Purpose-To empirically examine the effect of the festival's experience factors(4Es) on satisfaction, brand attitude, and willing to pay(WTP), we collected data from visitors who had visited the 2022 Goyang Autumn Flower Festival and examined practical implications of the industry to strengthen the festival brand and develop experiences to maximize profits.
Design, data, and methodology - A set of hypotheses were drawn; whether each 4Es of the festival affect satisfaction and brand attitude, whether these mediates between 4Es and WTP. In order to test the hypotheses, a survey of 142 usable responses from visitor to the festival, were gathered and used for data analysis with Process Macro.
Result-All experience factors(4Es) in the festival were found to have a positive effect on satisfaction and brand attitude. Satisfaction showed a positive mediating effect on WTP, but the mediating effect of brand attitude was not statistically significant.
Conclusions-As the experiences are applied to the festival, the satisfaction of visitors will increases which will increase profits. And brand attitudes increase, loyalty and revisit rates increase. The economic effect of these festivals increases the economic independence of the festival and becomes a virtuous cycle through the development of high-quality festivals.