The aim of this study was to develop of structural model which could measure the success of music festivals with the concepts of brand equity and loyalty and to see how such a model can be used. The model is based on festival specific constructs and other relevant constructs for loyalty and brand equity. Theory from areas such as loyalty, brand equity, motivation and studies about music festivals was analyzed and relevant elements were transferred into measureable latent variables. The conceptual model was standardized for music festivals. By doing this the model can be used across several festivals as a benchmark for performance. The model was specified as a structural equation model with fourteen latent variables. Each of these latent variables was operationalized by a set of indicator variables, observed through survey questions. The Danish heavy metal festival COPENHELL was used to test and evaluate the model. The conceptual model was estimated based on data conducted from an online survey. It was estimated by partial least squares (PLS) by the use of the software SmartPLS. The estimated model missed some significant relationships between several of the constructs, which is why a revised model is presented. The model was able to explain 78% of the dimensions influencing the loyalty of a music festival. The testing of the model showed that socialization was the most influential dimension on loyalty, but dimensions like tradition, atmosphere and motiva-tion also had high impact. The thesis shows it is possible to bring together theory from several different areas and com-bine them in a single model. The model shows high explanatory power and can be used by managers of music festivals to assess the dimensions which have the highest impact on loyal-ty and to get insight into the visitors’ preferences regarding the development of loyalty.
|Educations||MSc in Economics and Marketing, (Graduate Programme) Final Thesis|
|Number of pages||114|