Marketing Plan: H&M's UK Music Event for New Fashion Product Launch

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Added on  2023/06/10

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AI Summary
This report presents a marketing plan for H&M to launch its new fashion range in the UK market through a music event. The plan includes market research to identify the target audience (16-30 year olds), and strategies involving social media promotion, and the use of a popular artist, Ed Sheeran. The marketing plan outlines goals and objectives, media tactics, and a detailed budget. The event will be held at a suitable venue and the fashion products will be showcased. The report also details the ticketing strategy and pricing, and marcom activities for promoting the event. The conclusion highlights the benefits of the marketing plan and the overall success of the event. The report is based on the assignment brief focusing on a music event for Live Nation and provides comprehensive details on all aspects of the marketing plan.
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ORGANISE ONE MUSICAL
EVENT
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EXECUTIVE SUMMARY
The current report will include the details about the promotional event that will be
organized by H&M for the UK population in order to successfully launch their new range of
products in the market. The organization will organize a concert for the promotion of their
products and increasing the engagement of the customers.
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INTRODUCTION
Marketing is referred as a practice which is useful for an organization in order to promote
their products in the market and gain competitive advantage in the industry. The current report
will be based on H&M which is a popular fashion brand in the UK and has a wide network in the
industry. The report will explain the details of the event that has been organized by H&M in
order to launch their new range of fashion wear for men.
MARKETING PLAN
Market Research
H&M has decided to launch their new range of fashion wear in the UK marketplace with
the help of a music event. The organization will attract potential customers by inviting a famous
artist such as Ed Sheeran to perform in the event which may be useful in order to engage more
customers towards the launch event. We will display the range of products in the musical event
for gain better recognition from the customers. A proper research may be conducted by the
business in order to increase their benefit from the event and improve their market image. The
company will analyse the different factors which are associated with the business. These aspects
may have a significant impact on the event and may incur various barriers which may not be
useful to successfully launch the products in the market.
Target Audience
The organization may target the customers of the UK region and prepare effective plans
for increasing their interest in the business. The customers from the age of 16-30 years will be
preferred as the target audience which will be aggressively targeted by the business in order to
gain competitive advantage. The company may introduce interesting practices in order to invite
the customers towards the event which will be beneficial for the management in order to increase
the quality of their output. These targeted customers will be successfully positioned by us for
increasing awareness of the event among and improving the popularity of this event (Baxter,
Flinn and Picco, 2018). This step may be one of the most important part of the targeting process
which may help the organization to gain the maximum benefit. By increasing awareness among
the customers appropriately, H&M may be able to effectively target customers and gain
competitive advantage in the industry.
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Market Strategies
We will advertise the event with the help of various social media platforms in order to
connect with the audience appropriate and increase their interest towards the business practices.
H&M will post interesting content on their social media handles for engaging the customers and
providing them with a better experience of the event. The organization will promote their event
with the help of Ed Sheeran who is a popular artist and has a huge fan following. By advertising
the event on his social media also, the business will be able to gain better advantage and improve
the overall sustainability of the organization (Bradley, 2021). With the help of marcom activities,
the business may be able to identify their desired target audience and make effective strategies
for appropriately targeting them. These practices may be helpful for them to set various
communication channels among the customers and the business and increase the engagement
towards buying the products. These practices may reduce pressure from the organization and
increase its chances of gaining a better recognition in the industry. With the help of these
practices the management may adapt better strategies for improving the success of the event.
Goals and Objectives
The main aim of this event is to increase the popularity of the new range of products that
are launched by the organization. Ed Sheeran is one of the most popular music artist which will
help the organization to gain the attention of the customers and improve the benefit of the
business in the business environment. The organization focuses on improving the reach of their
products and increase their profitability in the UK marketplace (Firmansyah and et.al., 2020).
The organization may increase their market share with the help of this event as several potential
customers may visit the concert and develop their interest in the products offered by H&M. The
company may look forward to increasing their overall efforts towards the appropriate
management of the event. It may provide the organization with a better approach in order to
increase the outcome of the business successfully.
Media & Tactics
This event will be promoted by the media on several social media channels and platforms
for increasing the reach. The live streaming may increase the engagement of the customers
towards buying products of the organization. We will conduct several promotional practices for
the success of this event such as printing and pasting posters of the events on several places
around the city. The company will run certain ad campaigns for the event and increase the
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engagement of the customers towards the business. This branded event may help in providing an
overall idea of the reaction of the customers towards the organization. The company may use
certain promotional techniques which may improve the influence of this event on the target
audience and may be helpful in increasing the overall benefit of the organization.
Budget
There will be several costs that may be incurred by the business while promoting and
organizing their event. These expenses may be explained with the help of a budget in order to
highlight the key costs that have been bearded by the business.
Particulars Amount()
Artist fees 35000
Venue Cost 185000
Insurances 37500
Theme Costs 20000
Total 277500
Action
The organization may prepare a proper plan to conduct the practices of the event
successfully. The venue decided by H&M for is the Venue Hire in UK which is a popular event
space that may conduct several events of different artists. It may be suitable for the organization
in order to successfully allocate the plans on the basis of the capacities that have been decided by
the management. This venue is located in the outdoors having a beautiful view and various
attractive elements that are used for providing a better experience to the customers. We will try
to provide all the required facilities such as parking, toilets, staffing etc. to our customers in
order to give them with a better experience of the concert. The organization will display the
fashion products of their business with the help of the Ed Sheeran and their crew members (Han
and et.al., 2019). It will give the products to them in order to perform and showcase the brand to
the audience. With the help of this practice we will be able to encourage the customers to try the
products of the organization and improve their buying behaviours towards the business. This
approach will be useful for the company for increasing the motivation of the customers in order
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to buy the products and increase the overall profitability of the business. These activities of the
brand to improve its market image and gain the trust of the customers towards the company.
The tickets of the events will be sold through the official website of the Live Nation
where the customers may reach and book the tickets for experiencing the concert. The website
may provide each and every detail of the event to the customers which may help them to develop
their interest to visit the concert. The management may put the facilities and products that may
be provided by the organization to their customers which may have a positive advantage on the
organization. The price point of each ticket will be decided as €50 as it may be suitable for the
customers to buy the tickets easily and increase their engagement. The target market of the
company is between the age of 16-30 years of age which may require a less investment of their
money to go to certain promotional events. These customers may consider the price point as it
may have a significant impact on their buying behaviours (Liu, 2018). This price may be suitable
for the organization to attract the customers and gain their interest towards the products that will
be launched by the organization in the upcoming event. By using this pricing strategy the
organization may be able to increase the number of people that are attending the event and target
them effectively in order to achieve competitive advantage in the industry. It may be suitable for
the teenagers as wel as the adults to spend this money and buy the tickets for the concert of Ed
Sheeran.
The launch event of H&M may be highlighted among the population of UK by properly
manage their marcomms activities such as advertisements of various platforms such as Spotify,
YouTube and other social media platforms. With the help of these aspects the business will be
able to promote an effective brand image and gain the support of these platforms in order to
successfully promote their event to the UK population. These efforts of the business towards the
events may be useful in order to gain an enhanced outcome and receive a better response from
the customers. Customers are highly active on these platforms which may be useful for the
business in order to increaser their engagement towards the event and improve their performance
of the event. Several advertisements may be prepared by the marketing department in order to
increaser the efficiency of the event and encourage the customers to buy the tickets and visit the
launch event of H&M (Sánchez-Heres, 2019). These tools may be effectively for the
organization to increase the productivity of the event and increase awareness among people
about the services that are offered by the brand to the consumers. These marcom activities of the
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business may be useful in order to manage the various requirements of the people and increase
their overall advantage in the industry.
CONCLUSION
According to the above report it has been concluded that the organization has been able to get
benefited by preparing an effective marketing plan for promoting their event to the customers. A
popular artist will be useful for the business to attract more customers towards rte launch event
and create a better image of the event among the audience. The several factors that have been
evaluated by the business may increase their ability to provide better assistance to the event
managers.
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REFERENCES
Books and journals
Baxter, D., Flinn, J. and Picco, L.F., 2018. Plan for the worst, hope for the best? Exploring major
events related terrorism and future challenges for UK event professionals. International
Journal of Tourism Cities.
Bradley, A.N., 2021. A study on the impact of social media marketing in the event industry:
Executing a marketing plan.
Firmansyah, M.R. and et.al., 2020. Marketing Plan Implementation over Business Start-up: Food
Combining at PT. BERAS JAGUNG NUSANTARA. Journal of Multidisciplinary
Academic. 4(2). pp.86-89.
Han, Y. and et.al., 2019. Robust consensus models based on minimum cost with an application to
marketing plan. Journal of Intelligent & Fuzzy Systems. 37(4). pp.5655-5668.
Liu, Y.D., 2018. Legacy planning and event sustainability: Helsinki as the 2012 World Design
Capital. Sustainability. 10(7). p.2453.
Sánchez-Heres, L.F., 2019. Simplification and event identification for ais trajectories: the
equivalent passage plan method. The Journal of Navigation. 72(2). pp.307-320.
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