A New Brand Name In Events Management Essay
1.0 EXECUTIVE SUMMARY
1.1 Company & Industry
Greek Live Concert Company will be looking to tap the growing entertainment industry in Greece and across the world by promoting high quality lives concert shows.Located in Athens, Greece, the aim will be to become profitable by promoting live concert shows and sale of pre-recorded music.The copyright and license of the shows and the pre-recorded music will be with Greek Live Concert Company. Greek Live Concert Company will be promoting Internet music and live concert . Greek Live Concert Company considers the above said two revolutions are here to stay , and it will be the best thing to happen in music industry after album sales.
1.2 Products & Services
Greek Live Concert Company will be taking care of variety of music genres like pop, alternative rock music, jazz music, gospel music, urban music and the company has decided to choose a variety of veteran and debuting artist to showcase their talents in live concert shows.
Greek Live Concert Company will be expanding their brand different from other companies using an unique marketing and promotional plan.The concert promotion will be done using television, print online and other modes of medium.
Greek Live Concert Company will be maintaining strong affiliations
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The company will be managed by professionals who has the knowledge of music industry.The management team will be having the experience of managing a team and live event internationally.There would be marketing professionals well versed in life style marketing.
The company will be recruiting talents that has the prior experience in live concerts and Internet music.
2.0 COMPANY SUMMARY
2.1 Company & Industry
Greek Live Concert Company is a multimedia entertainment company with specialization in Internet music and live concert.
The vision will be to provide international consumers a positive audio and visual entertainment using live concert.The vision also include that quality entertainment will be given to the consumers without compromising on commercial appeal.The mission statement is that dreams of music consumers will be fulfilled by The Greek Live Concert Company.The reason for this mission statement is that the company plans to occupy a distinctive position in peoples lives and be successful in the market place.
The company will be divided into three ancillary divisions ; live concert music division, live concert music video division and live concert music Internet division.The company will be earning additional income through distribution and video merchandising of live concert shows.There will be also showing of live concert shows through Internet and that will be generating additional income.
2.2 Legal Entity and Ownership
The company will be Incorporated in Athens and will be having 8,00,000 shares of stock.The board of directors will be authorized to issue 4,00,000 common shares.There will be debentures for first and second share offerings.The company will be having only one founder and the name is Jake Richard.Jake Richard will be having 4,00,000 of common shares.
Jake Richard will provide the vision of future.He will be responsible for artist development, artist negotiation and stage production.He has considerable experience in entertainment industry and finance and banking areas.He has a reputation for building positive relationship with artists.He has got a good public relationship with concert directors.
2.3 Facilities & Location
Most of live concert shows in the initial years will be centered in Greece.There will be two highly technical studios The live musical concert will be having classical musical concert and ballad musical concert that will be supported by two technical studios.The two technical studios will be offering the artists the full facility needed for make up and other arrangements.
3.0 Products And Services
3.1 Product Description
The primary thrust of the company will be live musical concert.The company will be undertaking live classical musical concert and international ballads live concert.There will be divisions in the company based on the genre of music .There will be a division called silence under the live concert music division.The silence division will handle mainstream pop live musical concert .There will be another division called trendy .This division will be handling alternative rock, jazz in live musical concert show.There will be another division called devotional musical concert show.This division will be promoting inspirational devotional songs.
The Greek Live Concert Company will be facing competition from live event management companies.The company will be promoting live musical concerts of internationally reputably artists like Madonna and will be also promoting new debut who has exceptional music talent.There will be relentless marketing programs and campaigns to promote the brand in live musical concert shows.The aim will be to create a winning marketing programs and will be used to market the brand internationally.
3.3 Competitive Edge To The Company
The Greek Live Concert Company will be creating a tie up with professional musicians for live musical show. The Greek Live Concert Company will be entering tie up with music distribution companies to promote the brand and artists.There will release of at least six live musical concert in a year and the live musical concert will be covering various genres.
The Greek Live Concert Company will be creating a barrier to competitors by making step to undertake a special division that will be assessing the new talents.
4.0 Market Analysis Summary
4.1 Market Size
The market will be growing thanks to the Internet revolution.There has been digital network that has been dedicated to the downloading of live musical concert shows.The growth of Internet TV has helped the growth of live musical concert shows as these shows has become more accessible through TV.There has been growth in mobile technology and that will be boosting the live show of concert musical shows.All these revolutions has meant that live musical shows shown in Athens can be watched from any part globally at the same time.This will be ensuring more revenue to the company in form of sponsorship revenue.
The demand for live concert shows has been increasing due to the increased popularity of artists.The artist has been in limelight to various music channels like MTV and V channel that has been shown globally.
There has been a wide spread popularity of artist in Internet due to video sharing in You Tube and other forms.The live musical concert can be sold once again in a reformatted manner of album sales.There has been digital distribution which has helped to increase the popularity new artist which will be exploited by The Greek Live Concert Company.
5.0 Strategy & Implementation
5.1 Product Development
The basic purpose of any business will be to create new customers and retain the existing customers.This will be done by The Greek Live Concert Company by monitoring the changes that are happening at the market place.Promotional activity will be working best when it connects with potential customers. Greek Live Concert Company has understood the value of technological revolution particularly communication revolution.There will be promotion using online technological advancement likes blog and buzz marketing.
Consumers taste and preferences will be changing very fast in this global world.The consumer will be bombarded with promotion of live concert musical shows and it will be available through various news channels.
5.2 Internet Strategy
Greek Live Concert Company has understood the value of technological revolution particularly communication revolution.There will be promotion using online technological advancement likes blog and buzz marketing (Kelly 2007).There will be usage of web advertising that will be helping the direct interaction with the client (Janoschka 2004).The aim of the web advertising will be to enthrall the customer.There will be usage of tracking method to understand the preferences of consumers who are interested in music live shows.The online advertising will be delivered at any time of the day and there will be more usage of English in the ad.There will be pop up ad and sponsorship ads that will be used by the company to promote the product.
The most common Web 2.0 tool is blog (Solomon &Schrum 2007) and there will be a forum that will be attracting the views of the consumers.There will be editorial constraint in expressing opinions in the forums and any racial comments and vulgar comments will be immediately deleted .The blog will be both internal and external in the company Website.
Internet will be used for buzz marketing the company programs.The company mission and vision will be available in the popular social networks line Twitter and Facebook.The Website of the company will be offering the e-mail service, personal Website service and chat groups.There is another concept likes mobile advertising.The sms will be used extensively to promote the brand and company programs.
5.3 Marketing Strategy
The main aim of the marketing strategy will be to get the right message across to the right target group.The market segmentation of the live musical concert show will be done first.There will be proper demographic study of the consumer.The target group will be met with effective marketing communication strategy and there will be a department for that purpose.
There will be celebrity advertising as a ‘ celebrity live musical concert show’.A celebrity is a person who is having high credentials and would be commanding a high degree of attention from the public.The aim for this is that celebrity will be having a high attention grabbing power.The celebrity will be considered as the spoke person of the company.Celebrity should be having the main 4Ps like the passion for music, perfection in show and music, pragmatism and overall power of youth (Walker 2003).Moreover the celebrity should be iconic, style conscious and cutting across sexes.Celebrities will be considered as brand building tools and there will be marketing strategy with new music players also.
5.4 Sales Strategy
The marketing and promotion budget will be considering the timing of live musical concert show.For example if a celebrity ‘live musical concert show’ has to take place in six months, the marketing and promotion will be evenly distributed throughout the six months and the last one month there will be more advertising.The live musical show will be also introducing new comers and there will be more extensive campaigns showcasing their talent.There will be media exposure through print, radio, television and online Internet.
5.5 Tactical Alliances
There will be alliance with major musical companies to promote the live musical shows.There will be talks with numerous record labels spread in Greece and other European record labels.
5.6 Operations of the company
There will be vice presidents for each divisions and they will be responsible for that division.There will be separate marketing/sales division, artist development, Artist relation division for the company.There will be a creative service division for the company.
6.0 Financial Plan
6.1 Income Statement Projections
Most of the income is expected to come from live concert show ticket sales and sponsorship.There will be additional revenue using Internet streaming and sales of cds of live musical concert shows.Sale of live musical concert show through i tunes and other retailers, merchandise revenue.
The company will be having a cash balance for nine months to meet any unforeseen contingencies.The company plan to earn $20 million in cash and other assets.
6.2 Goals of the company
The aim of the company will be to build a profitable ,reputable entertainment company that will be stable through the years.The aim will be to have monthly positive cash flow within six months .The company will be starting from end of June 2010.
List Of References
Kelly,Lois .(2007).Beyond buzz: the next generation of word-of-mouth marketing.New York:AMACOM Div American Mgmt Assn.
Janoschka,Anja.(2004).Web advertising: new forms of communication on the Internet.Amsterdam:John Benjamins Publishing Company.
Solomon ,Gwen & Schrum,Lynne.(2007).Web 2.0: new tools, new schools.Washington:ISTE (Interntl Soc Tech Educ).
Walker,Orville C.(2003).Marketing strategy: a decision-focused approach.Columbus:McGraw-Hill/Irwin.