Marketing Plan for Live Nation Music Event

This report presents a marketing plan for Live Nation's music event, including business mission, KPIs, target audience, marketing strategies, and budget. It also includes Porter's Five Forces analysis and pen portrait. The report covers the proper budget planning, mission, target audience for the event, and concludes with the description of the Porter Five Force and pen portrait.

MARKETING PLANNING
EXAM BREFING AY 202122

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Business mission .........................................................................................................................3
KPI for the Music Event .............................................................................................................3
Target audience ...........................................................................................................................4
Marketing strategies and the channel of distribution...................................................................4
Marketing plan for the music event.............................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
A marketing plan can be described as a tool used by several organizations for the purpose
of marketing and promoting the products of their company for the purpose of increasing their
sales. The current report presents a marketing plan for the purpose of conducting a music event
which will launched by the Live Nation. It includes the marketing and content strategies used by
the organizers in order to promote the event. Also, it discusses channels through the
advertisements will be published. The present report states the number of band which will be
performing at the Music Event.
MAIN BODY
Business mission
To successfully launch a music event by Live Nation for a huge crowd by inviting some
well-known bands with an objective to earn profit.
KPI for the Music Event
KPI refers to the key performance indicators which means that it includes certain
measures which helps an organization in measuring the performance of a particular objective.
The key performance indicators for the purpose of measuring the performance of the marketing
plan are mentioned below:
Revenue Variance analysis
For the purpose of identifying the success and promotion of the marketing plan , it is
necessary for an organization to take steps which helps them in measuring the current
performance of the event (Tong, Luo, and Xu, 2020). For the same, the technique of revenue
variance analysis will be used which help the marketing team in identifying the number of tickets
sold, and how many people will be present at the event.
Expense Analysis
Another strategy that will used by the marketing team for the purpose of determining the
success of the event will be expense analysis. The expense analysis will include the marketing
expense to sales ratio. If the cost of marketing is higher than the revenue earned or the number of
tickets sold, that means the marketing plan is not successful but if it has been determined that the
revenue earned is higher than the expenditure incurring in marketing, this means the event is
gaining popularity and there are chances that the event will be a huge success.

Target audience
The target audience for the purpose of launching the event will be the youth belonging to
the United Kingdom as the bands that will be performing in the music event are most liked by
the people falling under the age group of 14 – 50 years of ages. This includes young girls and
boys and the middle-aged men and women. The main objective of the music event is to gain the
attention of the people falling under this age group.
Marketing strategies and the channel of distribution
In order to promote the music event, the Live Nation made use of several marketing
strategies, they are mentioned below:
Social Media Marketing
For the purpose of promoting the event, the Love Nation created several advertisements
and published on the social media marketing channels which includes Pinterest, Instagram,
Twitter, Facebook and YouTube. The helped the organization in promoting the event and selling
around 7210 tickets in 15 days and earning a revenue of around €30100 to the company.
Radio
Another channel of distribution which has been used by the Live Nation for the purpose
of promoting the music event and attracting the target audience is the use of radio (Al-Surmi,
Cao, and Duan, 2020). The company has published several advertisement by way of radio which
helped the Live Nation in selling a total of 6825 tickets within a time frame of around 15 days
and helped in attracting the revenue figure of €255750.
Cinema
Another channel of distribution which has been used by the company is the cinema. The
advertisement in relation to the music event will be provided before and in between the movie
breaks. It helped the company in attracting the target audience by way of publishing the
advertisement in cinema halls and trying to gain their attention towards the event. With the help
of cinema, the Live Nation made a revenue of €310125 by selling a total of around 7575
tickets for a time span of 15 days.
Email marketing
In order to attract the target audience towards the event, the Live Nation also made use of
email marketing through which the company provided the personalized emails to those which

were the target audience for the event that helped the company in attracting them and increasing
the sales of the company (Lo, and Campos, 2018.).
Marketing plan for the music event
Plan omission:
It defines what marketing team will be going to focus on, in hosting the one-day music
event marketing team will focus on strategy implementation as to done best measures to organise
successful music event. As for this KPI can be used, to track the performance, three bands which
will going to perform are little mix, arrival ABBA tribute band and busted band where one DJ fat
boy slim will perform (Koivusalo,2018). Throughout the live stream there will be better service
that will provide to the audience so that they will develop their remarkable moments.
Marketing budget:
It is the most important aspect to set the budget it helps in utilising the resources in best
manner without wasting it. budget for the music host marketing plan is as follows:
Resources Cost
Little mix band cost €3000
Busted band cost €12000
Arrival ABBA tribute band €5000
DJ fat boy slim €12000
Venue cost €175,000
Cinema marketing cost €1500
Social media marketing €15000
Radio marketing €5300
Total cost €638575
Total revenue which is generated by total sales are= €867375
Profit= revenue generated-total cost
=€867375-€638575
=€638575

Scheduling:
In this 5 hours music event 3 bands and 1 DJ will perform also there will be some
introductory, speech and breaks are there where the DJ will perform also short speech and
introduction for the next music band speech will be there. Proper scheduling for 5 hours music is
as follows:
Begin with the hosting the event for that purpose 45 minute will be taken by the host to give
brief introduction about the event and also discuss what audience will be going to be experience.
After this first performance for the little mix will be there they will perform for 1 hour for that
that they charge 3K Euro. After Little mix performance 30 minutes’ break will be there in which
DJ will perform for almost half an hour. Whole arrangement is well done by the event
management team so that there will be no issues (Learning, 2021). After 30-minute break next
band will be called which is Arrival tribute band they will perform for 1 hour, after the
completion of their performance 1-hour break will be there in which for the first 30 minutes DJ
band will perform and for the last 30 minutes’ speech will be there after all this for the last 45
minutes’ band Busted will perform and after its the event ends. Thus it will be the 5 hour plan for
the musical event.
Porter five force for competition analysis:
It is the strategic analysis tool which helps in identifying the impact of the external
factors on one’s business, so that strategies can be reviewed and implemented for better
competition advantage.
Supplier power: As for the music industry suppliers are usually demanded, thus for the Live
nation it is important for them to connect with different suppliers as well in market to switch
whenever price goes higher in market (Whitler).
Customer power: Mainly consumer power is less as customer always ready to pay for their
favourite singers or performers. Therefore, for the Live nation it is important to provide the
better ticket options and facilities to their consumer.
Competition rivalry: Competition is the music event industry is highly intense, thus in such it is
important for the live nation to implement better strategies or they can also proceed to
collaborate with other company so that they will be benefited to acquire good market share.

New entry threat: For the live nation this threat is low because music event industry is not easy
to enter, thus still they have to improve their working functionality to drive constant cash inflow
in their business.
Substitute threat: This threat will be low for the live nation as they have the best strategies and
services which makes them stand out from their rivalries.
Pen portrait: It is also termed as the buyer persona which entails the image for the ideal
customer.
For the musical event the target customer are youths and adults, for this they come from across
the world as the event is hosting in UK. Audience usually prefers the best music taste, that’s why
they purchased the ticket to be part of such live stream.
GANTT CHART

Task Name Duration Start Finish
Event project initiation 102 days Tue 4/26/22 Wed 9/14/22
Setting of mission and
objectives 35 days Tue 4/26/22 Mon 6/13/22
marketing budget 60 days Tue 6/14/22 Mon 9/5/22
Team formation 7 days Tue 9/6/22 Wed 9/14/22
Project planning 98 days Thu 9/15/22 Mon 1/30/23
Theme selection 3 days Thu 9/15/22 Mon 9/19/22
Event date 2 days Tue 9/20/22 Wed 9/21/22
Implementation 15 days Thu 9/22/22 Wed 10/12/22
Venue selection 30 days Thu 10/13/22 Wed 11/23/22
Sponsor 28 days Thu 11/24/22 Mon 1/2/23
Market research for
trends 20 days Tue 1/3/23 Mon 1/30/23
Project implementation 105 days Tue 1/31/23 Mon 6/26/23
Role and
responsibilities
segregation
30 days Tue 1/31/23 Mon 3/13/23
Expert requirement 30 days Tue 3/14/23 Mon 4/24/23
Resource distribution 45 days Tue 4/25/23 Mon 6/26/23
Monitoring 60 days Tue 6/27/23 Mon 9/18/23
Team performance
measurement 30 days Tue 6/27/23 Mon 8/7/23
Closer 30 days Tue 8/8/23 Mon 9/18/23
feedback 10 days Tue 8/8/23 Mon 8/21/23
success measurement 20 days Tue 8/22/23 Mon 9/18/23

CONCLUSION
From the above report it is concluded that marketing plan helps in implementing such
strategies that helps in making any event successful. Above report have illustrated the marketing
plan for hosting the music event that runs for 5 hours, it covers the proper budget planning,
mission, target audience for the event. And lastly concluded with the description of the porter
five force and pen portrait.

REFERENCES
Books and journals
Al-Surmi, A., Cao, G. and Duan, Y., 2020. The impact of aligning business, IT, and marketing
strategies on firm performance. Industrial marketing management, 84, pp.39-49.
Koivusalo, E., 2018. Social Media Marketing Plan for Natural Goods Company.
Learning, L., 2021. Reading: Elements of the Marketing Plan. Introduction to Marketing II 2e
(MKTG 2005).
Lo, F.Y. and Campos, N., 2018. Blending Internet-of-Things (IoT) solutions into relationship
marketing strategies. Technological Forecasting and Social Change, 137, pp.10-18.
Tong, S., Luo, X. and Xu, B., 2020. Personalized mobile marketing strategies. Journal of the
Academy of Marketing Science, 48(1), pp.64-78.
Whitler, K., Developing a Superior Strategic Marketing Plan. Available at SSRN 3238616.
1