. This study, when associated with others of a more general nature, will allow marketers from companies involved in the art market to draw conclusions regarding the way they intend to implement their communication strategies through the use of social networks, more specifically by making use of Instagram, drawing lessons from how the largest international companies perform.