Thursday, August 20, 2009

What is the difference between a marketing plan and a business plan?

Very often people can get confused with the two, but the fact is that the marketing plan (focused on the marketing strategy) will usually integrate a business plan (focused on the overall business strategy).
Your business plan is a decision-making tool that will cover a detailed insight into your industry, define your business structure, the product or service offered, your business goals, the people involved and the financials associated to achieve the referred goals.
Within the business plan there should always be included a marketing plan which will in turn, focus on the marketing strategy for the business.
A business plan will not be complete without a marketing plan; however, a marketing plan can be presented on its own. To understand more clearly what is included in each type of plan, please view each plan’s general structure below:

Business Plan Structure

Marketing Plan Structure

1. Executive summary

1. Executive Summary

2. Company description

2. Situation Analysis

3. Market analysis

3. Marketing Strategy

4. Marketing plan

4. Marketing budget and forecasts

5. Operations plan

5. Control and evaluation

6. Management team

6. Timeline

7. Financial plan

7. Attachments

8. Timeline

9. Attachments