Abstract
This study analyze the effect of awareness on the efficiency of local fesivals. The 1st stage performance efficiency was estimated by total budget and festival expense ratio as input and the number of visitors as output factor. And the 2nd stage revenue efficiency was measured using output of 1st stage as input and customer satisfaction and total sales as output factor. Furthermore, we use tobit regression model to analyze the effect of awareness on the efficiency using exposure on SNS and portal sites and festival history. As a result of efficiency estimation, it was analyzed that portal site exposure had a significant positive effect on both efficiencies, and SNS exposure and festival history had a significant negative effect only on profit efficiency. Furthermore, we developed a 2x2 matrix based on each efficiency score to suggest efficiency improvement plan.
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