(MAR002-2) Marketing planning assignment marketing the Music Carnival Project at 20 Bedford Way’s flagship concert venue

Question

Task: As a marketing manager for Live Nation you have been asked to present your marketing planning assignmentto your manager for a new outdoor one day music event lasting five hours. Using found data, you should analyse what is a very crowded market place, look for a gap and develop your plans for a themed, branded event aimed at a specific and well-defined ideal customer. As part of your plans you should include a launch event designed to give your target audience a first heads up about your event.

Answer

Introduction
If one need to organise a concert for yourself or another musician one need to pull off a great event that stays within budget andachieves all of your event goals. For this reason, careful planning is essential. It is found from the marketing planning assignment that one need to consider a few things while organising larger music performances, which might not ordinarily do when organising smaller gigs. Music Carnival Project at 20 Bedford Way’s flagship concert venue discussed in the marketing planning assignment

Logan Hall, the main concert hall at 20 Bedford Way, is ideal for holding musical concerts.The theatre-style event room, which can accommodate 910 guests, is the perfect location for your live music event in London, whether it will be arecital, classical music concert, or experimental concert(Okekeet al., 2021). with superb sightlines and fantastic acoustics. As per the marketing planning assignmentplanning your ticket pricing wisely is essential since it will affect how much money you gain from the concert as a whole. The process will provide more hybrid events which are expected to be a major trend across all events, therefore you should consider adding some online accessibility to the concert.

For the right individuals to learn about the concert, promotion and marketing are crucial. If they are not aware that your event is happening, they won't come. If you want to properly promote the event where one should invest some time and money in creating a good marketing plan. An expert in music marketing or a music PR agency could help one to market their show to the right consumers (Crowe and Manners, 2022). As per the marketing planning assignmentfindings, Facebook events can be used to estimate attendance and assess visitor interest. They provide information about the events concertgoers may look forward to as well as ways to buy tickets. It is also an excellent tool for people to tell their friends about the event. The artist that are being chosen for the show are Post Malone, Two Door Cinema Club, BackstreetBoys, Limp Bizkit, Metallica, Will I Am DJ service and Fat Boy Slim DJ Set.

As per the marketing planning assignmentprocess management software designed for live music promoters is among the best purchases one can plan for. It might take a lot of effort and time to manage performers, venues, promotion, and concert cost breakdowns. Spending some money on an accessible yet comprehensive platform might just save the day. Although we did borrow a few microphones stands and microphones from sponsors which helped us save money, most artists brought their own equipment and were responsible for it. Since the bar had already given out colourful wristbands, the stamp turned out to be a waste of money as well. Therefore, in the future, it is still best to speak with people and ensure that there is no waste of anything, no matter how minor(Swartjesand Berkers, 2022). As per the marketing planning assignmentfinding sponsors to support the music festival can be difficult, but it is vital if they want to raise money for the event. One must put effort into sponsorships since one must create sponsorship offers, identify possible clients, and persuade them to accept their offer. The exposure your festival receives will attract sponsors who want to gain brand recognition and reap the rewards of advertising their event.As per the marketing planning assignmentanalysis, boosting the festival's social media engagement and followings is another strategy to use "digital word of mouth" to identify new sponsors. Individuals will be swarming your posts asking for additional information if you have a popular music festival account on a few platforms with a sizable following. This will increase exposure. It is entirely up to you whether or not to incorporate a variety of musical styles, however employing professional musicians can be very expensive, particularly if you choose to work with upcoming musicians(Fisherand Fisher, 2020). It is found from the marketing planning assignmentthat due to the fact that people will want to attend an event where their favourite artist is the headlining act, this may also be another factor increasing the profitability of festival. The event addressed in the marketing planning assignmentwill eventually come up with PromoTix, which event manager used to create leads and ambassadors. It will help the festival make over $389,999.Also, by developing his own programme, he was able to save paying over $41,999 in ticketing costs. By doing something else, all of that money was saved and may now be spent elsewhere in the program.

Conclusion
The profitability of a music festival is something you should consider if the ball is already rolling and you're planning and strategizing ways to make your idea a reality. However, also figuring out how to make it profitable and continue selling tickets.
All of these can happen if you build a business around your festival, and that can only be done with financial support. As per the marketing planning assignment findings, the festival needs to raise money each year to cover expenses like paying fees, purchasing equipment, and paying staff in order to increase ticket sales and profit.

Reference
Callaghan, C., Turris, S., Rabb, H., Munn, B. and Lund, A., 2019. On the Way Out: An Analysis of Patient Transfers from Four, Large-Scale, North American Music Festivals Over Two Years. Prehospital and Disaster Medicine, 34(s1), pp.s39-s40.
Crowe, M.A. and Manners, B., 2022, May. Bring a tent, food, music and create your own experience: What’s considered as important for AfrikaBurn. In Journal of Convention & Event Tourism (Vol. 23, No. 3, pp. 269-296). Routledge.
Fisher, E.A. and Fisher, C.M., 2020. Outcomes of a pilot music education initiative to enhance social justice engagement among university students. Music Education Research, 22(3), pp.270-286. Okeke, I. and Okeke, C., 2021. The idea of music business. Usb journal, 4(1), pp.27-42. Swartjes, B. and Berkers, P., 2022. How Music Festival Organisers in Rotterdam Deal with Diversity. Festivals and the City, p.95.