Organizing a Successful Music Festival in Victoria, London

This report from Desklib provides a detailed analysis of organizing a music festival in Victoria, London. It covers the advantages and disadvantages of zero hour contract workers and agency staff, the demand for festival events in the UK, and strategies for expanding the business. The report also includes information on the festival's USP, target market, and marketing strategies.

Running head: INTRODUCTION TO BUSINESS
Introduction to Business
December 17
2018

INTRODUCTION TO BUSINESS 1
Table of Contents
Introduction................................................................................................................................2
Part 1 Outline of Business Venture........................................................................................2
Map showing Victoria, London.........................................................................................3
The USP of Music Festival....................................................................................................3
Business Type........................................................................................................................3
Research.................................................................................................................................4
Demand for Festival Events in United Kingdom...................................................................4
The Demand for Music Festivals.......................................................................................5
Part 2......................................................................................................................................5
McCarthy’s 4Ps..................................................................................................................5
Employees/staff..................................................................................................................7
Advantages of Zero Hour contract workers.......................................................................8
Disadvantages of Zero Hour Contract Workers.................................................................8
Advantages of Agency Staff..............................................................................................9
Disadvantages of Agency Staff..........................................................................................9
Target Market.....................................................................................................................9
Part 3................................................................................................................................10
Expanding Business.........................................................................................................10
Conclusion................................................................................................................................10
References................................................................................................................................11

INTRODUCTION TO BUSINESS 2
Introduction
Skills of event management are said to be the capability to apply skills of project
management to introduce large-scale business and social events like conferences, ceremonies,
conventions, formal parties, festivals, or concerts, etc. The skills of event management,
basically, need an individual to work in the prescribed budget, following some schedule and
managing the vendors to design and develop the best events demanded by the clients
(Radvansky and Zacks, 2014). The aim of this report is to develop an understanding of
organizing an event to attract more and more customers. The report will be comprised of a
Music Festival that will be established in the United Kingdome market to make people aware
of the different positive aspects of the event. It will provide a detailed analysis of the event
such as price, product, place, and competitors.
Part 1 Outline of Business Venture
The la Musique is a music festival that will be held in Victoria, London. It is very important
to manage the event with proper planning, and approaches of the management. This festival
will provide advantages to the healthy and desirable society by justifying the diverse negative
influences of other problems. To attain the unbelievable potential of the festival, sustainable
festival organization of music celebrations should be adopted and extended as fundamental
practice. This Music Festival will also organize different entertainment programs such as
games for kids, and youngsters, food and beverages facilities, family-friendly events.
Victoria is very close to numerous of the best attractions of London with easy access to
Buckingham, luxury hotels, Westminster, great restaurants, and top musicals. This place is
one of the busiest transport hubs of London, so it makes easy to get around (London Tool Kit,
2018).

INTRODUCTION TO BUSINESS 3
Map showing Victoria, London
Source [(The Culture Trip, 2018)]
The USP of Music Festival
Location – The location of the festival in London, the most famous destination of tourism in
the world, enticing approx. 30 million visitors from different nations yearly. Tourist travel
here from all the different areas of the globe to appreciate impressive monuments of London,
discover the city’s vibrant culture and possibly take in a dramatic performance in the West
End (London Tool Kit, 2018).
Best Music Artist – The Music Festival will invite best music artists from around the world
with fresh talent to celebrate the most amazing festival.
Business Type
The Music Festival possesses a partnership structure, as three friends of the University of
Cambridge that is John, Revel, and Dazy introduce it. The partnership is one of the formal
business settings under which two or more parties collaborate to organize and run a business
(Glasby and Dickinson, 2014).

INTRODUCTION TO BUSINESS 4
The Music Festival partnership will be comprised of a distribution of equal liabilities and
profits among all the three partners. The partnership structure has been chosen because it can
be created deprived of fulfilling any kind of legal formalities. No formal papers are needed to
be prepared as like in the joint stock company’s case. An agreement that can be written or
oral is enough to get into partnership. Even the partnership registration is also not required.
Research
A music festival is a social event concerned with singing live performances and playing of
musical instrument that is most accessible with a subject like the musical genre (classical
music, blues, jazz), locality of artists, or holiday. Frequently music festivals involve other
attractions too like merchandise and food selling, performance art, cultural activities, or
dance (BBC News, 2018). Numerous festivals are organized in the United Kingdom that can
raise competitor for la Musique such as Jorvik Viking Festival, York, Hay Festival, Hay-on-
Wye, Wales, Aldeburgh Festival, Suffolk, Isle of Wight Festival, and Glastonbury Festival
(Expatica, 2018).
Demand for Festival Events in United Kingdom
The sector of event or festivals is valued at around £42.3 billion to the economy of United
Kingdom in relation to direct spending by the attendees, organizers, and event delegates, it is
around 8% rise compared with the data of previous report. A considerably greater figure is
attained once the broader economic influences are incorporated. The investment by the
associated attendees at the events of business is worth an added £7.7 billion (Event Brite,
2018)..
Around 1.3 million events are organized in the United Kingdom. Those appearing to these
events spent £40 billion, and the segment produces around £20.6 billion in terms of gross
value added and around £58.4 billion in terms of gross domestic product.

INTRODUCTION TO BUSINESS 5
The Demand for Music Festivals
In 2015, around 10.4 million tourists travel for music and spend over £2.3 billion. Over 41%
audience of live music is considered as the tourist for music. Abroad tourist for music spends
around £657 each in the United Kingdom. It is projected that over 24,251 permanent jobs are
constant in music tourism (Event Brite, 2018). Considering the presented data, it could be
said that there is huge demand for music festival in the United Kingdom that is going to
increase in the coming future with increasing interest of people in the music.
Part 2
McCarthy’s 4Ps
Place
Victoria is very close to numerous of the best attractions of London with easy access to
Buckingham, luxury hotels, Westminster, great restaurants, and top musicals. This place is
one of the busiest transport hubs of London, so it makes easy to get around (Foxtons, 2018).
London Victoria station is the main train stations of the city. For the lovers of art, Victoria is
certainly one of the finest areas of London to visit, with tranquil entree to two of famous
musicals of London. With the walking distance from Victoria Station, the Apollo Victoria is
famous for holding hot musical (Visit London, 2018). Another one is West End sensation
Wicked which has collected around 100 international honors and possesses an inspiring 35,
00 presentations under its girdle. This location is perfect for attracting the maximum number
of tourist to visit the Festival of la Musique. However, there are numerous other festivals too
in the United Kingdom that can raise huge competition and those are Jorvik Viking Festival,
York, Hay Festival, Hay-on-Wye, Wales, Aldeburgh Festival, Suffolk, Isle of Wight Festival,
and Glastonbury Festival (Expatica, 2018).

INTRODUCTION TO BUSINESS 6
Price
The Music Festival will change very nominal charges from the participants and audience
such that they can enjoy the event with full heart. The Price structure is as follows:
Item Cost (£)
Public Institutions 1300
Charges from Participants 1200
Volunteer collection 700
Sponsorships 3500
Total 6700
The Festival will adopt the strategy of price penetration under which price of the services is
set affectedly low in order to gain market share rapidly. This strategy is adopted at the time
when a new service or product is established in the market (Adhikari, 2018).
Product
The Music Festival will offer the chance to the audience to listen to different music genre live
such as classical, pop, jazz, etc. Besides this, the event will involve a different type of
entertainment such as games, dance, craft, merchandising, food, etc. This event will be a
mixture of entertainment and fun. Moreover, the event will invite different big artists from all
around the world to be giving a guest appearance and encourage new and emerging talent.
Promotion
Every business size needs to understand the importance of promotion and marketing
approaches. Business endorsing is a lively course, which requires to be closely inspected for
getting the best consequences. Business can make use of workforce in order to come up with
best strategies and flourish in the market. Promotion is said to be the voice of the business,

INTRODUCTION TO BUSINESS 7
which speaks out the message of the brand clear and loud to the customers (P¿rez and Luquis,
2013). In order to promote la Musique Festival, the management of the event needs to get the
support of different mass promotional strategies such as television, radio, billboards,
hoardings, etc. The organizers can make use of sales promotion, and personal selling in order
to increase the awareness of the event among customers.
Furthermore, to promote the event it is very important in today’s market to make use of social
media. Social media is the most profitable methods of digital marketing utilized to syndicate
the information and increase the visibility of the business. Executing a strategy of social
media will significantly enhance the recognition of the festival, as it will be involved with the
wide-ranging audience.
Employees/staff
Job Roles to Business Employees
The la Musique is a partnership event between three college friends that are John, Revel, and
Dazy. John is at the position of manager, he will look out all the important strategies needed
to manage the event and make it a big success.
Role of Manager
John being a manager is responsible for supervising a group of employees in the business.
Besides this, he needs to update his leadership skills in order to handle all the employees such
that they can provide goods productivity (Aitken, 2013).
Revel is the CA student; therefore, he is responsible to manage the financial department by
undertaking the financial analyst post in the partnership.
Role of Financial Analyst

INTRODUCTION TO BUSINESS 8
The responsibilities of Revel are to identify different sources for raising fund for the event.
Besides this, he will be liable to manage the cash inflow and outflow in the business setting
(Leins, 2018).
Dazy is pursuing Masters in Business administration and she will look out the human
resource department
Role of Human resource manager
The major role that will be performed by Dazy is to hire employees such as event
management team, staff, etc.
Advantages of Zero Hour contract workers
Flexibility
These types of workers can be mainly attractive to people who require flexibility of being
capable to start their work at any time, or in other words having no specific schedule (Davies,
2013).
Extra Income
As there is no specific prescribed time of working, another most advantage of zero hour
contract workers is to pack in extra hours since they are accessible at any time.
Disadvantages of Zero Hour Contract Workers
Low Income
Considering the case of Zero hour contract workers there is no fixed income for them, they
are called at the time there need is raised.

INTRODUCTION TO BUSINESS 9
Advantages of Agency Staff
Expertise
Agency staff mostly possesses some level of expertise that far surpasses some employees of
the department of human resource.
Cost
Making use of agency staff results in lower costs related to appointing satisfactory staff to
recruit applicants.
Disadvantages of Agency Staff
Lack of Control
For the human resource department of a business, it becomes very tough to have a control
over the procedure of hiring.
Communication issues
The biggest disadvantage of operating with the third-party recruiters is the communication
(Lavoie, 2017).
Target Market
There is majorly two kinds of target market for the Music Festival in the United Kingdom
market is participants and audiences. Therefore, the participation of both parties is very
important for the success of the event. Framing different policies of marketing is to attract
both types of target market and enhance the base of the customer. Depending on the different
Music events, the overall market will be divided into demographic, psychographic, and
geographic factors. The key agenda of segmenting the market is to analyze the demand of the
customers. The number of events in the Music Fest must be decided by surveying the target
market.

INTRODUCTION TO BUSINESS 10
The Cohort Customer of the Must Festival is the famous artist through which the organizers
can attract customers in the market.
Part 3
Expanding Business
The idea of organizing Music Festival in the Victoria, London will result in a great success
because of its USP i.e. attractive location with high rate of tourism.
The la Musique festival will expand its business in future with the help of different strategies
such as
Market Expansion
A market expansion strategy, mostly known as market development, comprised of the
concept of selling current services in the new market. There are numerous reasons due to
which it needs to think of market expansion strategy that is competition (Kim and
Mauborgne, 2015). The la Musique festival will expand its events in different countries such
as Australia, Belgium, etc. to invite more participants and audience.
Conclusion
From the above analysis, it could be concluded that the la Musique Festival will be a great
success with the professional skills of three partners of the event that are John, Revel, and
Dazy. The festival will make use of mass marketing strategy in order to increase the
awareness of the event among audience and participants. Moreover, it will make use of price
penetration strategy in order to get the attention of customer in the United Kingdom. The
organizers are focused on future growth, therefore; it has been decided to make use of market
expansion strategy in the future to expand the event at different locations.

INTRODUCTION TO BUSINESS 11
References
Adhikari, A. (2018) Strategic Marketing Issues in Emerging Markets 1st ed. Germany:
Springer.
Aitken, T. (2013) The Multinational Man (RLE International Business): The Role of the
Manager Abroad 2nd ed. U.S: Routledge.
BBC News (2018) Music festivals: What's the world's biggest? [online]. Available from
https://www.bbc.com/news/world-44697302 [accessed 17 December 2018]
Davies, A. (2013) Pros and cons of zero hours contracts [online]. Available from
https://www.totaljobs.com/insidejob/zero-hour-contracts/ [accessed 17 December 2018]
Event Brite (2018) An Introduction To The UK Event Industry In Numbers [online].
Available from https://www.eventbrite.co.uk/blog/academy/uk-event-industry-in-numbers-
ds00/ [accessed 17 December 2018]
Expatica (2018) Top UK festivals 2018 [online]. Available from
https://www.expatica.com/uk/about/Top-festivals-in-the-UK_515338.html [accessed 17
December 2018]
Foxtons (2018) Victoria Area Guide [online]. Available from
https://www.foxtons.co.uk/local-life/victoria/ [accessed 17 December 2018]
Glasby, J., and Dickinson, H. (2014) Partnership Working in Health and Social Care: What
Is Integrated Care and How Can We Deliver It? 1st ed. U.S: Policy Press.

INTRODUCTION TO BUSINESS 12
Kim, W.C., and Mauborgne, R. (2015) Blue Ocean Strategy, Expanded Edition: How to
Create Uncontested Market Space and Make the Competition Irrelevant 3rd ed. U.S: Harvard
Business Review Press.
Lavoie, L.M. (2017) Four disadvantages of third-party recruiters [online]. Available from
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December 2018]
Leins, S. (2018) Stories of Capitalism: Inside the Role of Financial Analysts 1st ed. Chicago:
University of Chicago Press.
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December 2018]
P¿rez, M.A., and Luquis, R.R. (2013) Cultural Competence in Health Education and Health
Promotion 2nd ed. U.S: John Wiley & Sons.
Radvansky, G.A., and Zacks, J.M. (2014) Event Cognition 1st ed. U.K: Oxford University
Press.
The Culture Trip (2018) Map of London [online]. Available from
https://theculturetrip.com/europe/united-kingdom/england/london/articles/top-things-to-see-
and-do-in-london-victoria/ [accessed 17 December 2018]
Visit London (2018) London Victoria [online]. Available from
https://www.visitlondon.com/things-to-do/london-areas/victoria [accessed 17 December
2018]