Marketing Planning for Live Nation's Outdoor Music Event at Royal Albert Hall

Marketing Planning
MAR0022

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Understanding of market place...................................................................................................3
Target market..............................................................................................................................3
Cost chart and other cost.............................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing plan is being defined as document which outlines the efforts relating to
marketing of the business for the future period of time. For the success of the business it is
necessary that proper marketing is being undertaken so that people comes to know about the
services of company. the current marketing plan is based on company Live Nation which is an
American global entertainment company founded in 2010. Currently the company is planning for
a new outdoor one- day music event. The present report will discuss the target market and the
cost of organizing the event.
MAIN BODY
Understanding of market place
For the success of the event, the most essential aspect is to analyse the proper market
place. This is necessary because of the reason that in case the market place will not be good then
more people will not be coming to the event. Hence, this will result in loss for the event and
people will not be liking the same. So for Live Nation it is necessary that they must evaluate the
crowded place to hold the event. Along with this, the place must also be the one which is easily
approachable by the people so that more people can come within the event. the crowded place
selected for the organizing of event is the Royal Albert Hall in London (Royal Albert Hall,
2022). This venue is being selected because it is the largest concert fall and is having the
capacity of 5500 audiences. Thus, this will be beneficial as more people can be assimilated at a
single time. The construction cost at that time was £199748 and the first brick was laid on
November 1867. Also, this hall is having a spectacular dome made of glass and iron. Moreover,
since the inception this hall has hosted around 150000 events.
Target market
For the organising of event in successful manner it is necessary that all the decision is
being taken in advance especially the decision relating to target market. This is necessary
because of the reason that in case the target market is not clearly set then this will be affecting
the working to a great extent. the reason behind this fact is that target market assist the business
in focusing on that particular group and try to satisfy their need and preferences (Morgan and
et.al., 2019). Thus, in order to make the music event successful the major target majorly involves
every type of consumer with a special focus on music enthusiasts and concert lover. Along with