Introduction

Marketing plan is more significant for every organisation. It is important to have enough budget within the organisation or in event industry in order to sell conduct their activities and even if they are facing any loss so they can bear it in effective manner (Yu, Hu and Jiang, 2022). The present report is about one day music event which is in a new outdoor venue and it is organised by life nation. This report consisting of before 48 hours the event. The venue has given an unexpectedly extra 2000 tickets at the cost of £10 per ticket. So, this report will incorporate on the present music plan and how a researcher sells them and what will be the impact on the projected profit. These all things have been discussed within a given report.

Task

Marketing Plan

Marketing plan is regarded as the defining in scheduling of the marketing aim and objective by gathering strategies in order to achieve the organisational goals and objectives. It consists of promotional strategies; budget allocation and the distribution channels are the main elements of the marketing planning. A marketing plan consists of various stages that helps marketing departments in conducting all the activities successfully. It involves certain activities like marketing goals, conducting marketing audit and research, analysing and evaluation of the result, identify and the target market, determining the budget, making marketing strategies and campaigns and implementation of those activities on the market or the competitors. While having effective market plan will result in gaining more opportunities for the company in attracting more customers as well. In relation with the live nation, one day music event, there is the cost-effective marketing plan which is scheduled by the organisers by having top artists in the music event to entertain the audience at the advanced level (Sharipov, Loukhovitski, and Loukhovitskaya, 2022).

This marketing plan consists of artists selection plan and the advertising and other cost. In this marketing plan, there are certain artist who will come in a particular music event like Ed Sheeran, Coldplay, Mabel, Hollywood vampires etc. These artists are having certain cost at which they are hired. These are about £35k, £30k, £16k, £15k for each artist. As there are total cost of hiring artists in this music event is about £124k which is like a decent cost for the organisers and they are satisfied within it. These artists will be having a good combination of the classic form, present and the nostalgic. There also two most expensive artists these are Coldplay and Ed Sheeran. Further, the venue hiring cost will be about £175 000 which includes parking, starting and the sitting cost. Also, there will be other insurance that is £1.24 ticket which will be around £31000 of £25000 tickets. The other costs like advertising which includes cinema, TV Google ads, shopping centres, National magazine, social media sector, the total advertising cost will include £249,100 which is most satisfied by the organisers (Yen, Cohen and Asaad, 2022). Also, if in the present report if venues are provided any extra tickets, then this will help the company in generating more profits and also it will be resulting in getting more sales about £20000 profits of the company.

AIDAS Theory Of Selling

This is a theory which is based on experimental knowledge and it is very common theory within selling of any product. According to this, target customer mind passes through the following stages such as attention getting, interest creating, desire stimulating, action inducing and satisfaction.

Attention getting: It is one of the first stage within AIDAS process, the main purpose is to put prospectus in the right statement of mind in order to continue the sales talk with the customer. In this marketing or selling person should have to convince the participate within a face-to-face interview. Right beginning of the conversation sets the stage of product and services. This could be applied by sale person with his Social And Psychological Skill in order to draw attention of the target customer (Jürgens, Ramalingam, and Yeshi, 2022). In this particular Live Nation, the organiser should have to create attention of new target customers who are not getting the tickets.

Interest creating: This is the next step in which is to create an attention of the customers that involves strong interest. In order to achieve this organiser should have to be enthusiastic about the ticket which are selling. The other method is to handover the ticket to the prospectus and let them handle it. Also, they have to make some brochures or visual aids in order to serve to the customers and make their interest. This will help in attracting and creating interest of customers effectively in the products.

Desire stimulating: After customers get attention and create interest t