I’m currently working on a new course around business plan writing, and it reminded me of how often I get asked to create a business plan when the customer actually wants a marketing plan.
To give you an idea of a difference between the two, business plans focus mainly on defining the company, its history, mission, and goals. A business plan includes more than just a marketing plan or strategy. It also includes discussion regarding staffing, locations, finances, and strategic alliances.
A marketing plan focuses on creating keys to success. It takes the mission and goals of the business and outlines a detailed plan to reach those goals and generate success.
When gathering data for either plan or strategy, gaining feedback is important considering most all ideas will affect each department within the company. Leaders and managers can provide realistic data, experiences, and share insight into market opportunities.
Dr. Elijah Clark (August 12, 2023). Marketing plan vs. Business plan [Web log post]. Retrieved from https://elijahclark.com/lesson-104/