Marketing Plan for a Live Concert

The Marketing Plan for Live Nation Entertainment is the world's leading e-commerce and live entertainment company. The report is based on the marketing plan for the live concert taking place in Hot Milk. Read our comprehensive marketing plan for live concerts, including SWOT analysis, STP analysis, marketing mix, and action plan. Get insights on how to promote your live concert effectively.

Marketing plan for
live concerts

Executive summary
The Marketing Plan for Live Nation Entertainment is the world's leading e-commerce
and live entertainment company. They take a thoughtful approach to consolidating the unique
content elements of their leading concert company. Live Nation is now in control of the
global online ticketing market and has skyrocketed its competitors in all areas including event
promotions and national concerts. The concert promotion business is showing excellent
profitability and growth rate as shown in our plan. Our competitive advantage together with
new advertising techniques make Live Nation Entertainment one of the leading providers of
advertising services. We live in a time when more and more new talent is being introduced
into the concert mainstream. Our concert promotion services differ from traditional concert
promoters in that we have an extra personal touch.

Contents
Executive summary.............................................................................................................................2
Introduction.........................................................................................................................................4
Main body............................................................................................................................................4
Marketing plan................................................................................................................................4
Conclusion..........................................................................................................................................10
References..........................................................................................................................................11

Introduction
The marketing plan defines a document that sets out a company's marketing efforts
for an upcoming period of time, usually a year. It describes the marketing strategy as well as
the advertising and sales promotion activities planned for the period. The purpose of creating
a marketing plan is to clearly define the company's marketing goals by aligning with the
business mission and vision. The marketing strategies increase the market share and brand
awareness included in the marketing plan (Abaev and et al., 2020). This also includes a
description of a company's current marketing position, a discussion of the target market, and
a description of the marketing mix a company will use to achieve its marketing goals. A
marketing plan has a formal structure, but it can be used as a formal or informal document,
which makes it very flexible. It includes some historical data, future predictions, and methods
or strategies to achieve the marketing goals. Marketing plans start with identifying customer
needs through market research and how the company can meet those needs while getting an
acceptable return on investment. The report is based on the marketing plan for the live
concert taking place in Hot Milk.
Main body
Marketing plan
The SOSTAC model is used to create the marketing plan, which shows the step or
actions that will be used to achieve the plan objectives. This is a marketing model developed
by PR Smith in 1990 (Al-Noori, W.J.A., 2019). The structure of SOSTAC is a simple logic,
which is based on a detailed situation analysis and which informs later decisions about
strategy and tactics. The crystal-clear logic enables better decisions and thus better plans. The
marketing plan includes the following:
Summary- The marketing plan is drawn up for the live concert. Concert is a live
music performance in front of an audience. The performance can be performed by a single
musician, sometimes referred to as a recital, or by a musical ensemble such as an orchestra,
choir, or band. Concerts take place in a variety and size of settings, from private homes and
small nightclubs, specialty concert halls, amphitheatres and parks to large multi-purpose
buildings such as arenas and stadiums. Hall concerts in the largest venues are sometimes
referred to as arena concerts or amphitheatre concerts. Informal names for a concert are show
and gig. The musicians appear on the stage. The concerts require live event support with

professional audio equipment. There are several musicians performing in large venues or a
mass audience through electronic media. The type of concert varies depending on the music
genre, individual performers and venue. Concerts by a small jazz combo or a small bluegrass
band can have the same order of program, mood and volume, but vary in music and clothing
(Bonaparte, Y.L., 2019). Likewise, a particular musician, band, or genre of music can attract
concertgoers with similar clothing, hairstyle, and behaviour. The world's leading live
entertainment company Live Nation Entertainment (LNE) produces more concerts, sells more
tickets and connects more brands to music than anyone else in the world. Live Nation
Entertainment, Inc. produced over 29,500 events in 40 countries over the past year and is a
company dedicated to its core value of maximizing the live concert experience.
Objective- The performing of concert has objective of making gathering of crowd so
that high level of human ambition and creative truthfulness can be promoted through
composition, certification and music presentation. The development of an analytical, creative
and intuitive understanding of music as a cultural language. Enrich the campus and the region
through concerts, workshops and other public events and offer students, lecturers, guest
artists and members of the community opportunities for traditional and contemporary musical
expression. The other objective is Promote program initiatives that help develop the audience.
Occasionally generate themed and festival programs with broad appeal.
Mission- Our mission is to bring our concert goers the greatest and unique quality
entertainment the music industry has to offer. Also to meet the performance needs of artists
with professionalism and expertise. We will establish an excellent business relationship with
every owner of the arena so that the event is profitable for everyone involved.
Product- There will be a live concert an outdoor one-day music event lasting for five
hours in which there will be activity of Google AdWords, Shopping centre poster campaign,
Through the door leaflets, Regional TV campaign, National TV campaign, Cinema, National
daily newspaper (Braun, and et. al., 2017).
Situation analysis- It mentions to a gathering of methodologies that managers use for
determining a company's internal and external environment in order to comprehend the
company's capabilities, customers, and the business environment. This examination can
include several analysis methods, such as, SWOT analysis, and STP analysis. It helps in
identify opportunities and challenges, both internally and externally for the live concert
performed in crowed area at Hot Milk.

SWOT analysis- It refers to strategic planning and strategic management techniques used
to assist a person or organisation in identifying strengths, weaknesses, opportunities, and
dangers connected to business competitiveness or project planning. (Fabre Hernández, A.,
2021).
 Strength- The strength for live concerts in Hot Milk will be a large number of small
venues and concert organizers, as well as a pronounced specialization in the area of
early music / historical practice of new music. Its diverse, high-quality offer as well as
its dynamic market (high rotation speed of ensembles / musicians, huge music
academies NL) for live concerts (Wilson, L., 2019).
 Weakness- The weakness can lie in the vulnerability of small venues (financial,
speed of rotation of volunteers, limited professionalism), non-transparent organization
of the cultural area (too many duplicates), insufficient awareness of international
opportunities, lackluster image of classical music.
 Opportunities- During a live concert, the possibilities of cooperation, program
coordination, network formation, fusion, increasing and improving the marketing of
specialty areas (focus on USP), increased market dynamics, full possibilities for new
initiatives (innovation), full possibilities for new initiatives (innovation), New media,
new forms of presentation, increasing audience due to the aging population (Ferr
Belda, C., 2021).
 Threats- Threats in the live concert are high pressure to professionalize the
volunteers, budget cuts, trend-oriented government policy (change of cabinet /
ministerial responsibility), increase in international competition (quality), reduced
commitment to the genre, more importance than export, competition from the
entertainment industry, multicultural influences, experience culture.
STP Analysis- The STP advertising model (segmentation, targeting, positioning) is a
famous strategic technique in current advertising. It is one of the maximum broadly used
advertising fashions in practice, with advertising managers attributing to it an efficient,
streamlined conversation practice. STP Marketing specializes in business effectiveness,
deciding on the maximum treasured segments for a company, and growing a advertising
blend and product positioning method for every segment (Mehmet, M., Roberts, R. and
Nayeem, T., 2020).

 Segmentation-The segmentation enables in figuring out the area of interest markets
with precise needs, mature markets for locating new customers, turning in extra
centred and powerful advertising messages. The marketplace may be segmented on
the premise demographics, Psychographics, Lifestyle, Geographic, and behaviour.
The segments encompass concerts, ticketing, sponsorship and advertising. The
Concerts phase consists of the merchandising of stay song activities global and its
personal and operated venues in addition to rented 0.33 parties.
 Targeting- This evaluates the capability and business beauty of every phase on the
premise of standards size, money, distinction etc. It has to goal and all of the selective
regions in companies for you to preserve the age, companies, income, subculture etc.
Our method is to goal humans among a long time of 18 and fifty-four as they
constitute the most important organization of track customers and live performance
goers. We'll attain out to 18–34-year-olds through selling a number of the modern and
maximum heart-breaking talent. For our 35-fifty-four organization, we are able to be
advertising our older and as a substitute unnoticed artist who this age organization
from the Nineteen Sixties to Nineteen Eighties will understand from their school /
university days in conjunction with the alternative R&B artists and the track they
enchantment to.
 Positioning- The performing of live concert need to maintain their social media and
online platforms where they can improvise their marketing channels through
traditional media, newspapers, banners to get people's attention (Mehta and et.al.,
2019).
Tactics- Marketing tactics are a series or set of strategic methods or actions aimed at
promoting a company's goods or services. The goal is to maximize sales and maintain a
competitive good or service. This involves the tactic of marketing mix.
Marketing mix- The marketing mix refers to a series of actions or tactics that a
company uses to promote its brand or product in the market. The 4Ps form a typical
marketing mix - price, product, promotion and location.
 Product- In marketing strategy, the product is not viewed as a tangible product, but
rather as the source of value to be delivered to the customer. Value to Music Concerts
customers can be delivered in a number of ways, such as: B. through word of mouth,
quality-assuring brand names, convenient availability, physical product, etc. The

market research and customer research are carried out to determine the needs of
customers, which Music Concert can meet with its existing and acquired resources
(Moscato and et.al., 2019.). The product was developed based on the value
proposition that customers are looking for and that Music Concert can deliver. Key
considerations for product design and testing are customer value proposition,
regulatory requirements, music concert capabilities and resources, opportunities for
differentiated positioning, and profitability.
 Price- pricing is a highly complex activity that only covers a very limited aspect of
what goes into price decisions. The conceptually perceived value is the maximum
price a customer is willing to pay for a Music Concert product in the given
competitive environment. The cost-based pricing strategy in Music Concert can figure
out what it takes to make the product and set a markup based on the profit you want.
In a highly competitive strategy with dynamic pricing, the strategy may not be
feasible. Value base pricing is a pricing strategy based on the customer's perception of
value (Munro, K., 2017). It gives a clear understanding of elasticity of demand and
competitive pressure. The competitive pricing strategy is based on the competition in
the market. As part of this strategy, Music Concerts is focused on getting competitive
prices and focusing on reducing operating costs to increase profitability.
 Place- Location or channel is a series of processes through which Music Concert
delivers its products to customers. Sales and marketing channels fulfill various
purposes such as logistics, providing product quality assurance, reducing the size of
the shopping lot, creating purchase opportunities for individual customers, after-sales
and installation services, enabling product adjustments at the point of sale, easy
availability of products for end consumers, provision an extensive product range with
the width, length and depth of the product line and provision of customer information
on the products (Sethia and et.al., 2018).
 Promotion- Promotion Mix or Integrated Marketing Communication Strategy is a
mixture of different advertising materials that Music Concert provides. These are
advertising, sales promotion, in-person sales, public relations, and direct marketing.
Music Concert can use all of these five means of communication to let customers
know about the existence of the product, the price of the product, the differentiators of
the product and the places where people can buy products, and finally, how
consumers can use the product effectively or service (Shields and et.al., 2019).

Action plan- Action plans are simple lists of all the tasks you need to do to achieve a
goal. They differ from to-do lists in that they focus on achieving a single goal. This covers
the cost and budget in the marketing plan for the music live concert (Solomon, M.R.,
Marshall, G.W., Stuart, E.W., Barnes, B.R., Mitchell, V.W. and Tabrizi, W., 2019). It
contains several sources of reserves to ensure the company's growth. In order to endure the
financial expense and outflow, the association is obliged to reach and record all financial
material in order to improve the monetary position. In order to fully conduct financial
operations, it is important to have a budget that will help keep a full record of the reserves
and expenses so that the company can keep all operations up and running and understand the
funds quickly.
Cost for Current concert at Hot milk
Cost of location = £ 16k per 1-hour set.
The concert will last for 5 hours.
So,
Cost of location = 16 * 5 = £ 80k.
Other costs,
Venue cost = £ 175000
Capacity of venue = 25000 tickets
Cost of insurance = 620* 25000 /500 = £ 31000
Various marketing costs
Activity Cost Ticket
sold
Cost Result Revenue
Google
AdWords
£3 per click
thru
1800 10000
clicks
30000 £40 per ticket
18 sales per
100 click
thrus
72000
Shopping
centre
poster
campaign
£2,000 per 4
calendar
weeks
1250 1250 8000 £40 per ticket
5% of centre
footfall
50000
Through
the door
leaflets
£3,000 for
leaflets
dropped
through
10,000 doors
3750 3750 3000 £40 per ticket
375 tickets
sold
15000

Regional
TV
campaign
£100,000 to
create simple
28 sec film
7250 100000 £40 per ticket
1450 sales per
campaign
290000
National
TV
campaign
See Regional
TV for costs
of making the
commercial
£100,000 for
a peak time
campaign in 3
prime slots
per day, any
commercial
TV channel of
your choice
including
YouTube for
14 days
6580 100000 £60 per ticket
470 sales per
day
394800
Cinema See Regional
TV for costs
of making the
commercial
£1500 for 1
cinema for 1
month
3150 1500 £50 per ticket
105 sales per
day
157500
National
daily
newspaper
£2500 per half
page,
circulation
200,000
1220 2500 £60 per ticket
1% of
circulation
73200
Total Cost = 80+ 31000+ 30000+ 8000+ 3000+ 100000+ 100000+ 1500+ 2500 = £ 276080
Total Revenue = 72000+ 50000+ 15000+ 290000+ 394800+ 157500+ 73200 = £ 986600
Profit = 986600 – 276080 = £ 710520
Controlling plan- It is the final step in the marketing plan, where the marketing efforts are
monitored and the marketing mix adjusted to reflect changes in the market. It requires four
management functions - analysis, planning, implementation, and control to direct the
marketing efforts and help achieve desired business goals and objectives The music live
concerts will use techniques of bench marking and key performance indicator for
performance evaluation (Thomson and et.al., 2018).

Conclusion
From the above report it was concluded that the business plan is the most important
document drawn up by the managers and senior management working on the creation of the
new company to collect and plan the actions, all in the source of the information, which is
desired in the company. The marketing plan is intended to support our client in starting a new
business by clearly presenting the marketing strategy and business plan. Marketing strategies
have been implemented to increase profitability and productivity. Developing marketing
strategies in branding and marketing mix strategies enables live concerts to connect with
target audiences and create a competitive advantage that sets the company apart from its
competitors
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