Marketing Plan for Outdoor Music Event - Desklib

This marketing plan is prepared for new outdoor one day music event that would be lasting for five hours. The plan includes vision, mission, objectives, PESTLE analysis, SWOT analysis, competitor analysis, marketing mix, STP approach, budget, and monitoring and control. The subject is marketing planning and the course code is not mentioned. The college/university is not mentioned.

Marketing Planning exam

TABLE OF CONTENTS
MARKETING PLAN......................................................................................................................3
Overview......................................................................................................................................3
Vision ..........................................................................................................................................3
Mission ........................................................................................................................................3
Objectives ...................................................................................................................................3
Pestle analysis .............................................................................................................................4
SWOT analysis ..........................................................................................................................5
Competitor analysis ....................................................................................................................5
Marketing mix .............................................................................................................................6
STP approach ..............................................................................................................................6
Budget ........................................................................................................................................7
Budget ........................................................................................................................................7
Monitoring and control ...............................................................................................................8
REFERENCES..............................................................................................................................10

MARKETING PLAN
Overview
This marketing plan is prepared for new outdoor one day music event that would be
lasting for five hours. This is going to be public event that is going to be held in a Cafe
Restaurant which is going to be one of the very effective form of strategy that allows the learning
to be able to gain the competitive advantage for Live Nation. Event is also going to have some
emerging singer of UK that are going to be the main highlight of the event that has the aim of
gaining the growth essential.
Vision
The vision of this event is to make the music event successful and also achieve the profit from
the budget that has been created.
Mission
The mission of the music event is to be able to gain the attention of the audience that is
considered to be very effective event to generate income that is essential.
Objectives
 To earn a profit margin of more than 10%.
 To be able to gain the competitive advantage with a successful music event.
 To ensure the safety and enjoyment of the all the visitors of the music event.
Pestle analysis
Political factors Economic factors

The rules and regulations that are going to be
created by this Live Nation are going to be the
key towards the ways in which they are
business profit is going to be affected. Hence,
it is going to be important for the company to
be able to understand the key factors that are
influenced by the music event that impacts the
overall growth of the organization (Sahir and
Rosmawati, 2020).
The role of economy has been considered to
be very important for the music event, As the
inflation ratio is considered to be the key
determinant of the number of customers that
are going to visit the organization. It can be
said that the level of disposable income is also
said to be the factor that affects the customers
interest in the Live Nation event..
Social factors
The social factors affect the preferences of the
audience of the live music event that is said to
be the key factor which impacts number of
visitors that the event would have.
Understanding the preferences of the
individual in the event is essential for
understanding the music quality that is to be
delivered.
Technological factors
Technology is also said to be very helpful for
different reasons such as the security and also
the decoration of the event. It is going to be
the key towards the ways in which the
organization would be able to make the sales
and increase the marketing of the event.
Legal factors
It is going to be very important for the event
to meet all the rules and regulations of the
law. This is considered to be the key towards
making the event viable enough be launched
and also be successful enough to gain the
competitive advantage that is essential to the
event. This factor can be the reason for
getting the show cancelled.
Environmental factors
The factors which impact the performance of
the show is also considered to be the
environmental factors that are also said to be
the key towards the ways in which they are
able to understand the key requirements in the
environment and also be able to understand
the requirement of the individuals that are
required.
SWOT analysis
Strength Weakness

This event being hold in the city of London is
the key towards the ways in which it has been
able to develop the growth. The musicians
that are going to visit the Live Nation event
are going to be the centre of attraction that
would be allowing the even to grow. Other
factors such as the budget of this event is
going to be effective enough to be able to
generate more income.
This event is also considered to be facing
major competition in the market as it has a
limited space hence is not going to be able to
invite larger audience. This would result in
the event losing its potential consumers.
Focusing on the management of the key
operations of the organization would also be
very effective decision to make sure that the
company requires the growth it needs.
Opportunity
Being able to increase the marketing of this
event would be a very effective way in which
the event would be success. In order to be
able to develop the overall event the
organization would also need enhance the
marketing experiences of this organization.
Being able to use technology for live
streaming of this event would also be very
helpful for the additional promotion of this
event.
Threats
Piracy is one of the threat this event might
face which could be due to the lack of proper
security. The musicians can be threat if they
do not attend the event on the given time.
Poor understanding of the operations are
going to help the cost of stage be effective
(Raji, 2019).
Competitor analysis
Basis of difference Live nation Alpha events company
Pricing strategy The particular firm is having
the significant competitive
pricing strategy (Llopis-
Amorós, Gil-Saura and
Molina, 2018.).
The particular firm pay
attention on using cost plus
pricing approach.
Market area Domestic market International market
USP The particular firm It offers the varied range of

possessing the effective
focused on having offering
differentiation approach and
having higher quality of
service.
the service by executing
distinct form of the
conducting of events by
focusing on offering bespoke
solution.
Marketing mix
 Product: the particular firm is specialized in offering the different types of the music
event according to the requirement of clients. The products possess having effectual
insights about the higher quality & effectiveness so that effectual processing by offering
bespoke solution to the customers. The music event has higher level of effectiveness in
meeting needs of client.
 Price: there are distinct form of the pricing strategies which are basically taken into the
process by the businesses which involves penetration, skimming, cost plus, etc (Jaelani,
2020). the particular firm will focus on using the competitive approach so that
coordinating with changing market condition can become possible.
 Place: the particular firm is covering the market of UK for offering its services of
conducting event. This is basically exerted in Cafe restaurant which will help in gaining
competitive position so that effectual processing to get competitiveness can be derived.
In this area, the particular organization will permit to get the precise h ability to operate
in the domestic market.
 Promotion: there are different types of the marketing & promotion technique which helps
in achieving the appropriate ability to spread the awareness about the services. This
involves using the competitive strategies both traditional and digital techniques that
comprises which involves social media, email, spreading awareness, etc. so that effective
information about the quality and effectiveness can be provided target market.
STP approach
 Segmentation: There are four basis which are used for segmenting that involves psycho
graphic, demographic, behavioural & geographical. The current firm has given emphasis
on using the significant basis such as geographic and psycho graphic that has helped in

attracting the targeted audience. The segmentation helps in achieving the proper
information about the type of audience which are targeted so that clarity in formulation of
strategies can become possible.
 Targeting: for targeting the customers the particular firm will give attention on having the
appropriate focus on having the customers which willing to attend the event in UK and
possessing an objective of gaining peace & relaxation with help of music (Werner,
Griese and Hogg, 2020). Thee form of the customers can be attracted for accomplishing
higher revenue & profitability.
 Positioning: it is used for creating the brand image among the customer so that particular
firm for the purpose of positioning will emphasize on having effective quality service.
This will pay attention on meeting goal of customers to get higher satisfaction.
Budget
Budget
Particulars Amount
Sales 37500
Marketing expenses 6000
Cost of venue 8000
Musician Costs 5000
Singers contribution 10000
Profit 8500
Monitoring and control
For the controlling and monitoring of the event the KPI would be considered,
Sales :
The sales event is also considered the have the factor that would allow event to be able to
successfully judge and monitor the ways in which the performance of the organization would be
monitored.
Customer feedback :

From the customer feedback that is collected the success of the business can be
measured. This will provide the areas that are needed to be developed (SUH, 2021).
Email marketing engagement rate :
The rate of conversion of the event marketing of email is also said to be the ways in
which is also said to be the factor that allows the event to be able successful in the marketing
experience (The Definitive List of KPIs for Event Management, 2021).
Total profit :
The total profit that the event is going to be able to make the company to be able gain the
profit that is required. The profit of the organization is also said to be the factor that helps the
business to gain the competition.

REFERENCES
Books and Journals
Ferreira, Z. D. R., 2019. Analysis of Business Marketing Strategy in an Effort to Increase the
Sales Volume of Company X in Dili City, East Timor. European Journal of Business
and Management.
Jaelani, A., 2020. Sustainable Event and Festival In Cirebon, Indonesia: In Islamic Marketing
Perspective. Indonesia: In Islamic Marketing Perspective (December 17, 2020).
Llopis-Amorós, M. P., Gil-Saura, I. and Molina, M. E. R., 2018. The role of marketing
communications in generating brand equity for an event. Event Management. 22(5).
pp.825-848.
Raji, S.J., 2019. Introducing 5P’s Methodology as Healthcare Marketing Plan: Using 5P’s
Healthcare Marketing Plan in Diabetic Foot Care Management. Indian Journal of Public
Health Research & Development, 10(6).
Sahir, S.H. and Rosmawati, R., 2020. Improve Marketing Mix for Marketing Plan Strategic in
Coffeeshop Business. Management Analysis Journal, 9(4), pp.459-466.
SUH, J., 2021. Literature Content Analysis: Formulating Different Marketing Plan between
Wholesalers and Retailers Supervision System. Journal of Distribution Science, 19(8),
pp.91-100.
Werner, K., Griese, K. M. and Hogg, J., 2020. The Service-Dominant Logic, Value Cocreation
and the Impact on Universities ‘Event Management Curricula. Trends in Event
Education. pp.113-127.
Online
The Definitive List of KPIs for Event Management, 2021[Online]. Available through:
<https://www.eventbrite.co.uk/blog/definitive-list-kpis-event-management-ds0c/>