Strategic Elements For Successful Planning Of Festivals – The Case Study Of Electric Castle Festival

Big events are playing an important role in our society and lives; therefore, there was an increase in their number in the past ten years, which automatically made them also an economic power in different countries. Throughout the paper, we are focusing on the music festival events that grew organically since their existence, and together with their development; it helped the society and economy of Romania grow. The study is focusing on good practice in organizing these events from planning to the target market and all the things that need to be taken into consideration when creating an event. The study focused on assessing the managerial team perceptions, attitudes, and values regarding the development strategy for this event with the scope to identify the key elements used in their process. To conduct the study analysis, we created a research process structured in two phases. Phase 1 involved observations of the main decisions and actions implemented during the previous editions of the festival and analysis of the official points of view of the festival’s managerial team. The results of this part of the study together with the main aspects identified in the literature prepared the second part that aimed to detail more the strategical thinking of the managerial team. Therefore, this study’s main goal is to identify what strategic elements are required to develop strong festivals’ identities and brands in the market.