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Events Management: Principles & Practice - Essay Example

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The paper produces an event proposal especially for the music industry management students who are planning to conduct a series of music events. ‘Music event management’ is an exciting and rewarding area related with the music industry that requires a great deal of hard work…
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Events Management: Principles & Practice
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"Events Management: Principles & Practice"

Download file to see previous pages The marketing plan is one of the major components for conduction of various events such as conducting a series of music events. Initially, in connection with 4P’s, the major focus will be in the product. From this perspective, the product is all about conducting a series of musical events. In lieu of this, a severe emphasis will also be given towards analysing the market’s ability to pay in order to fix the target audiences (Hoyle, 2002). Moreover, due importance will also be given on the target markets which consist primarily of global thinkers and supporters of the particular music artists those would be participating in the series of music events along with the audiences of all ethnic groups, socio-economic and age backgrounds (Atlanta International Music Festival, 2011). Apart from focusing upon the product, stress will be given upon the location or venue of the events. The location or venue of the event not only dictates the attendance but it also reflects the character and personality of the event as well. Also a major worry lies regarding the venue of the event that can cope up with prevailing cultural diversity conditions like health and safety considerations along with parking areas for both audience and staffs and avail the necessary transport systems from the audience’s point of view among others (Hoyle, 2002). Moreover, certain importance will also be given upon the promotion of the event through effective means of support by advertising, public relations and media among others. In this connection, the pricing issue is also a critical concern in order to run the music event smoothly along with following a market research which will help to determine the ability and the willingness of audiences to compensate...
In this research, the different management principles that have been applied constitute the marketing, finance and human resource management plans and by following or emphasising these principals, a significant success can attain while conducting his/her series of music events. From the marketing management principles’ perspective, particularly the ‘4P’s of event management principles have been applied. This 4P’s have been related with the price, place, promotion and product that lay emphasis upon the marketing plan’s point of view. Here the product is referred to as music event management. The factors like the location of the event to take place, tickets pricing along with the promotion of the events in various ways and also focusing upon the target audience segments have been applied in the event proposal for smooth executing of the series of music events. Moreover, in this event proposal, apart from the 4P’s, the marketing techniques in order to promote the event into the market through paid commercial television advertisements and public service announcements particularly through the radio have also been prescribed. Aside from the managerial principles and practices of marketing plan perspective, finance plan has also been formulated in the event proposal. The main priority was given to the process of ‘budgeting’. It constitutes the economic environment in which the series of music events will take place along with identifying various estimated cost areas like organisational, operational and other miscellaneous costs. ...Download file to see next pagesRead More
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