Live Nation Event Marketing Plan: Nirvana - A Musical Journey Analysis

This report presents a marketing plan for Live Nation, focusing on a musical event called "Nirvana – A Musical Journey" at Greystone Gardens. It includes a company description, strategic focus, and a SWOT analysis to evaluate the competitive landscape. The plan details market analysis using the marketing mix (product, price, place, promotion) and provides a financial budget, including artist costs, venue expenses, insurance, and marketing investments through Google AdWords, shopping center campaigns, and door-to-door leaflets. The pricing strategy is based on cost evaluation and competitive advantage. The report concludes with an emphasis on the importance of implementing the strategies for the success of the music concert, highlighting the significance of understanding internal and external strengths and opportunities.

EVENT MARKETING
PLAN

Contents
EXECUTIVE SUMMARY.............................................................................................................3
COMPANY DESCRIPTION..........................................................................................................3
STRATEGIC FOCUS......................................................................................................................3
SITUATION ANALYSIS (SWOT)................................................................................................4
MARKET ANALYSIS....................................................................................................................5
FINANCIAL DATA (budget).........................................................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

EXECUTIVE SUMMARY
The marketing plan presented below is developed for Live Nation, an American event
management and promotional company which is based in Beverly Hills, California. The business
of the company was established by consolidating the concert promoters into one unified national
entity (Zouni, 2019). Furthermore, in this report, we will analyse the overall marketing plan for a
new upcoming musical event or a concert, including various smaller performances by renowned
artists and comperes, to develop relevant financial and management plans, used for seamless and
effective completion of the event. The event will be held for a single day in Greystone Gardens,
an event space in California itself, for approximately five hours, with all the ground facilities
provided at the venue.
COMPANY DESCRIPTION
Live Nation is an American company specialized in managing and carrying out activities or
operations related to promotion of a specific event. The company came into existence since
1996, by Robert F.X. Sillerman, who was an American Businessman and Media Entrepreneur.
The company has reportedly earned a revenue of US$ 10.34 billion as of 2017 and its operating
income was at US$ 91.4 million in the same year. However, it witnessed declined Net Income of
US$ 6 million in year 2017, due to an increase in its overall expenses and losses. Live nation has
acquired shares of multiple festivals and management companies, such as Voodoo Music and
Arts Experience and Bonnaroo Music Festival.
STRATEGIC FOCUS
As the management team assigned to execute and conclude the event successfully, we have
described the various notions and aspects related to this project, proposed for the musical event,
which is to be held for the masses. This will aid the users in understanding how the whole event
will be executed, from start to finish. Following are the points to be noted:
 The event which is organized, is a compilation of the well-known musical artists, namely
singers and comperes, performing live, in front of a gathered crowd. We have estimated
the crowd to be around 100000 and would exclude the staff, employees and organizers
who will be administrating the whole event. Furthermore, the name for the event is
proposed as “Nirvana – A musical Journey”, by the management team.
 Vision – “To be the most successful and reputable event in the musical event history”

 Mission – “Creating top class sustainable services for the audience with dedicated and
loyal man-power”
 The management team expects to focus on the gaining the competitive advantage over
the competitors through evaluation of their situation in the industry, to recognize the gaps
and problems in the market, which could be converted as opportunities for the company.
We have aimed to provide sustainable and consciously formulated strategies to not
impact the environment adversely or emit greenhouse gases (Nguyen, 2018).
SITUATION ANALYSIS (SWOT)
The current market situation presents various problems which are related to the dynamic
environment and underlying conditions. For understanding every aspect about such conditions,
the SWOT analysis is performed, so as to differentiate and evaluate our position among the rival
companies in the industry:
 Strength – As previously mentioned, the live event will include approximately 100000
individuals, who will be gathering at the Greystone Gardens. The musicians who are
involved in the event, are recognized nationally and internationally, along with cultural
diversity which they can provide to the audience. Furthermore, the market is dynamic in
this field, where the rotation speed of ensembles is high, whilst the inclusion of well-
known music academies, in context to this concert.
 Weakness – The event will be of large scale and will include various artists, musicians,
bands, along with the management staff and other additional service providers, such as
the vendors of food and beverages, accessories. All of the operations are rigid and
complex, which may cause difficulty in directing and controlling all of the staff members,
who may not be well-versed with the tools and techniques required, lacklustre image of
few music genres.
 Opportunities - The live show which has been organized holds various opportunities to
earn profit and revenue, along with an increase in the goodwill of the company. Through
the techniques related to collaboration, program coordination and network arrangement,
we will be able to achieve desirable results, as these qualities are recognized as
opportunities for the event (Marques, 2021).
 Threats – In any type of concert, there are often multiple threats such as barriers existing
in training or professionalizing the volunteers, even though they are required for

supporting operations. Also, the funds need to be increased due various activities to be
executed, government obligations to be followed, rivalry from the media outlets, impact
or multicultural aspect and experience which is required.
MARKET ANALYSIS
The market or the industry which is to be analysed require proper utilization of the resources
which can be properly understood through analyzation of the marketing mix technique, namely:
 Product – The product which is being sold in this event is identified as the tickets, food,
beverages, accessories and other event related services. All of such are required to be
effectively managed to impact the event favourably and lower the chances of over
consumption of resources. However, the main concentration of the event is the provision
of services in timely manner, where the consumer needs are determined through
extensive market research and observation. For the product designing and testing the key
considerations or relevant aspects which are required to be managed through regulatory
requirements, human and natural resources for music concert, opportunities for
determination of the profits and positioning (Kowsalya, 2019).
 Price – The decision related to the price is extremely crucial for effective and efficient
management of costs related to multiple operations in the company. Furthermore, the
complexity of the activities makes it difficult to propose pricing decisions, as there are
multiple key areas which do not provide monetary flexibility. We have utilized
mandatory resources to develop a strategy, where the cost based figures will be evaluated
so as to set up the maximum mark-up percentage or value, to help determine the overall
price of the services to be provided (Hazira, 2021). Moreover, the concert will aim at
achieving the competitive advantage over other similar event management organizations
through proper pricing policies and reduction in the operating costs of related operations.
 Place – The place is determined to be the distribution channel which we propose to
implement in the event, so as to offer the access for the music concert, to the consumers
and that being done through way of tickets sold online. There are several causes which
will be fulfilled by including the marketing and sales channels, together with an improved
logistics plan, quality after sales services, purchasing opportunities for the consumers and
other similar aspects. The venue is also considered as the place for the services to be

provided and the music concert to be held at, where the management team will
significantly concentrate on the dispensing top quality services to the customers.
 Promotion – This is also identified as the integrated communication and marketing
strategy, which is a mix of the various marketing and advertising techniques which are
supposed to be used for promotional purposes and may include in-person sales, online
sales and other similar techniques (Gelsbo, 2020). The public relations also need to be
improved through proper and systematic drafting of the plans or strategies, which will
also involve tools of direct marketing, which can help the consumers know about the
existence of the music concert.
FINANCIAL DATA (budget)
Billie Eilish = £ 17K per 45 min set and £ 34K per 90 min
Doja Cat = £ 16K per hour
Cold play = £ 18K per half an hour
Total Cost = £142 per five hours
Other costs,
Venue cost = £ 175000
Capacity of venue = 25000 tickets
Cost of insurance = 620* 25000 /500 = £ 31000
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
campaign
£2,000 per 4
calendar
weeks
1250 1250 4000 £40 per ticket
5% of centre
footfall
50000
Through
the door
£3,000 for
leaflets
3750 3750 3000 £40 per ticket
375 tickets
150000

leaflets dropped
through
10,000 doors
sold
Review the results that can be obtained by selling the tickets from the above sales methods-
Selling through Google awards
From the calculations mentioned above, the management team proposes to set the price at
£40 and the sale of tickets are around 1800 through online platform, where the revenue will
be around £72000 and costs would be £30000 (Ferreira, 2020).
Selling through Shopping centre poster campaign by assuming that 25000 people will enter
there
It has been expected from the calculations mentioned above that the approximately 25000
people will enter the shopping area in the next eight weeks, which would mean the overall
cost for the billboard campaign will be £4000 (Bruhn, 2022). Furthermore, the sales price is
set at £40 and for this purpose, 5% of the tickets need to be sold.
Selling through the door leaflets

It is expected that 3750 tickets could 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
CONCLUSION
The marketing plan discussed above helps understand the various strategies to be followed by the
management team, which will impact the overall performance of the music concert along with
proper implementation of the plans and procedures. Furthermore, the report conducts a proper
analysis of the various strengths and opportunities, whether external or internal, which is help
understand the position of our company in the industry (Assenova, 2018).

REFERENCES
Books and Journals
Assenova, M., 2018. Scope, Specifications and Elements of Strategic Marketing planning in
Banks. Entrepreneurship, 6(1), pp.34-48.
Bruhn, M., 2022. Marketing als Managementprozess. In Marketing (pp. 27-35). Springer Gabler,
Wiesbaden.
Ferreira, M.M., 2020. Business Plan for a Digital Marketing Agency:“M4 Design” (Doctoral
dissertation).
Gelsbo, K.K., 2020. Marketing plan for homeless entrepreneur.
Hazira, M.N., Alagas, E.N., Amin, M., Zamzuri, N.H. and Zairul, M.M., 2021. The best practice
of marketing strategies for the Malaysian business event industry from experts'
perspective. Journal of Hospitality and Tourism Insights.
Kowsalya, S. and Nanddhini, R.M., 2019. A study on marketing plan of action and cognizance
about organic food products with special refrence to Coimbatore City. ZENITH
International Journal of Multidisciplinary Research, 9(2), pp.74-86.
Marques, C.V., 2021. Increasing international footprint of a natural stone business-marketing
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COMPANY (Doctoral dissertation, Khoa Quốc tế, ĐHQGHN).
Zouni, G. and Gkougkoulitsas, T., 2019. Tourism Marketing Strategies Incorporating Both
Tourists and Tourism Professionals: The Case of Thessaloniki, Greece. In Cultural
Sustainable Tourism (pp. 161-165). Springer, Cham.