This study analyzes the influence of the brand asset factors of local festivals on the intention to visit the festival after COVID-19. Therefore, we present an effective way to reduce hesitation and uncertainty about participation in the decision-making process related to potential visitors' participation in the festival.
First, the structural relationship between the effect of festival satisfaction on brand equity and the influence of brand equity on visit intention was analyzed. And the moderating effect of risk perception and untact tendency on the influence of brand assets on visit intention was analyzed.
As a result, in order for brand equity to affect festival visits, it is necessary to lower the risk perception of festival visits. Therefore, the festival experience needs to satisfy the intrinsic value of the festival and at the same time satisfy the environmental conditions that can reduce the psychological anxiety of consumers.
Second, the mediating effect of relationship benefits on the effect of festival visit intention on relationship continuation intention was analyzed. In order for the festival to continue to attract visitors and maintain positive relationships after COVID-19, effective brand asset management and communication strategies to manage the perceived benefits of relationships are important.
As a result, this study suggests the need to systematically manage the brand assets of festivals for successful hosting and continuous development of local festivals after COVID-19. In addition, the decision-making mechanism related to festival participation suggests the need to systematically manage the positive relationship factors between consumer psychology and festivals changed by COVID-19.