Events and Festivals are cultural events that boost the local economy, attract tourists and reinforce the identity and affective ties of residents. The article assesses the relationship of three important elements of the Feira Nacional do Doce – FENADOCE: the event, its organization and its impacts; the residents' feeling of belonging to the festival; and the position of the mascot as a symbol of the event. Data of the 424 questionnaires collected from residents of the city of Pelotas-RS (Brazil) were analyzed through Factor Analysis and Structural Equation Modeling. The result identified seven dimensions of analysis: organization of the event; socio-cultural benefits; socioeconomic benefits; negative impacts; residents' belongingness; economic value; and symbolic value of the mascot. The work offers theoretical and managerial contributions in the fields of destination and/or event’s brands, especially those represented by mascots, whose incorporation into the residents' ideals is not always an easy task.
