Live Concerts: A Comprehensive Marketing Plan Development

This report provides a marketing plan for live concerts, focusing on Live Nation Entertainment and outlining strategies to promote live music events. It includes an overview of the business, a description of the current market position, and key performance indicators. The plan utilizes the SOSTAC model, incorporating situation analysis with SWOT and STP analyses to identify strengths, weaknesses, opportunities, and threats. Tactics such as the marketing mix (product, price, place, promotion) are detailed, along with an action plan that covers cost and budget considerations. The report analyzes the effectiveness of various marketing channels, including Google AdWords, shopping center poster campaigns, door-to-door leaflets, national TV campaigns, cinema advertising, and newspaper ads, to determine the most beneficial pricing and promotional strategies for maximizing ticket sales and revenue.

Marketing plan for
live concerts

Executive summary
The marketing plan for the live Nation Entertainment is known as the worlds 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.

Table of Contents
Executive summary .........................................................................................................................2
INTRODUCTION ..........................................................................................................................4
TASK ..............................................................................................................................................4
Marketing Plan ................................................................................................................................4
CONCLUSION .............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
The word marketing plan is defined as the report which outlines the marketing strategy
for the coming year. It included the various tasks such as an overview of the business,
description of the current business position, key performance indicators etc. The main aim of
conducting a marketing plan is to clearly define the goals and objectives of the company for
achieving the mission and vision of the business organisation. The marketing strategies can lead
to increase in the market share for the company. It is very important to conduct a marketing plan
in a business to achieve the success in the industry. The marketing plan in int4roduced with the
identification of the needs and desires of the customers through the great market research and the
capabilities that how the company can meet to those needs to the customers. This report is based
on the marketing plan for the live concert taking place in Hot Milk.
TASK
Marketing Plan
In this a model is used which is known as SOSTAC. It shows the step or actions which
will be used to achieve the goals of the marketing plan . It is a marketing model which is
developed by PR Smith in the year 1990. this model has a simple logic, which is based on the
detailed situation analysis and later informs the decisions related to the strategy and tactics.
Summary- Here the marketing plan in been created for the live concert where there is the
live music perform to entertain the audience. The musicians perform in the concerts to earn
money. There are various aspects which need to be address for the good marketing plan for the
success of the organisation. It is very important to consider the various factors such as venue, the
interior, the number of audiences in the marketing plan of such events. It is also important to
have a cost budget in the plan so that it is easy to manage the rest of the things.
Objective-
 To develop the understanding of the live music in the different languages in the minds of
the people.
 To 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.

 To promote the programmes initiative which can help in developing and creating the
large audiences in the concerts.
Mission- To provide the great and unique quality of entertainment in the music industry.
Also to meet the performance needs of artists with professionalism and expertise. To maintain
the relationship between the different owners and the musicians.
Product- There will be the concert which is an outdoor event event lasting for five hours
in which there will be activity of Google AdWords, Shopping centre poster campaign, Through
the door leaflets, National TV campaign, Cinema, National daily newspaper
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 is the strategic planning in which the company can get to know about
its internal strength and weakness and as well as external opportunities and threats which can
affect the business organisation.
Strength Weakness
 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
 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 Threats
 As there is the possibilities of creating a
network through these live concerts. If
 Threats in the live concert are high
pressure to professionalize the

the one event is gone hit then there are
chances of the creating a large audience
in the live concerts.
volunteers, budget cuts, trend-oriented
government policy, increase in
international competition reduced
commitment to the genre, more
importance than export, competition
from the entertainment industry,
multicultural influences, experience
culture.
STP analysis- It is a three step process which allows the development of a specific and
actionable marketing strategy. The various steps is discussed below;
 Segmentation- This included segmentation the customers according to the area interest
of the product and services provided by the organisation. The marketplace may be
segmented on the premise demographics, Psycho graphics, Lifestyle, Geographic, and
behaviour. The segments encompass concerts, ticketing, sponsorship and advertising. The
Figure 1: FIGURE 1 - available via license: CC BYContent may be subject to
copyright., 2022

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- The targeting is said that the organisation need to focus on a specific group of
the customers which are valuable for the organisation. Here the target audience for the
live concert will be the people between age group 18-34.
 Positioning- this is referred to as the uniqueness in the product or the service from its
competitors. The company can promote through the social media which is a attractive
strategy to capture the youth. The positioning is related to being unique in nature.
Tactics-
Marketing mix- It is the combination of various factors which can be handle and controlled by
the business organisation to influence to purchase its products or services.
 Product- It is known as the offering of the organisation which is been offered to the
customer is the product. The product over here is the live concern events which is been
organised to attract customers.
 Price- The pricing strategy is the amount which is been paid by the customers over the
product or the service. Music Concerts is focused on getting competitive prices and
focusing on reducing operating costs to increase profitability.
 Place- This is referred as the channels through which the product or the service is been
delivered. The place is the location where the product is been distributed. It is very
important aspect to place the product on the right location.
 Promotion- This is known as how the organisation promotes its pr4oduct or services.
The use of the social media is the best promotional strategy in the live concerts where a
Instagram, story or the post can help out in reaching the customers.
Action plan- It is the collection of all the tasks that need to be perform in order to achieve the
goals of the organisation. 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

Cost for acts
Billie Eilish = £ 17K per 45 min set
£ 34K per 90 min
Dojacat = £ 16K per 1 hour set
Cold play = £ 18K per 30 min set
Tom Jones = £ 37K per 1 hour set
ABC = £ 37K per 1 hour set
Total cost of acts for 5 hours = 34 + 16 + 18 + 37 + 37 = £ 142
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
£2,000 per 4
calendar
weeks
1250 1250 4000 £40 per ticket
5% of centre
footfall
50000
Figure 2: How Media Consumption Has Changed Over the Last Decade (2011-
2021)

campaign
Through
the door
leaflets
£3,000 for
leaflets
dropped
through
10,000 doors
3750 3750 3000 £40 per ticket
375 tickets
sold
150000
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
2850 1500 £60 per ticket
95 sales per
day
171000
National
daily
newspap
er
£2500 per half
page,
circulation
200,000
8770 2500 £25 per ticket
5% of
circulation
219250
Total 25000 141000 1057050
Checking out the results that could be derived by selling the tickets from above methods of sales
Selling throgh Google adwards
£60 per ticket 5 sales per 100 click thrus = 60 * 5 = £ 300
£50 per ticket 12 sales per 100 click thrus= 50 * 12 = £ 600
£40 per ticket 18 sales per 100 click thrus = 40 * 18 = £ 720
£25 per ticket 23 sales per 100 click thrus = 25 * 23 = £ 575
Cost of 100 clicks = 3 * 100 = £ 300

According to the above calculation, it is preferable to set the price to be £ 40 which would be
most beneficial to the firm. It is expected that they can sale around 1800 tickets from this
platform as today people are really active on digital media. For this, their would be a need of
10000 clicks in exchange of which their would sale of 1800 tickets. This would cost around £
30000 and revenue would be generated around £72000.
Selling through Shopping centre poster campaign by assuming that 25000 people will enter there
£60 per ticket 1% of centre footfall= 60 * 25000 * 1 % = £ 15000
£50 per ticket 3% of centre footfall= 50 * 25000 * 3 % = £ 37500
£40 per ticket 5% of centre footfall = 40 * 25000 * 5 % = £ 50000
£25 per ticket 7% of centre footfall = 25 * 25000 * 7 % = £ 43750
Cost of 8 calender weeks = 2000 * 2 = £ 4000
It is expected that 25000 people would enter the shoppimng centre in 8 weeks whcih
means that it would cost £ 4000 for poster campaining obev their. As per the calculatuions made
above, it is preferrable to sale out the ticket at £ 40. For this theie would be a need of selling of
5% tickets.
Selling throgh the door leaflets
£50 per ticket 280 tickets sold= 50 * 280 = £ 14000
£40 per ticket 375 tickets sold = 40 * 375 = £ 150000
£25 per ticket 500 tickets sold = 25 * 500 = £ 12500
It is expected that 3750 tickets cosuld be sold through door leaflets by setting the price to be £
40.
Price = 40 * 3750 = £ 150000
Cost of leaflets dropped through 10,000 doors = £ 3000
Selling throgh National TV campaign
£60 per ticket 470 sales per day= 60 * 470 * 14 = £ 394800
£50 per ticket 500 sales per day= 50 * 500 * 14 = £ 350000
£40 per ticket 580 sales per day = 40 * 580 * 14 = £ 324800
£25 per ticket 700 sales per day = 25 * 700 * 14 = £ 245000
Cost of campaign = £ 100000
It would be beneficial for the team to sell their tickets at £ 60 where it could sell 470 tickets per
day and can earn maximum amount. The number of tickets sold would be 470 * 14 = 6580

Selling throgh Cinema
£60 per ticket 95 sales per day= 60 * 95 * 30 = £ 171000
£50 per ticket 105 sales per day= 50 * 105 * 30 = £ 157500
£40 per ticket 140 sales per day = 40 * 140 * 30 = £ 168000
£25 per ticket 165 sales per day = 25 * 165 * 30= £ 123750
Cost of Cinema = £ 1500
This would be really beneficial for the organisation to sell its tickets at £ 60 as through this by
selling only 95 * 30 = 2850 tickets it could arrange maximum amount.
Selling throgh National daily newspaper with circulation 200,000
£60 per ticket 1% of circulation= 60 * 200,000 * 1% = £ 120000
£50 per ticket 2% of circulation= 50 * 200,000 * 2% = £ 200000
£40 per ticket 3% of circulation = 40 * 200,000 * 3% = £ 240000
£25 per ticket 5% of circulation = 25 * 200,000 * 5%= £ 250000
Cost of National daily newspaper = £ 2500
Remaining tickets = 25000 – 1800 – 1250 – 3750 – 6580 – 2850 = 8770 tickets
From the above all calculations, it is estimated to set the price at £25 for selling the whole
remaining 8770 tickets. It will bring income of 8770 * 25 = £ 219250
Total Cost = 141000 + 142 + 175000 + 31000 = £ 347142
Total Revenue = £ 1057050
Profit = 1057050 – 347142 = £ 709908
Controlling plan – This is considered as the final plan in the marketing plan which need
to be address where the managers need to monitor the actions which have been performed. 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