Marketing Planning for a Music Event - Desklib

This marketing plan discusses the planning for a music event, including mission, vision, SWOT analysis, PESTLE analysis, Porter five forces, STP, marketing mix, and financial analysis.

Marketing Planning

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Over View of music event...........................................................................................................1
Mission, Vision and Objectives ..................................................................................................1
SWOT analysis............................................................................................................................1
Pestle analysis..............................................................................................................................2
Porter five forces..........................................................................................................................2
Pen Porter.....................................................................................................................................3
STP...............................................................................................................................................3
Marketing Mix ............................................................................................................................3
Financial analysis'........................................................................................................................3
Conclusion.......................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Marketing analyses in very important for the organisation in order to start a new event or
the business. In this marketing plan there will be the planning for the musical event. Main
feature of the event is that various singers are coming to perform in this event. In this plan there
will be the discussion on the plan, mission, vision of of the event (Yaghin, 2020). Along with
that SWOT, PORTER, STP and Marketing will be analysed in this plan. At the end of cost of the
ticket of the event will be discussed.
MAIN BODY
TASK
Over View of music event
The music event will be launched on the Harvard street, London. In this event various
singers will be coming to give their performance and for approximately ten days the event will
be going on.
Mission, Vision and Objectives
Main vision of the music event planners is to earn good amount of money and establish
as a valuable event planner in the boundary of the UK. Particularly for this event they are
planning to sold at least five thousand tickets (Hanlon, 2021). Tickets will be of three types such
as golden hour, standard and last minute.
SWOT analysis
Strengths
One of the main strength of the music event
company is that they have skilled team
members who can execute the event in a
effective manner.
Weaknesses
Major weaknesses for executing the event is
that the event company faces sometimes faces
challenges in the sourcing funds in order to
make it bigger.
Opportunities
Main opportunities that the event planners can
grab is that they can make their brand image so
Threats
One of the biggest challenge for the music
event planning company is that there are lots of
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stronger in the market of the UK. As in their
music event plan lots of singers are coming
and they can attract lots of individual towards
their event.
competitors present in the market of the UK.
Pestle analysis
Political factors: There is political stability in the market of the UK so it will be easy for the
music event planners to execute their event in the London.
Economical factors: It includes components like inflation, tax rate etc. In order to carry out the
activities of the music event they should set the reasonable price through which they can get lots
of customers towards their business.
Social factors: It means fulfilling the needs of the customers in the market. Event planners of the
music event should analyse the market demand.
Technological factors': Event planners should use effective technologies in order to produce
more attractive music event (Assenova, 2018). This will helps them to generate more revenue in
the future
Legal factors: Event planners should rely with all the laws and regulations that have been made
by the government. This will facilitates them to carry out the activities of the event smoothly.
Environmental factors: While carrying out the activities of the events planners should
considers the environmental factors and should not harm the nature.
Porter five forces
Competitive Rivalry: Event company generally faces so many competition in the market of the
UK. There is a high degree of risk of competition for carrying out the activities related to the
events.
Supplier Power: They have made healthy relation with the suppliers who sells the raw material
of the event to them. So there is low degree of the supplier power as they have many options
from where they can buy raw material.
Buyer Power: For the consumers there are many options present related to the event company.
So there is a high degree of the power of buyers related to the events.
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Threat of substitution: The plan and the theme of event can easily be copied and produced in
the market.
Threat of new entrant: Competitors kept on coming in the boundary of the UK in relation to
the event management.
Pen Porter
Event planners wanted to mainly attract the youth towards their events through which
they can advertise their event company.
STP
Segmentation: Event planner critically analyses the market on the various bases.
Targeting: After segmentation they will be able to put more focus on which market they want to
target.
Positioning: After analysing the market, they will be able to execute the effective event.
Marketing Mix
It means to promote the goods and services (Deffner, Karachalis, Psatha, Metaxas and
Sirakoulis, 2020). It consists four P's of marketing that are:
Product: Event planner will produce attractive musical event in the UK.
Price: They are using competitive pricing strategy.
Place: They will be choosing the market of UK in order to execute their event.
Promotion: They will social media in order to promote the event that will take place.
Financial analysis'
Cost for the event are shown below:
Current Nostalgic Classic
Ed sheeran $35 for 1 hour set and $20 for
the 30 minimum set.
$20 for 1 hour and $12 for 30
minutes set.
Clean bandit $40 for 1 hour set and $25 for
30 minutes set.
$15 for 1 hour set and $10 for
30 minutes set.
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Conclusion
From the above plan it can be concluded that for executing a event plan there is a needs f
the skilled people. In above plan mission and objective along with the SWOT and Pestle analysis
have been done. STP , Porter five forces and marketing plan have also been undertaken.
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REFERENCES
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Books and Journals:
Assenova, M., 2018. Scope, Specifications and Elements of Strategic Marketing planning in
Banks. Entrepreneurship, 6(1), pp.34-48.
Deffner, A., Karachalis, N., Psatha, E., Metaxas, T. and Sirakoulis, K., 2020. City marketing and
planning in two Greek cities: plurality or constraints?. European Planning
Studies, 28(7), pp.1333-1354.
Hanlon, A., 2021. Digital marketing: strategic planning & integration. Sage.
Yaghin, R.G., 2020. Enhancing supply chain production-marketing planning with geometric
multivariate demand function (a case study of textile industry). Computers & Industrial
Engineering, 140, p.106220.
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